Proposed Regs on Micro-Captive Listed Transactions, Transactions of Interest Finalized
The IRS has finalized proposed regulations (REG-109309-22) that identify transactions that are “the same as, or substantially similar to,” certain …
Tax Season Begins Jan 27; ‘Enhanced’ Direct File Goes Live Same Day
The IRS announced that the 2025 tax filing season is scheduled to begin Monday, January 27, and that its Direct …
Agencies Withdraw Proposed Regulations That Would Have Created “Individual Contraceptive Arrangement” and Rescinded Contraceptive Coverage Mandate’s Moral Exemption
The IRS, DOL, and HHS have withdrawn proposed regulations that would have provided an additional method for individuals to obtain …
‘One Powerful Bill’ To Address Expiring Tax Provisions and More
Republicans are eager to start delivering on President-elect Donald Trump’s campaign promises via reconciliation — a fast-track option available when …
Final Regs Expand Sec. 45V Credit to More Hydrogen Production Sources
After reviewing over 30,000 comments and a year of fine-tuning, the IRS issued final regs implementing the Code Sec. 45V Clean Hydrogen …
GAO: Direct File Customer Support Staff May Not be Ready for Tax Time
Despite a successful pilot last filing season, the IRS may have challenges in the first full year operating its Direct …
Consolidated Return Rules Modernized
The IRS has issued final regs that modernize the language of rules governing consolidated corporate income tax returns filed by …
Digital Asset ‘Middleman’ Reporting Regs, Transition Relief Issued
The IRS has issued final regs that include participants in the decentralized digital asset space that provide trading front-end services …
Congress Passes Bill on Public Service Worker Social Security Benefits
The Senate passed a bipartisan bill, 76-20, on December 20 that revises how public pension beneficiaries are treated for Social …
Wyden Takes Aim at Life Insurance ‘Tax Shelter’
As the legislative session came to a close, outgoing Senate Finance Committee Chair Ron Wyden (D-OR) unveiled a draft proposal …