Protect disaster victims’ refunds from getting caught in the Lookback Trap
Mary Lundstedt December 23, 2024 In the wake of a devastating hurricane season, tax practitioners can help those clients affected …
After Jarkesy, Three Auditor Suits Test the PCAOB’s Enforcement Powers
The PCAOB is facing the most concerted attack in years on its enforcement powers through a trio of lawsuits that …
IRS Adopts New Definition of Premium Tax Credit ‘Coverage Month’
The IRS has finalized a rule to amend the definition of a “coverage month” for the purposes of calculating the …
Missouri Announces 2024 Corporate Income Tax Year Changes
The Missouri Department of Revenue has announced corporate income tax year changes, effective for the tax year beginning January 1, …
Hundreds of Nonprofits Push for Passage of Charitable Act
A coalition representing hundreds of organizations and companies in the charitable sector is urging Congress to permanently restore a charitable …
With Tax Talks Ramping Up, CBO Analysis is Disputed
As lawmakers gear up for tax negotiations, the Congressional Budget Office (CBO) released its assessment of how extending expiring individual tax provisions …
To File or Not to File: Corporate Transparency Act Next Steps
After a Texas federal district court halted enforcement of the Corporate Transparency Act weeks before the filing deadline for most …
End Direct File on ‘Day One,’ Say House Republicans
Representative Adrian Smith (R-NE), joined by 27 House Republicans, urged President-elect Donald Trump to immediately end the IRS’ free e-filing …
2024 Required Amendments List Primarily Addresses Optional Plan Provisions
IRS Notice 2024-82 (Dec. 5, 2024) Available at https://www.irs.gov/pub/irs-drop/n-24-82.pdf The IRS has issued its 2024 Required Amendments List (RA List) …
Dems Renew Call for Action on Premium Tax Credit
After the Congressional Budget Office (CBO) found that 3.8 million Americans will go uninsured if an expiring tax credit is …