North Carolina Expands Hurricane Helene Interest Relief for Tax Preparers or Tax Records
By Rita L. Eng On October 25, 2024, North Carolina Governor Roy Cooper signed the Disaster Recovery Act of 2024—Part …
It’s ‘All About That Base,’ When it Comes to Post-Election Tax Reform
With the Treasury Department reporting a $1.8 trillion budget deficit for fiscal year 2024, and interest on the federal debt …
Advanced Manufacturing Production Credit Regs Finalized
The IRS issued final regs implementing Code Sec. 45X under the Inflation Reduction Act (P.L. 117-169) to further the Treasury Department’s goal …
A Conversation With US Chamber’s Tom Quaadman About the PCAOB
Summary: The following article is a conversation with Thomas Quaadman, executive vice president of the U.S. Chamber of Commerce Center …
Tax-Exempt Organizations Exempt From Filing Form 4626 for Tax Year 2023
On Wednesday, the IRS excused tax-exempt organizations from the requirement to file Form 4626, Alternative Minimum Tax – Corporations, for tax year …
IRS Releases 2025 Cost-of-Living Adjustments for Health FSAs, Transportation Benefits, Adoption Assistance, and More
The IRS has released the 2025 cost-of-living adjustments (COLAs) for a wide variety of tax-related limits, including limits relating to …
In Unusual Move, PCAOB Member Ho Lambasts Senators Warren, Whitehouse
Public Company Accounting Oversight Board (PCAOB) member Christina Ho has hit back at Democratic Senators Elizabeth Warren and Sheldon Whitehouse …
Final Regs Issued Regarding Withholding on Section 3405 Distributions
The IRS has finalized regs under Code Sec. 3405(a) and Code Sec. 3405(b) to amend income tax withholding rules on certain periodic payments and …
Dems, Health Care Groups Call for Swift Action to Extend Premium Tax Credit Enhancements
Though the enhanced health care Premium Tax Credit doesn’t expire until the end of 2025, an extension is needed much …
TurboTax ‘Breakup’ Ad Draws Ire From Tax Pro Org
A national tax professionals group is unhappy with a new advertising campaign that encourages taxpayers to drop their practitioner in …