IRS Provides Guidance on Clean Fuel Production Credit Registration
On Friday, the IRS issued guidance on the Clean Fuel Production Credit to clarify registration requirements for the two fuel …
IRS Direct File Here to Stay, Treasury Announces
The IRS’ direct tax return e-filing program will be a permanent option for taxpayers moving forward, the Treasury Department and …
Existing PCAOB Standards Can be Used For SEC’s Climate Disclosure Rule, Board Chair Says
Leaders of the Public Company Accounting Oversight Board (PCAOB) said that the board’s existing standards and rules can be used …
IRS Issues Proposed Regs on Clean Electricity Credits
The Treasury Department and the IRS issued proposed regs on the Code Sec. 45Y Clean Electricity Production Credit and the Code Sec. 48E Clean …
Qualified Transportation Compensation Reductions That Were Unused Due to COVID-19 Pandemic Cannot Be Refunded
IRS Information Letter 2024-0004 (Mar. 29, 2024) Available at https://www.irs.gov/pub/irs-wd/24-0004.pdf The IRS has released an information letter responding to an …
Bipartisan Approach to Tax Reform Needed, Say Former Hill Staffers
Tax experts on who worked on opposite sides of the aisle when the 2017 Tax Cuts and Jobs Act (TCJA, PL …
In Unusual Request, Center for Audit Quality Asks PCAOB to Delay Sending Revised Standards to SEC for Approval
In an unusual request, the Center for Audit Quality (CAQ) asked the Public Company Accounting Oversight Board (PCAOB) to delay …
NTA Collins: Let Taxpayers Challenge International Information Return Penalties
National Taxpayer Advocate (NTA) Erin Collins wrote in a May 21 blog post that taxpayers should be able to bring challenges to …
Disclosure Rules for Income Statement Expenses Might Come Late Summer, FASB Chair Says
Disclosure rules that will reveal certain types of expenses that analysts say are too obscure in income statements might be …
House Passes Disaster Tax Relief Bill
Though the broad bipartisan tax bill remains stalled, the House overwhelmingly passed a portion of that package aimed at aiding …