IRS Issues New Guidance for Energy Facilities in Low-Income Communities
The IRS has issued new application and documentation procedures for the low-income communities bonus credit program (Program) for the 2024 …
West Virginia Expands Subtraction for Social Security Benefits
By Jennifer J. Troyer On March 27, 2024, West Virginia Governor Jim Justice signed legislation expanding the subtraction from federal …
US Taxpayers Living Abroad Have Until June 17 to File US Return and Pay US Tax
With April 15 fast approaching, the IRS is reminding taxpayers living abroad that they have until Monday, June 17, 2024, …
Tax Court Finds Conservation Easement Extinguishment Reg Invalid; Rule Violated APA
Ruling for the plaintiff in a conservation easement case, the Tax Court on March 28, held that the IRS’ rule …
SCOTUS Hears Arguments in Estate Tax Life Insurance Stock Redemption Case
The Supreme Court heard oral arguments to settle a circuit court split over whether life insurance proceeds following a shareholder’s …
Anonymous Audit Firm Sues PCAOB to Block ‘Excessively Intrusive and Burdensome’ Investigative Demand
An audit firm subject to a PCAOB investigation over the auditing of crypto assets on March 27, 2024, sued the …
ACA Section 1557 Proxy Discrimination Challenge of Hearing Aid Exclusion Proceeds to Trial
E.S. v. Regence BlueShield, 2024 WL 1173805 (W.D. Wash. 2024) A federal trial court has allowed a proposed class action …
Corporate Jet Audits: What the IRS Is Looking For
The IRS’ recent announcement of a crackdown on corporate jet usage garnered national attention as the Biden administration continues down …
Proposed Clean Hydrogen Production Credit Guardrails Elicits Mixed Reaction
A set of criteria put forth by the Treasury Department for determining which tier of the clean hydrogen production tax …
The Pandemic Lockdown Tests New York’s Application of its Convenience of the Employer Rule
By David Engel, and Jill C. McNally In the aftermath of the COVID-19 pandemic, New York’s “convenience of the employer” …