Instructions for EIN Application Updated
The IRS updated the instructions for Form SS-4, Application for Employer Identification Number, with a revised date of December 2023. Form SS-4. …
Wyden, Smith Unveil Bipartisan Tax Framework
The top taxwriters in the House and Senate put forth a $78 billion, multi-pronged joint tax proposal highlighted by tax …
IRS Issues Guidance on Anti-Abuse Rules for Pension-Linked Emergency Savings Accounts
IRS Notice 2024-22 (Jan. 12, 2024) IRS Notice News Release The IRS has issued initial guidance regarding anti-abuse rules for …
SEC Plans to Issue 11 Proposals in 2024
The SEC is planning to issue 11 proposals in 2024, according to the so-called Reg Flex Agenda, which lists planned …
Louisiana Issues Guidance on the Electric and Hybrid Vehicle Road Usage Fee
The Louisiana Department of Revenue has issued a bulletin notifying taxpayers of the road usage fee to be applied to …
Werfel: Enforcement Initiatives Homing in on Partnerships, Large Corps
The IRS has collected over half a billion dollars from millionaires in its attempts to capture amounts owed by complex …
GASB’s 2024 Priorities Include New Rules on Financial Reporting Model, Capital Assets, Chair Says
The Governmental Accounting Standards Board (GASB) plans to issue two new standards and three public consultation documents as part of …
Partnerships Get Penalty Relief for Failure to Furnish Payee Statements
In a notice, the IRS has provided failure to furnish penalty relief to partnerships that are required to furnish Form …
2023 NTA Annual Report: Big Strides Taken by IRS but Delays Linger
In her latest annual assessment of the IRS’ efforts to improve taxpayer services and overall administration, National Taxpayer Advocate Erin …
National Taxpayer Advocate “Very Concerned” About ERC Claims Delay in 2024
In its annual report to Congress, the National Taxpayer Advocate (NTA) said it was “very concerned” about delays in processing employee retention …