Senators Push for End to IRS Hiring Freeze Ahead of Filing Season
Lawmakers are calling on Treasury Secretary and acting IRS Commissioner Scott Bessent to ramp up IRS and Taxpayer Advocate Service …
Digital Asset Cost Basis Reporting, Backup Withholding Considerations
Digital asset experts at EY reminded taxpayers of new transaction reporting obligations that will take effect next year and explored …
Carbon Capture Credit Safe Harbor Creates 2025 Backup Reporting Method
The Treasury Department and the IRS have released guidance providing a safe harbor for taxpayers claiming the tax credit for …
Know How the OBBBA Will Impact You Long-Term, Tax Pro Advises
Jennifer Acuna, principal in KPMG’s Washington National Tax practice, stressed that proactive planning is essential for navigating the complexities of …
11th Circuit Upholds Corporate Transparency Act
In a major reversal, the U.S. Court of Appeals for the 11th Circuit has upheld the constitutionality of the Corporate …
Tax Credit Experts Urge Businesses to Model Strategies, Risks Now
Baker Tilly experts outlined key tax strategies for individuals and businesses navigating changes enacted by the One Big Beautiful Bill …
IRS Finalizes Regs on Tribal Entity Tax Status, General Welfare Benefits
The IRS has issued two sets of final regs addressing the federal tax treatment of entities wholly owned by Indian …
What OBBB Means for Your Clients’ Itemized Deductions
By Hilari Pickett, CPA, a Senior Specialist Editor with Thomson Reuters Tax & Accounting The 2025 Act (also referred to …
House Committee Advances Additional Tax Administration Measures
The House Ways and Means Committee advanced two tax administration bills Wednesday evening aimed at improving the taxpayer experience. One …
Dems Press Treasury on Retroactive R&E Expensing ‘Loophole’
Nine congressional Democrats urged Treasury leaders not to establish a Corporate Alternative Minimum Tax carveout for companies that accelerate their …