Final Regs Allow Certain Co-Owned Elective Pay Entities to Opt Out of Partnership Treatment
The IRS finalized regs providing guidance on how clean energy projects with multiple owners can elect to not be treated …
Experts Discuss the ‘Bottom Line’ for Tax Reform
Republicans secured the trifecta of the presidency, House, and Senate, and many experts predict that tax reform — including extension …
Wary of Their Role in Corporate Transparency Act Filings, CPAs Push for Delayed Implementation
With the Corporate Transparency Act’s beneficial ownership information (BOI) reporting deadline fast approaching, some CPAs are hesitant to advise their …
SCOTUS Declines to Settle Circuit Split Over Meaning of ‘Return’
On November 4, the U.S. Supreme Court denied certiorari to a taxpayer who asked it to settle a multi-circuit split over the …
Proposed Third Party Contact Advance Notice Regs Punish Taxpayers, NTA Says
Pending rules that would shorten third-party notice requirements by allowing the IRS broader discretion in excepting the 45-day window under …
House Takes Up Social Security, Terrorism Bills
Returning from a six-week district work period, the House considered two measures on Social Security that would impact public service …
Big 4 Tax Director: Fate of TCJA in the Hands of a ‘Very Different’ GOP
What ultimately becomes of permanent and temporary provisions of the Tax Cuts and Jobs Act (TCJA) will be largely decided …
IRS Shares FY 2024 Revenues, Financial Position Ahead of Funding Fight
The IRS released its annual financial report for fiscal year 2024, touting strides taken using Inflation Reduction Act (P.L. 117-169) …
Public Hearing Set on Proposed Dual Consolidated Loss Regulations
The IRS and the Department of the Treasury have scheduled a public hearing this November on the proposed regulations regarding …
Hurricane Victims Granted Extensions Under Certain Benefit Plans
Several federal agencies in a joint notice announced extensions to various time frames for participants, beneficiaries, and qualified beneficiaries of …