It’s ‘All About That Base,’ When it Comes to Post-Election Tax Reform
With the Treasury Department reporting a $1.8 trillion budget deficit for fiscal year 2024, and interest on the federal debt …
Advanced Manufacturing Production Credit Regs Finalized
The IRS issued final regs implementing Code Sec. 45X under the Inflation Reduction Act (P.L. 117-169) to further the Treasury Department’s goal …
Tax-Exempt Organizations Exempt From Filing Form 4626 for Tax Year 2023
On Wednesday, the IRS excused tax-exempt organizations from the requirement to file Form 4626, Alternative Minimum Tax – Corporations, for tax year …
Tax Pro Shares Keys to Navigating Fed Rate Changes, Political Uncertainty
Businesses have opportunities to increase cash flows and lower tax liabilities in light of the recent cut to the federal …
Final Regs Issued Regarding Withholding on Section 3405 Distributions
The IRS has finalized regs under Code Sec. 3405(a) and Code Sec. 3405(b) to amend income tax withholding rules on certain periodic payments and …
Dems, Health Care Groups Call for Swift Action to Extend Premium Tax Credit Enhancements
Though the enhanced health care Premium Tax Credit doesn’t expire until the end of 2025, an extension is needed much …
TurboTax ‘Breakup’ Ad Draws Ire From Tax Pro Org
A national tax professionals group is unhappy with a new advertising campaign that encourages taxpayers to drop their practitioner in …
Wyden Presses Pfizer to Cooperate With Profit-Shifting Investigation
In the latest development of a three-year investigation into potentially abusive tax strategies used by major players in the pharmaceutical …
Tax Orgs Find Draft Dual Consolidated Loss Regs Problematic
Upon the closure of the public comment period for proposed regs addressing issues related to dual consolidated losses (DCL) and rules on …
The Future of R&D Expensing
With lawmakers setting their tax priorities for 2025, one proposal with bipartisan support is bringing back a provision that allowed …