Partnership deals present unexpected Subchapter K traps, experts say
Partnership deals can carry unexpected federal tax consequences, from how a transaction is classified to how a recent capital contribution …
Midterms unlikely to undo OBBB business breaks, expert says
Whatever the outcome of Tuesday’s midterm elections, permanent business deductions in the One Big Beautiful Bill (OBBB) are likely safe, …
Bisignano says IRS will use ‘super intelligence’ to speed service, collections
IRS CEO Frank Bisignano said the agency plans to make aggressive use of “super intelligence” in 2027, framing the technology …
Tax pros break down limited partner cases, Trump account rules
Tax practitioners should watch how appellate courts apply self-employment tax to limited partners, weigh new employer options for funding children’s …
OBBB expands itemizing but complicates year-end planning, CPA says
Last year’s federal tax law gave more taxpayers reason to itemize, but income-based phaseouts and state decoupling have complicated year-end …
Former IRS chiefs, taxpayer advocate want Form 1040 citizenship question dropped
A group of tax experts, including two former IRS commissioners and a former National Taxpayer Advocate, has urged the Treasury …
Multistate Monitor — Clients unaware of state OBBB decoupling gaps, expert says
Many clients don’t realize some states have rejected federal tax breaks in the 2025 tax law, while state tax increases …
IRS allows local regulatory rules for foreign insurance reserves
The IRS has privately ruled that a foreign life insurance subsidiary can use its foreign annual statement liabilities calculated under …
Court rejects government bid to dismiss scam victim’s refund suit
A federal district court denied the government’s motion to dismiss a refund suit, holding that a scam victim’s informal letter …
IRS eases reporting, recordkeeping on dyed diesel
The IRS has announced that it will not challenge temporary failures to meet return-filing, reporting, or recordkeeping requirements that arise …