Digital Asset ‘Middleman’ Reporting Regs, Transition Relief Issued
The IRS has issued final regs that include participants in the decentralized digital asset space that provide trading front-end services …
Congress Passes Bill on Public Service Worker Social Security Benefits
The Senate passed a bipartisan bill, 76-20, on December 20 that revises how public pension beneficiaries are treated for Social …
Wyden Takes Aim at Life Insurance ‘Tax Shelter’
As the legislative session came to a close, outgoing Senate Finance Committee Chair Ron Wyden (D-OR) unveiled a draft proposal …
IRS Needs Secure Annual Funding, ABA Tells Budget Leaders
To effectively meet its core responsibilities, the IRS needs sustained annual appropriations and access to expected funds authorized by the …
In Massive CR: IRS Funding Cut, Beneficial Ownership Report Extension
With government funding set to run out on Friday, House Speaker Mike Johnson (R-LA) unveiled a continuing resolution (CR) Tuesday …
IRS Adopts New Definition of Premium Tax Credit ‘Coverage Month’
The IRS has finalized a rule to amend the definition of a “coverage month” for the purposes of calculating the …
Hundreds of Nonprofits Push for Passage of Charitable Act
A coalition representing hundreds of organizations and companies in the charitable sector is urging Congress to permanently restore a charitable …
With Tax Talks Ramping Up, CBO Analysis is Disputed
As lawmakers gear up for tax negotiations, the Congressional Budget Office (CBO) released its assessment of how extending expiring individual tax provisions …
To File or Not to File: Corporate Transparency Act Next Steps
After a Texas federal district court halted enforcement of the Corporate Transparency Act weeks before the filing deadline for most …
End Direct File on ‘Day One,’ Say House Republicans
Representative Adrian Smith (R-NE), joined by 27 House Republicans, urged President-elect Donald Trump to immediately end the IRS’ free e-filing …