Housing Reform Should Restore, Enhance Lapsed Tax Breaks, House Taxwriters Told
With the deadline now passed for public stakeholders to submit comments to members of the House Ways and Means Committee …
With Corporate Transparency Act Deadline Looming, Community Associations Are Denied Relief
Another federal court has sided with the government in a case challenging the Corporate Transparency Act’s reporting requirements, denying preliminary …
DOJ Urged to Look Into Tax Prep Companies’ Privacy Practices
Democrat lawmakers have asked the U.S. Department of Justice (DOJ) to investigate major tax preparation companies’ data privacy practices — …
Ayahuasca Church’s Tax-Exempt Status Denial Appeal Should Not Be Reheard, IRS Tells Court
A federal appellate court correctly affirmed the district court’s decision to deny tax-exempt status to an Iowa-based religious entity for …
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 …