CPAs Renew Call for Lower S Corp PLR Request User Fees
The American Institute of Certified Public Accountants (AICPA) is renewing its call for the IRS and Treasury Department to establish …
$10B in New Markets Tax Credit Allocations Announced
Treasury and the Community Development Financial Institutions (CDFI) Fund announced $10 billion in New Markets Tax Credit allocations last week. …
Administration’s Shift on Cannabis Draws Criticisms From Some Republicans
As President Trump took steps to move cannabis to a less stringent classification under the Controlled Substances Act, several Senate …
Senators Push for End to IRS Hiring Freeze Ahead of Filing Season
Lawmakers are calling on Treasury Secretary and acting IRS Commissioner Scott Bessent to ramp up IRS and Taxpayer Advocate Service …
Digital Asset Cost Basis Reporting, Backup Withholding Considerations
Digital asset experts at EY reminded taxpayers of new transaction reporting obligations that will take effect next year and explored …
Carbon Capture Credit Safe Harbor Creates 2025 Backup Reporting Method
The Treasury Department and the IRS have released guidance providing a safe harbor for taxpayers claiming the tax credit for …
Know How the OBBBA Will Impact You Long-Term, Tax Pro Advises
Jennifer Acuna, principal in KPMG’s Washington National Tax practice, stressed that proactive planning is essential for navigating the complexities of …
11th Circuit Upholds Corporate Transparency Act
In a major reversal, the U.S. Court of Appeals for the 11th Circuit has upheld the constitutionality of the Corporate …
Tax Credit Experts Urge Businesses to Model Strategies, Risks Now
Baker Tilly experts outlined key tax strategies for individuals and businesses navigating changes enacted by the One Big Beautiful Bill …
IRS Finalizes Regs on Tribal Entity Tax Status, General Welfare Benefits
The IRS has issued two sets of final regs addressing the federal tax treatment of entities wholly owned by Indian …