Despite Passing Tax Bill, House Dems, Reps Disagree on Path Forward
While the bipartisan tax bill awaits action in the Senate, two House committees held hearings last week debating the merits …
R&D Expert: Capitalization, Amortization Requirement Hurts Smaller Businesses
An unpopular provision of the 2017 tax reform bill that disallows immediate expensing of research and development costs has created …
FCC Starts ‘Spring Cleaning’ by Quashing Fake Tax Relief Robocalls
The Federal Communications Commission’s Enforcement Bureau launched a “Spring Cleaning” initiative to crack down on harmful robocalls and phone scams, …
Corporate Stock Repurchase Excise Tax Prop Regs Issued
The IRS has issued proposed regs that would provide guidance concerning the 1% excise tax owed on corporate stock repurchases. …
Treasury Holds Roundtable, Issues Fact Sheet on New E-Filing Tool
By Maureen Leddy, Checkpoint The Treasury Department recently held a virtual roundtable discussion with taxpayers who used the IRS’ new Direct File tool to …
Complaint Against H&R Block Alleges False Advertising of Free Tax Prep
Two individual H&R Block customers filed a class action lawsuit against the company, claiming the cost of its online tax …
Exempt Org Group Calls for Fixes to IRS Business Master File, Databases
The IRS’ Exempt Organization Business Master File (EO BMF) suffers from a multitude of errors with long turnaround times to …
IRS Further Extends Tax Relief for 2023 Hawaii Wildfire Victims
he IRS has extended an earlier postponement, until August 7, 2024, for individuals and businesses with filing and tax-payment deadlines …
Payroll Fraud in the News: Types of Fraud and How to Prevent It
By Debbie Tam A recent report released by the Association of Certified Fraud Examiners (ACFE) revealed that payroll fraud schemes make up …
Tax Court: Petition Was Timely Filed, Filing Period Subject to 60-Day Disaster Extension
Petitioners were entitled to an automatic, mandatory 60-day postponement period to file their Petition. Therefore, petitioners’ petition was filed timely, …