Republicans Call for Harsher Data Leak Penalties; IRS Tightens Security
publican lawmakers, led by House Ways and Means Committee Chair Jason Smith (MO), have introduced legislation that would increase penalties …
IRS Increases Security Measures for Practitioners Obtaining Client Transcripts
In an attempt to stem the tide of identity theft and refund fraud, the IRS has announced increased security measures …
Senate Tax Advisor: New Energy Credits Likely Safe From ‘Full Repeal’ in 2025
Various energy tax credit programs amended or created by the Inflation Reduction Act (PL 117-169) likely will not be outright …
Experts Discuss Impacts of TCJA Expirations on S-Corps, Path Forward
Hill staff and tax practitioners considered how allowing Tax Cuts and Jobs Act (TCJA; PL 115-97) provisions to expire would impact …
Second Billionaire Sues Over IRS Data Leak
Update: This article was revised to add a statement from Booz Allen. Following the sentencing of a former IRS contractor …
DC Circuit: IRS Can Assess Sec. 6038(b) Penalties
The IRS has the statutory authority to assess penalties for failing to report control of foreign businesses, the DC Circuit …
IRS Gives First Annual Update on Inflation Reduction Act Spending
A year after releasing its game plan on how it intends to spend additional funding from the Inflation Reduction Act …
No Tax Hikes for Middle Class, Says Yellen
Despite Tax Cuts and Jobs Act (TCJA; PL 115-97) provisions that are set to expire, Treasury Secretary Janet Yellen told the House …
GAO Issues Latest Report on Financial Audit of IRS
The Government Accountability Office (GAO) released a report addressed to IRS Commissioner Danny Werfel which “is intended for IRS management’s …
Corporate Transparency Act Case Wrongly Decided, Say Lawmakers
Five lawmakers have submitted an amicus brief arguing that an Alabama federal district court wrongly found the Corporate Transparency Act (CTA) — …