Treasury Official Sheds Light on Sec. 761(a), Clean Energy Credit Elective Payment Election Regs
Attorney Advisor Sarah Haradon of the Treasury Department Office of Tax Policy shared the rationale behind the issuance of proposed …
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 …