Senate Report: Scam Victims Harmed by Casualty, Theft Loss Deduction Change
The Senate Special Committee on Aging published a report with its findings from an investigation into how the elimination of …
Senators Question IRS Commissioner on Spending, Budget
The Senate Finance Committee heard from IRS Commissioner Danny Werfel about how the agency spent $80 billion in funding this …
IRS 2024 Tax Filing Season; Expands Services on Phones, In-Person and Online
The IRS highlighted a variety of improvements that expanded service for millions of taxpayers during the 2024 filing season. (IR …
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 …