Prop Regs: Some CRATs to be Listed Transactions
The IRS has issued proposed regs that would identify certain charitable remainder annuity trust (CRAT) transactions and substantially similar transactions …
IRS Proposes to Amend Rules for Providing Advance Notice of Third-Party Contacts
The IRS has proposed updating the rules for providing taxpayers with advance notice of third-party contacts to conform to the …
Senators Revive Caterpillar Tax Probe Inquiry
Two Senate Democrats asked the head of the Justice Department to shed light on the Tax Division’s prior handling of …
Werfel: Accuracy, Analytics at Heart of IRS Strategy
By using funding from the Inflation Reduction Act (PL 117-169), the IRS can better leverage data to set a more …
Reminder: March 22 Deadline for ERC-VDP; Review Claims to Avoid Penalties, Interest
The IRS has reminded employers that March 22, 2024, is the deadline for the IRS’ Employee Retention Credit (ERC) Voluntary …
Scholars Mull Framework of Potential Renters’ Tax Credit
The American Bar Association hosted a webinar March 12 to consider how a federal tax break for home renters might …
Pillar Two Experts Offer Considerations for Multinationals
The current state of the international tax community’s gradual adoption of the 15% global minimum tax on multinational enterprises (MNEs) …
OPR: Withdrawing Old Client Authorizations Protects Client Data
The IRS’ Office of Professional Responsibility (OPR) has issued an alert recommending that Circular 230 practitioners routinely withdraw client authorizations when the …
IRS: Nonfilers Must Claim 2020 Recovery Rebate Credit by May 17
Individuals who are eligible to claim the 2020 Recovery Rebate Credit (RRC) because they didn’t get an Economic Impact Payment …
Lawmakers Urge IRS to Close Corporate Airfare Tax Loophole
On the heels of President Biden’s State of the Union Address and a recent IRS announcement of a new enforcement …