Expiring Income, Estate Tax Provisions Will Increase Taxes on Farmers, Study Finds
Sunsetting provisions of recent major tax legislation benefiting individuals and businesses are expected to raise tax bills on farm households …
High-Earning Non-filers Focus of Latest IRS Enforcement Campaign
In the latest announcement from the IRS on compliance enforcement activities funded by the Inflation Reduction Act (PL 117-169), Commissioner …
District Court Finds COVID Proxy Voting Rule Unconstitutional
A Texas federal district court has found that the COVID-era proxy voting rule is an unconstitutional violation of the Constitution’s …
FAQs Address Agriculture Department’s Discrimination Financial Assistance Program
The IRS has issued frequently asked questions (FAQs) addressing the Department of Agriculture’s (USDA) Discrimination Financial Assistance Program, which was …
Arizona Sues IRS Over Federal Tax on State Refund
The Arizona Attorney General filed a complaint against the IRS after the agency did not budge on its stance that …
Many Accounting Firms Will Be Required to Comply With New Beneficial Ownership Reporting Rules
By PPC Staff In January, we gave you a heads up on the beneficial ownership reporting requirements under the Corporate Transparency Act. …
Energy Sector Pushes Back Against Investment Tax Credit ’80/20 Rule’
Representatives from the energy industry asked the IRS to further clarify or outright eliminate an eligibility test included in proposed energy …
IRS Crackdown on Personal Use of Corporate Aircraft Takes Off
he IRS announced it will use enforcement funds from the Inflation Reduction Act (PL 117-169) to initiate dozens of new …
Tax Court Rejects IRS Clawback of Low-Income Housing Credit
The Tax Court rejected the IRS’ attempt to recapture low-income housing credits from a real estate developer and determined that …
House Blocks SALT Marriage Penalty Relief Bill
A bill that would allow married joint filers with incomes up to $500,000 to have their own $10,000 state and …