Direct E-File Pilot Program Will Be Available in 13 States, IRS Says
The upcoming pilot program for an in-development tax preparation and electronic filing option operated by the IRS will be limited …
Inflation Reduction Act Progress Report Pt. 2: Industry Impact
Tax professionals are giving the IRS credit for how it has prepared to administer the dozens of tax provisions under …
Inflation Reduction Act Progress Report Pt. 1: Rubber Meet Road
Since the enactment of landmark legislation last summer packed with tax provisions intended to incentivize green energy project development or …
Social Security Wage Base Increases to $168,600 in 2024
The Social Security Administration (SSA) announced that the maximum earnings subject to Social Security (OASDI) tax will increase from $160,200 to …
IRS Warns High-Income Taxpayers About Danger of Improper Art Donation Deduction Promotions
The IRS has cautioned taxpayers to be on the alert for promotions involving “exaggerated art donation deductions” that are aimed …
TIGTA Assesses Development of IRS-Run E-Filing System
The Treasury Inspector General for Tax Administration (TIGTA) has released an audit initiated to assess the IRS’ compliance with a …
IRS Publishes the Unused Housing Credit Carryovers for 2023
The IRS has published the unused low-income housing tax credit (LIHTC) carryovers for calendar year 2023. The IRS has allocated …
Prop Regs and Other Guidance on EV Car Credit Transfer Rules
The IRS has issued proposed regs and a revenue procedure that would provide guidance for taxpayers who purchase qualifying previously-owned …
Prop Regs: Triangular Reorganizations and Nonrecognition Transactions
The IRS has issued proposed reliance regs related to triangular reorganizations and nonrecognition transactions. The proposed regs adopt, with modifications, …
Lawmakers Press IRS on Tax Fairness, Employee Retention Credit Fraud
With a government shutdown averted for the time being, members of Congress in both chambers this week have refocused attention …