Reminder: Extended 2022 Return Due Dates Fast Approaching for Individuals, Corporations
The IRS reminds taxpayers of the October 16 tax filing extension deadline. To avoid a possible late filing penalty, those …
Congress Passes Last Minute CR Funding Government for 45 Days
On Saturday, September 30, 2023, Congress passed a last minute continuing resolution (HR 5860) that funds the federal government at …
IRS Issues New Procedure on Wash Sale Rules for Money Market Funds
The IRS has issued a new procedure covering the wash sale rules for money market funds. The new procedure describes …
Senate Finance Grills IRS Chief Counsel Nominee
The Biden Administration nominee to serve as IRS Chief Counsel underwent critical questioning by Republican members of the Senate Finance …
Proposed Rules for Reporting Excise Tax Liability on Designated Drugs Issued
The IRS has issued proposed regs that will provide guidance to taxpayers on how to report their liability for the excise tax …
IRS Forming Backup Plans as Government Shutdown Nears
The IRS is forming contingency plans as the likelihood of a government shutdown approaches, the union representing Treasury and IRS …
IRS Announces Tax Relief for Hurricane Lee Victims in Maine and Massachusetts
The Internal Revenue Service (IRS) has announced that taxpayers impacted by Hurricane Lee in Maine and Massachusetts are now eligible …
Win for Taxpayers in Transition Tax Case Would Cast ‘Cloud of Uncertainty,’ Analysts Say
By Tim Shaw Tax and legal analysts are forecasting a possible chaotic domino effect should the Supreme Court rule in …
Experienced Accountants Sought by IRS for New Large Corp, Partnership Auditor Positions
The IRS has posted over 3,700 new job openings for revenue agents specializing in large corporate and complex partnership compliance …
US Treasury Bureau Releases Beneficial Ownership Reporting Guide, Industry Displeased
By Brett Wolf U.S. Treasury Department’s anti-money laundering bureau has released a much-anticipated guide aimed at helping small businesses comply …