Insurers Provided Discount Factors for 2023 Accident Year
The IRS has issued a revenue procedure containing the discount factors for the 2023 accident year. This discount factor is …
FTC Expands Reporting Regulations for Non-Bank Financial Institutions
By Todd Ehret New regulations from the US Federal Trade Commission (FTC) will change the regulatory landscape for non-banking financial …
Supreme Court Hopes to Avoid Tax Code Upheaval in Moore Ruling
Regardless of whether the Supreme Court rules in favor of petitioners or the government in a constitutional challenge to the …
Pillar 2 Work Progressing Despite Lack of US Implementation, Treasury Official Says
Although the US has not yet implemented the two-pillar global tax plan from the Organization for Economic Co-operation and Development …
Proposed Reliance Clean Vehicle Credit Regs Discuss Foreign Entity of Concern Rules
The IRS has issued proposed reliance regs that would provide guidance regarding the excluded entity provisions with respect to the Code …
IRS to Shutdown Business Filing Tuesday, December 26
In a Quick Alert for Tax Professionals, the IRS announced that it will shut down its modernized e-filing system (MeF) for …
FinCEN Extends Beneficial Ownership Information Reports Deadline for New Entities
The Financial Crimes Enforcement Network (FinCEN) has extended the deadline for new entities to file their initial beneficial ownership information (BOI) reports. …
Prop Regs for Long-Term Part-Time Employees With 401(k) Plans
The IRS has issued proposed reliance regs that would amend the rules applicable to Code Sec. 401(k) plans to provide guidance with …
IRS Quashes OSHA Guidance Tactic for ERC Eligibility
Taxpayers cannot rely on communications from the Occupational Safety and Health Administration (OSHA) during the COVID-19 pandemic to meet the …
Form 1099-K Reporting Threshold Change Delayed; Phase-In to Start 2024
After facing pushback from the tax community and third-party payment facilitators, the Form 1099-K reporting threshold will remain unchanged for …