TIGTA Reviews IRS’ Purchase Card Violations Report
The Treasury Inspector General for Tax Administration (TIGTA) has released its statutorily required semiannual report of IRS employee purchase card …
IRS: Florida Victims of Hurricane Idalia Get Tax Relief
The IRS has provided tax relief to victims of Hurricane Idalia in Florida. These taxpayers now have until February 15, …
IRS Glitch Leads to Erroneous Form 8955-SSA Late Filing Notices
A national network of retirement plan professionals raised an issue to the IRS after members began to receive late filing …
Illinois Victims of Severe Storms and Flooding Get Tax Relief
The IRS has provided tax relief to victims of severe storms and flooding that began in Illinois on June 29, …
IRS Provides Transition Relief From Section 603 Catch-up Contribution Change
The IRS announced a two-year administrative transition period for the new Roth catch-up requirement. Section 603 of the SECURE 2.0 …
NATP Fee Study Shows Tax Becoming a ‘Graying Industry,’ Director Says
Commenting on the National Association of Tax Professionals’ biannual study on trends within the tax industry, an executive from the …
American Bar Association Comments on Proposed Elective Credit Payment Regs
Finalized regs implementing the direct pay election for certain credits under the Inflation Reduction Act (PL 117-169) need specific clarifications …
IRS Says Federal Credit Unions May Claim ERC for Certain Periods
In a Chief Counsel Advice, the IRS Chief Counsel’s Office addresses whether federal credit unions may claim the employee retention …
Child Tax Credit Bill Has One Fatal Flaw, Nonprofit Says
A recent legislative proposal introduced by a cohort of Senate Democrats to permanently restore the now lapsed expanded child tax …
Hawaii Wildfire Victims Provided with Disaster Tax Relief
The IRS has provided expansive tax relief for wildfire victims in Maui and Hawaii counties. Taxpayers who reside or have …