Bipartisan House Bill Aims to Expand Child Care Tax Credits
Recently proposed legislation that would expand employer and household child care-related tax credits, as well as bolster a federal aid …
Ways and Means Seeks Input on Questionable EO Activities
The Committee on Ways and Means is conducting an investigation into whether entities that qualify as tax-exempt under Code Sec. 501 are …
McCarthy Tells GOP Lawmakers Short-Term Funding Bill Necessary
The House of Representatives will need a short-term funding measure come September as it struggles to coalesce around a budget …
Democrats, Policy Orgs Commend IRS for ‘Real Progress’ Made in First Year of New Funding
At a virtual event commemorating the one-year anniversary of the Inflation Reduction Act’s (PL 117-169) enactment, congressional Democrats and representatives …
IRS Obsoletes Notice on Exemptions, Waivers of Electronic Filing Requirements for Certain Returns
The IRS has obsoleted Notice 2010-13, which provided guidance on how certain filers could obtain administrative exemptions and waivers of the …
IRS Issues Final Regs and Guidance Regarding Increased Energy Credit
The IRS issued final regs and Rev Proc 2023-27 to provide guidance for owners of certain solar or wind facilities built in …
Treasury Announces Plans to Educate Small Businesses on Anti-money Laundering Rules
By Brett Wolf The U.S. Treasury Department’s anti-money laundering bureau will soon publish a guide and establish a support center …
Bipartisan House Bill Would Streamline New Additions to Taxable Vaccines List
Proposed legislation from two members of the House Ways and Means committee aims to automate the process of subjecting new …
Retirement Plan Sponsors Request Transition Relief From Section 603 Catch-up Contribution Change
A group of 50 retirement plan sponsors comprised of corporations, government entities, and other organizations sought transition relief from a …
Trustee Nabs Joint Income Tax Refund in Spouse’s Bankruptcy
By David J. Light An Ohio couple must pay their entire federal income tax refund, minus applicable exemptions, to the …