PGA Tax-Exempt Status in the Rough Following LIV Golf Merger
Congressional lawmakers have raised concerns about the validity of the U.S.-based golf organization’s tax-exempt status after a surprise announcement of …
Supreme Court Will Not Rehear FBAR Penalty Case
The Supreme Court declined again to take up a grandmother’s challenge of a $2 million penalty assessed by the IRS …
IRS Updates Energy Community Bonus Credit Info
The IRS has updated previously issued guidance for determining what constitutes an energy community for the energy production and investment …
Senate Democrats Reintroduce Child Tax Credit Legislation
Over 40 Democratic senators have signed on to a bill that would make the 2021 expansions of the child tax …
Bipartisan Bill Would Move Estimated Tax Deadlines to Quarterly Basis
Proposed legislation to set estimated tax due dates to even, quarterly intervals has resurfaced in the House and enjoys support …
House Republicans Introduce Broad Package of Tax Breaks
House Ways and Means Republicans have introduced a package of mostly small business tax bills which include a subsequent extension …
Reminder: 2023 Q2 Estimated Tax Payments Due June 15
In a News Release, the IRS has reminded taxpayers that the 2023 second quarter (Q2) estimated tax payment is due …
House Dem Duo Seeks Crypto Reporting Regs
A pair of Democratic House members urged the Treasury Department and the IRS to issue proposed regs reflecting digital asset …
Ways and Means Chair Introduces Bill to Remove Tax Paperwork for Small Businesses
House Ways and Means Committee Chairman Jason Smith, Republican of Missouri, and Representative Jimmy Panetta, Democrat of California, introduced legislation on June …
Biden Announces IRS Chief Counsel Nominee
President Joe Biden has tapped Marjorie Rollinson as his nominee to fill the position of IRS chief counsel, which has …