Red Hill Fuel Spill Payments Excluded From Income, IRS Announces
The IRS has announced that civilians who received payments from the Defense Department to reimburse expenses or damages caused by …
At Ceremonial Swearing-In Werfel Says Funding Plan Ready This Week
During his swearing-in ceremony as 50th IRS Commissioner on April 4, 2023, Danny Werfel took to the podium at the …
IRS to Provide Longer Transition Period for FTC Single-Country Doc Requirement
The IRS has announced that it will provide a longer transition period for the “documentation requirement” when the single-country exception …
IRS Issues New Clean Vehicle Credit Proposed Regs
The IRS has issued proposed regs regarding the Code Sec. 30D new clean vehicle credit. (Preamble to Prop Reg REG-120080-22, IR 2023-64, Fact …
Ways and Means Republicans Seek to Halt OECD Funding
Fundamental differences in taxation philosophies between Republican taxwriters and Organization for European Economic Co-Operation (OECD) prompted a group of House …
Supreme Court Hears Oral Arguments in IRS Record Summons Notice Case
On March 29, the Supreme Court heard oral arguments in a case to resolve a circuit-level split over the scope of statutory …
All Eyes on Werfel as New IRS Commissioner Settles Into Role
Now that the dust has settled from the confirmation process of the IRS’ new head official, much attention will be …
Comments Offer Roadmap of When to Apply Excise Tax on Corporate Stock Buybacks
Responding to an IRS notice providing interim guidance and asking for stakeholder input on a recently effective provision of the …
Commenters Call for Swift Clarification on Corporate AMT for Safe Harbor, Other Matters
Comments submitted to newly appointed IRS Commissioner Daniel Werfel on behalf of the American Bar Association’s (ABA) Section of Taxation …
CBO Scores Unemployment Fraud Bill With Caveat of ‘Significant Uncertainty’
A legislative proposal from House Republicans to give states incentives for recouping fraudulent unemployment insurance payments would reduce the federal …