Bipartisan Bill Exempting Broadband Grants Reintroduced
Legislation recently proposed in the previous Congress that would shield certain federal grants for broadband internet deployment projects from taxation …
Bridge Plus Phrase to Compliance Assurance Process Program to be Piloted
The IRS is piloting changes to the Bridge phase of the Compliance Assurance Process (CAP) program, according to an IRS …
Senate Finance Finalizes Roster With Three New Republicans
The Senate Finance Committee roster for the 118th Congress includes 14 Democrats and 13 Republicans, with three new GOP members …
Senate Finance Committee Schedules IRS Commissioner Confirmation Hearing
Several months removed from former IRS Commissioner Chuck Rettig’s departure, the Senate Finance Committee will consider President Biden’s nomination of …
Corporate Alternative Minimum Tax Depreciation Guidance Is Limited, Tax Pro Says
Preliminary guidance on the corporate alternative minimum tax (CAMT) released by the IRS late December does not go far enough …
CPAs Promote Simplicity, Fairness in 2023 Tax Proposals
The American Institute of Certified Public Accountants (AICPA) on February 7 released its compendium of tax legislative proposals for 2023, spanning …
New Service Industry Tip Reporting Program Proposed
The IRS has issued a proposed revenue procedure that would establish the Service Industry Tip Compliance Agreement (SITCA) program. SITCA …
House Democrats Call for Probe into Disclosure of Taxpayer Information to Facebook
A group of House Democrats are calling for an investigation into major online tax filing companies over their disclosure of …
Former Taxpayer Advocate: IRS Reform Should Not Be Done ‘in a Vacuum’
Transformation at the IRS, propelled by the $80 billion appropriation from the Inflation Reduction Act (PL 117-169), should involve more …
CRS: Stock Buyback Issues Still Need IRS Clarification
According to Congressional Research Service (CRS) report R47397 issued January 25, a few repurchase issues with regards to the recently-enacted 1% excise tax …