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 …
NTU to Prioritize TCJA Fixes, Clawing Back IRS Enforcement Funds, Director Says
The 2023 policy agenda of the National Taxpayers Union includes working with both parties in Congress to pass bipartisan revisions …
Treasury Officials Tease Upcoming OECD Pillar Two Guidance
The Organization for Economic Co-operation Development (OECD) is working with the U.S. to release guidance on its global minimum tax …
Ways and Means Chairman Plans Aggressive IRS Oversight, Implements Direct Online Committee Portal for Agency Whistleblowers
The House Ways and Means Committee has established an online form to assist IRS personnel who wish to submit information confidentially to …
Client Update: How to Treat Tips for Tax Purposes
Individuals who perform services in certain industries receive tips as part of their compensation for the services they provide. Businesses …
Tax Court: Engineering Firm Was Entitled to Energy Efficient Commercial Building Property Deduction
The Tax Court has found that an engineering company that installed energy efficient commercial building property (EECBP) in a Veterans …
Yellen Forced to Cut Another Investment in Federal Employees Retirement Funds Due to Debt Limit
The Federal government has stopped its investment in another federal employees’ retirement fund due to its breaching the debt limit …
Supreme Court Declines to decide if FBAR Penalties Violate 8th Amendment
The U.S. Supreme Court will not take up a case where it would have needed to determine if foreign bank …
Revenues From Two-Pillar Plan Higher Than Expected, OECD Estimates
The Organization for Economic Cooperation and Development has adjusted upwards revenue estimates from its international tax framework, with a full …