TIGTA Reports Serious Challenges Facing IRS for FY 2023
J. Russell George, the Treasury inspector general for tax administration, has submitted a memorandum to Treasury Secretary Janet Yellen offering …
IRS Issues 2023 Tax Inflation Adjustments
The IRS announced inflation adjustments for tax year 2023. The items adjusted for annual inflation include tax rate schedules, the …
Transfer Pricing Audits Likely to Rise, Tax Expert Says
The IRS is poised to use its $80 billion appropriation from the Inflation Reduction Act (PL 117-169), over half of …
Labor Department Issues Proposed Worker Classification Rules
The U.S. Department of Labor (DOL) has published a proposed rule to revise the Department’s guidance on how to determine …
Final Regs Fix Premium Tax Credit’s ‘Family Glitch’
The IRS issued final regulations under Code Sec. 36B that change the rules for determining eligibility for the premium tax credit (PTC). …
Supreme Court Asked to Resolve Circuit Split Over Easement Reg
A partnership has petitioned the U.S. Supreme Court to review a Sixth Circuit ruling that a conservation easement regulation complies …
Rules Issued on Low-Income Housing Credit Average-Income Test
The IRS has provided guidance on the low-income housing credit’s average-income test. The final and temporary regulations affect owners of …
The Long Read: Tax Implications of College Collectives, NIL Deals
More than a year after the Supreme Court ruled that student-athletes can be compensated for the use of their name, …
Transparency Groups, Tax Pros Differ on Impact of Ownership Reporting Rules
Tax transparency advocates welcomed recently issued final regulations to require companies operating in the U.S. to disclose their beneficial owners, while some …
House Approves Funding Bill, Avoids Government Shutdown
The House of Representatives on September 30 approved a short-term spending measure and sent it to President Joe Biden for …