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IRS Announces Four Alternative Ways to Resolve Cases
WealthManagement.com· 7 hours agoThe Internal Revenue Service has announced four alternatives associated with the Appeals Alternative Dispute Resolution Program. Outside stakeholders...
The $230 billion donor-advised fund industry gets an IRS hearing
WWTI Watertown· 4 hours agoWASHINGTON (AP) — Congress and the Biden administration are considering what, if anything, should be...
Ohtani’s Interpreter to Plead Guilty to Stealing From Star
The Daily Beast· 5 minutes agoIppei Mizuhara, once spotted smiling alongside Ohtani nearly daily, is accused of using stolen funds...
Weekly IRS Roundup April 29 – May 3, 2024
The National Law Review· 1 day agoCheck out our summary of significant Internal Revenue Service (IRS) guidance and relevant tax matters for the week of April 29, 2024 – May 3, 2024. April...
IRS Issues New Regs on GST Allocations
WealthManagement.com· 5 hours agoTaxpayers must apply for a private letter ruling to get an extension.
IRS Direct File: 140K people used pilot program, but its future is unclear
WPRI Providence· 1 day agoThe government pilot program, rolled out this tax season in 12 states, allows people with very...
IRS Eyes Tax Basis Adjustments in Large Partnership Audits
Bloomberg Law· 5 hours agoIRS auditors are looking at how large partnerships are adjusting the tax basis of their assets as a part of a new campaign to audit pass-through entities, an agency official said.
IRS commissioner warns of worse customer service, lower tax collection if budget is cut
CBS Austin· 1 day agoIRS commissioner Daniel Werfel has made several pleas to lawmakers to leave the agency’s budget...
IRS Can Change Approach to $50 Million Partnership Sales Lawsuit
Bloomberg Law· 6 hours agoThe IRS can offer an alternative reason for adjusting a Florida partnership’s federal income taxes after it reported more than $50 million in gains from selling smaller companies with land interest, the US Tax Court said.
D.C. Court of Appeals Strengthens IRS’ Ability to Collect Penalties for Not Reporting Foreign...
JD Supra· 15 hours agoThe United States Court of Appeals for the D.C. Circuit issued a ruling overturning a Tax Court decision that had created doubt as to the manner in which the IRS may collect ...