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IRS, Treasury Look to Challenge So-Called Basis-Shifting Transactions, But It Won’t Be Easy | JD...
JD Supra· 7 days agoThe Department of the Treasury (“Treasury”) and the Internal Revenue Service (“IRS”) announced the latest chapter in the long-trumpeted enforcement initiative aimed at large ...
U.S. IRS asked to delay crypto tax reporting rules
TheStreet.com· 4 days agoMetaMask developer says the IRS is imposing a "costly compliance burden." The U.S. Internal Revenue Service (IRS) has been asked by a blockchain firm to ...
Consensys Requests Delay In IRS Crypto Reporting Regulations
Cryptonews· 4 days agoBlockchain development firm Consensys formally requested the U.S. Internal Revenue Service (IRS) on June 21 to delay the implementation of proposed tax regulations requiring ...
Wife Liable for Tax on Husband’s IRA Pull, but Not IRS Penalty
Bloomberg Law· 22 hours agoA New Jersey woman can’t claim innocent spouse relief over a $15,000 federal tax bill , the US Tax Court ruled, but the IRS didn’t meet the burden to sustain a $3,000 penalty ...
MI AG's office warns of new IRS imposter scam targeting businesses
WZZM 13 Grand Rapids· 7 days agoAccording to the AG's Office, scammers are contacting businesses pretending to be the IRS and...
IRS adds another state to Direct File, as House Republicans seek to defund it
Federal News Network· 7 days agoThe IRS is recruiting another state to participate in its Direct File platform, which lets...
Blockchain Association objects to IRS broker rule in letter
The Cointelegraph· 4 days agoThe Blockchain Association is once again objecting to the Internal Revenue Service's (IRS) proposed broker-dealer rules; this time focusing on the undue burden the rules would ...
IRS Likely To Increase Scrutiny On The Puerto Rico Act 22 Tax Break
Forbes· 5 days agoPuerto Rico's legislature passed Act 22 in 2012, according to critics in Congress, “to attract wealthy foreigners and mainlanders to Puerto Rico by offering generous tax-related benefits.” “ ...
IRS Issues Basis Shifting Guidance for Partnerships, Proposes Reporting Requirements | JD Supra
JD Supra· 7 days agoThe Internal Revenue Service (IRS) and U.S. Department of Treasury recently issued guidance to curtail what they consider abusive basis shifting by related-party partners ...
IRS Issues Guidance On Penalty Exceptions For Emergencies And Domestic Violence Victims
Forbes· 2 days agoAs part of the SECURE 2.0 Act, exceptions now also include distributions for emergency personal...