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IRS: Many train derailment payments are tax-free
WKBN 27 Youngstown· 2 days agoOhio Senator Sherrod Brown announced Wednesday that most reimbursements that Ohioans received from Norfolk Southern related to the East Palestine train...
...JD Supra: Treasury Department and IRS Issue Final Regulations Regarding the Transferability ofTax...
JD Supra· 2 days agoThe final regulations adopt the provisions of the previously proposed regulations with modest modifications and clarifications. The registration portal for transferring tax
IRS Notice: Certain Relief Payments Made to Individuals Affected by Last Year’s Ohio Train...
Bloomberg Law· 2 days agoThe Feb. 3, 2023, derailment of a freight train operated by a common carrier in East Palestine, Ohio, is a qualified disaster for purposes of I.R.C. §139, the IRS announced ...
IRS Issues Fact Sheet on Disaster Relief Distributions and Plan Loans | JD Supra
JD Supra· 5 days agoHistorically, the IRS and Congress released certain disaster relief exemptions with respect to retirement plans on a disaster-by-disaster basis. The Federal ...
JD Supra: IRS Issues Final Regulations on Tax Credit Transfers
JD Supra· 5 days agoTreasury and the IRS confirmed that, if a partnership has not elected direct pay for credits pursuant to Sections 45V, 45Q, or 45X, it may qualify as an eligible taxpayer ...
Keith L. Jones, CPA Announces Exclusive Sponsorship of Tax Mob 2024 Cocktail Party
Digital Journal· 2 days agoJones, CPA empowers clients to navigate complex tax issues with confidence and clarity. Keith Jones, CPA, TheCPATaxProblemSolver is a highly trusted tax ...
Tax relief for train derailment victims in Pa. gains momentum in General Assembly
The Daily Item, Sunbury, Pa. via Yahoo News· 2 days agoJun. 5—HARRISBURG — A unanimous vote in the Pennsylvania Senate advanced a bill that would exempt Pennsylvanians near the Ohio border impacted by the Norfolk Southern train derailment from paying ...
New Generation-Skipping Tax Regulations Offer a Crucial Lifeline
Bloomberg Law· 3 days agoThe IRS’s final generation-skipping tax, or GST, exemption regulations offer exciting news for taxpayers by ultimately providing more relief< ...
Carillon developer sentenced to 1-1/2 years in prison for pandemic loan fraud
Miami Herald via Yahoo News· 3 hours agoAlmost all have been convicted, while others still await trial. Of those convicted: a businessman...
Wealth Management Update June 2024
The National Law Review· 3 days agoThe June Section 7520 rate for use in estate planning techniques such as CRTs, CLTs, QPRTs and GRATs is 5.60%, an increase from the May rate of 5.40%....