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IRS can tax death benefits used to purchase stocks, high court rules
Courthouse News Service· 1 day agoContractual agreements to purchase shares of deceased CEOs do not diminish the value of those...
Is Private Placement Life Insurance the Next IRS Tax Enforcement Target? | The Legal Intelligencer
Law.com· 3 days agoAlthough this funding did and continues to fill important IRS needs for tax enforcement resources,...
House Republicans aim to end IRS’s Direct File in 2025 appropriations bill
FedScoop· 20 hours agoThe House GOP’s Financial Services and General Government Appropriations Bill, released this week by committee Chair Tom Cole, R-Okla., targets the IRS’s Direct File program ...
House GOP propose defunding IRS Direct File, further budget cuts to enforcement
Federal News Network· 2 days agoHouse Republicans are proposing defunding the IRS’ Direct File platform, which allows households to...
IRS makes free tax return program permanent and is asking all states to join in 2025
WCVB Boston· 5 days agoThe IRS tried the Direct File project for the 2024 tax season on a limited basis in 12 states for...
Will Smith Recalls Not Paying His Taxes for 2 Years After Grammy Win
US Weekly· 3 hours agoDespite his fame and success, Smith experienced financial troubles in the late 1980s into 1990 after...
Democrats fume over proposed IRS cuts
The Hill via Yahoo News· 19 hours agoDemocrats are fuming mad over Republican proposals to scale backIRS funding and defund the agency’s new free online tax filing system. House Ways and...
Tax Court: IRS Must Adhere to BBA Regulations' Plain Language | JD Supra
JD Supra· 4 days agoNo. 10 (2024), that the petitioning partnership had properly elected into the Bipartisan Budget Act of 2015 (BBA)1 procedures for the year in issue. As a result, the Notice of Final Partnership ...
IRS Can Deny Charitable Tax Deductions When You Get Something Back
Forbes· 4 days agoDonations to charity are supposed to be motivated by generosity, not to benefit in a business deal in which you get something in return. How does the IRS determine if a purported ...
High Court Estate Tax Ruling Forces Succession Planning Revamps
Bloomberg Law· 3 hours agoEstate lawyers will have to reevaluate their options for reducing taxes for family businesses...