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IRS says 'vast majority' of 1 million pandemic-era credit claims show a risk of being improper
Associated Press via Yahoo Finance· 5 days agoThe Internal Revenue Service said Thursday a review of 1 million claims for the Employee Retention...
COMMENTARY: IRS’s Direct File folly is a costly distraction from needed reforms
Las Vegas Review-Journal· 4 days agoThe IRS recently unveiled plans to make its Direct File program permanent and expand it to more...
U.S. lawmakers turn up the heat over Nigeria’s unlawful detention of Binance exec
Fortune via AOL· 21 hours agoTigran Gambaryan is an American hero. He served his country as an IRS special agent for a decade,...
IRS penalties on American taxpayers surged nearly 300% last year
FOX Business· 5 days agoThe IRS hit Americans with $7 billion in tax penalties in 2023, a record-high level that marks a...
IRS Notice: Chemical Superfund Excise Tax List Modified to Include Polyoxymethylene (IRC §4672)
Bloomberg Law· 17 hours agoList of taxable substances subject to excise tax is modified to include polyoxymethylene, the IRS announced. Effective for tax purposes on Oct. 1, 2024. Effective for refund claims purposes under ...
IRS to target wealthy’s use of loophole: ‘Billions are at stake here’
The Patriot-News· 6 days agoThe IRS plans on targeting a loophole used by wealthy Americans and corporations to avoid paying...
IRS Finalizes Guidance on Partnerships’ Conservation Easements
Bloomberg Law· 21 hours agoThe IRS on Monday issued final guidance on an amendment to the US tax code limiting partnerships’ ability to take a tax deduction for charitable contributions of conservation ...
Pushing for some low-risk processing
Politico· 20 hours agoWHERE DO YOU GO FROM HERE? The IRS said last week that it was keeping its current moratorium on processing new claims for the Employee Retention Credit, arguing that the vast ...
IRS Finalizes 2024 Federal EV Tax Credit Rules: Key Updates on Eligibility - EconoTimes
EconoTimes· 6 days agoThe IRS has finalized its 2024 regulations for the federal tax credit program for electric vehicles,...
IRS Notice: Inflation Adjustment Factors, Applicable Amounts for Credit for Production of Clean...
Bloomberg Law· 17 hours agoInflation adjustment factors and applicable amounts for the credit for production of clean hydrogen under I.R.C. §45V for calendar years 2023 and 2024, the IRS released. [Notice 2024-45, 2024-26 I.R.B. ...