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IRS Heeds Call to Investigate Misuse of Puerto Rican Residency Tax Benefits | JD Supra
JD Supra· 3 days agoThe IRS is devoting greater resources to investigating and auditing wealthy Americans who have taken advantage of Puerto Rico’s lucrative tax benefits. The IRS< ...
IRS warns against scams targeting seniors
Wyoming Tribune-Eagle· 1 day agoWASHINGTON, D.C. – As part of continuing efforts to protect the senior community, the Internal Revenue Service issued a warning Wednesday about the rising threat of impersonation scams.
New Jersey Tax Preparer Sentenced 57-Months for Gambling Fraud
Covers.com· 10 hours agoOmar Khater of Fairfield, New Jersey was charged for using stolen identities to falsely declare...
IRS Private Letter Ruling Concludes REMIC Can Hold C-PACE Assessments | JD Supra
JD Supra· 2 days agoAccordingly, the PLR concludes that those C-PACE assessments will be permitted assets for a REMIC. The PLR is consistent with prior statements from the IRS regarding the treatment of special assessments as debt.
What’s Next for International Reporting Post-Farhy? | JD Supra
JD Supra· 14 hours agoLast April, in Farhy v. Commissioner, the Tax Court held that the IRS did not actually have authority to assess penalties under IRC § 6038. The result was devastating for ...
Supreme Court Rules In Favor Of IRS: Revise Redemption Plans Now
Forbes· 16 hours agoOn June 6, 2024, the U.S. Supreme Court issued a unanimous opinion on a closely held business valuation case that will have significant impact on many family and closely held businesses. The ...
Trump wants IRS to stop taxing workers’ tips, as Americans say tipping is ‘out of control’
Market Watch· 3 days agoCould the tax rules for tip income really vanish at a time when so much of the tax code’s current...
Fact Check: About Those $8,700 Stimulus Checks the IRS Is Supposedly Issuing to Qualifying Americans
Snopes· 3 days agoIn June 2024, Google's trending searches list displayed an enticing search string reading, "irs...
Former IRS employee indicted for $200K in fraudulent tax returns in Kansas City
KCTV 5 Kansas City· 2 days agoA former IRS employee from Grandview, Mo., has been federally indicted for more than $200,000 in...
Treasury Department and IRS Guidance Encourages Fuel Producers Eligible for Clean Fuel Production...
The National Law Review· 4 days agoOn May 31, 2024, the Department of the Treasury (Treasury Department) and the Internal Revenue...