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Senior Center Stops IRS Bid to Resurrect $20 Million Adjustment
Bloomberg Law· 6 days agoThe IRS can’t adjust a California senior care facility’s income upward by $20 million, because the center’s entrance fee reports accurately reflect income, the Ninth Circuit said Monday.
IRS may raise jackpot withholding level to $5,800
Las Vegas Review-Journal· 6 days agoGenerally, any interaction with the Internal Revenue Service means something bad has happened. The agency never sends you a letter saying “thanks for...
IRS Racial Audit Disparities Need Accountability to Be Resolved
Bloomberg Law· 6 days agoThe IRS finally acknowledged this month what Stanford’s Institute for Economic Policy research uncovered in 2023: Racial disparities in taxpayer audit rates have negatively ...
IRS Obsoletes Dated Guidance For Tax Exempt Organizations
Bloomberg Law· 2 days agoThe IRS released a revenue procedure and revenue ruling obsoleting previous guidance for certain exempt organizations.
Is it too late to get tax relief?
CBS News· 4 days agoTax season has come and passed but, for many, the burden of owing taxes is still a concern. While most Americans receive tax refunds, there are millions...
IRS Updates PTC and ITC Domestic Content Bonus Guidance | JD Supra
JD Supra· 4 days agoOn May 16, 2024, the Internal Revenue Service (IRS) issued further guidance (Notice 2024-41, the Additional Notice) intended to provide clarity and certainty surrounding the ...
IRS Distributes New Ruling Requirements for Corporate Spin-Off Transactions | JD Supra
JD Supra· 6 days agoEarlier this month, the IRS released Revenue Procedure 2024-24, which sets forth new requirements for requests for private letter rulings ("PLRs") on corporate spin-off and ...
IRS PLR: Extension Request to Change Accounting Period Denied (IRC §442)
Bloomberg Law· 6 days agoThe IRS has published a private letter ruling on Section 442 and Treasury Regulation Section 301.9100 regarding the extension of time to request a change in the applicable accounting period. ...
Dirty Dozen 2024 | JD Supra
JD Supra· 3 days agoOn 4/11/24, the IRS concluded the release of the Dirty Dozen 2024. The Dirty Dozen is an annual taxpayer awareness campaign which began in 2002 listing twelve scams and schemes ...
Tax Strategies And Schemes To Avoid Taxes At IRS Forefront | JD Supra
JD Supra· 7 days agoOn 4/11/24, the IRS wrapped up its 2024 Dirty Dozen List with a “warning to taxpayers regarding promoters selling bogus tax strategies and fraudulent offshore schemes designed ...