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IRS PLR: Extension of Time to Make Disregarded Entity Election Granted (IRC §7701)
Bloomberg Law· 1 day agoThe IRS has published a private letter ruling on Section 7701 regarding disregarded entity election, granting the taxpayer a 120-day extension of time to file an election under Section 301.7701-3 ...
Surprise! Here Are 3 Lesser-Known Income Sources the IRS Can Tax
The Motley Fool via AOL· 4 days agoAnd because of this, we're generally aware that when we earn money, whether it's from a full-time...
IRS Extends Phase-in Period for Dividend Equivalents Rule
Bloomberg Law· 4 days agoThe IRS extended transition relief for dividend equivalents for two more years in new guidance.
I Want to Give Money to My Daughter and Her Husband. How Much Can I Give Without Triggering Taxes?
MSN News· 18 hours agoPerhaps your daughter recently got married and you want to help her and her husband start their new...
Kelly Bullis: IRS says it’s increasing audit rates
Nevada Appeal· 5 days agoYou know one of the most wonderful feelings in life is knowing the IRS may be considering an audit of your business and or personal tax returns. Now that...
Tax Strategies And Schemes To Avoid Taxes At IRS Forefront | JD Supra
JD Supra· 6 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 ...
IRS Targets Charitable Remainder Annuity Trusts (CRATs) as Listed Transactions | JD Supra
JD Supra· 2 days agoOn March 25, 2024, the IRS issued proposed regulations (REG-108761-22) which, if finalized, would identify certain CRATs as listed transactions. For those unaware of the listed ...
IRS Corrects Omitted Components in Domestic Content Guidance
Bloomberg Law· 1 day agoThe IRS and Treasury Department issued a correction to recent domestic content guidance issued earlier this month after it inadvertently omitted applicable components from ...
Inflation Reduction Act Domestic Content Bonus Update: IRS Issues Updated Guidance with New Elective...
The National Law Review· 6 days agoOn May 16, 2024, the IRS released Notice 2024-41 (the “Notice”), modifying its preliminary guidance...
Crypto Broker Reporting Regulations Should Avoid Mismatch Risk
Bloomberg Law· 5 days agoThe IRS’s April 19 release of the draft Form 1099-DA—which will be used to report certain sales and exchanges of digital assets on or after Jan. 1, 2025—may indicate that ...