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Ankner Outcome Shows IRS Won’t Always Win on Tax Shelter Disputes
Bloomberg Law· 12 hours agoA taxpayer victory this spring in a captive insurance dispute involving promoter penalties shows that despite the IRS’s willingness to litigate such cases, the government ...
IRS Tax Loophole
Anacortes American· 8 hours agoFILE - A sign for the Internal Revenue Service building in Washington, May 4, 2021. The IRS plans to end another major tax loophole that could raise more...
IRS Covid Tax Credit Backlog Grows to 1.4 Million Claims
Bloomberg Law· 5 hours agoThe inventory of the IRS’s pandemic-era tax credit claims has grown to 1.4 million, with most claims filed before the processing pause, Deputy Commissioner ...
IRS PLR: Consent to Make Retroactive Qualified Electing Fund Election Granted (IRC §1295)
Bloomberg Law· 2 hours agoThe IRS has published a private letter ruling on Section 1295, and Treasury Regulation Section 1.1295-3, regarding making a retroactive Qualified Election Fund (QEF) election. [PLR 202424001]
IRS PLR: Extension Granted to File Form 8996 for Election to Self-Certify as QOF (IRC §1400Z)
Bloomberg Law· 3 hours agoThe IRS has published a private letter ruling on Section 1400Z, and Treasury Regulation Section 301.9100, regarding extensions of time to self-certify as a Qualified Opportunity Fund (QOF). [PLR 202424019] ...
Millions of taxpayers face Monday deadline to pay IRS
Scripps News via AOL· 3 hours agoThe IRS said taxpayers can use the Tax Withholding Estimator to help ensure that the right amount of...
The IRS wants to end another major tax loophole for the wealthy and raise $50 billion in the process
WFMJ Youngstown· 6 hours agoThe IRS says filings for large pass-through businesses used for the type of tax avoidance in the...
U.S. Treasury, IRS to close $50 bln tax loophole on partnerships
Reuters· 7 hours agoThe U.S. Treasury and Internal Revenue Service said on Monday they will close a tax loophole...
Should You Handle Your Own IRS Tax Audit Or Hire A CPA Or Lawyer?
Forbes· 16 hours agoFor one thing, if you are having direct communications with the IRS (or state tax agency), the...
IRS PLR: Extension of Time Granted to Make Qualified Terminable Interest Property Election (IRC...
Bloomberg Law· 3 hours agoThe IRS has published a private letter ruling on Sections 2056 and 2652, and Treasury Regulations Section 301.9100, regarding extensions of time to make a qualified terminable interest property (QTIP) ...