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IRS Eliminates 2024 RMDs for IRA Beneficiaries
Time Magazine· 3 days agoIRA beneficiaries take note: On April 16, 2024, the Internal Revenue Service (IRS) released new tax guidance under Notice 2024-35 exempting individual...
IRS Obsoletes Dated Guidance For Tax Exempt Organizations
Bloomberg Law· 6 days agoThe IRS released a revenue procedure and revenue ruling obsoleting previous guidance for certain exempt organizations.
IRS Direct File Expands To All 50 States For 2025
Forbes· 22 hours agoThe U.S. Department of the Treasury has announced the pilot Direct File program will be a permanent free filing option for all 50 states, starting in...
IRS Foreign Trust Reporting Plan Offers Rare Chance to Influence
Bloomberg Law· 3 days agoTaxpayers and their advisers have a rare chance to influence how the IRS should regulate foreign trusts and large foreign gifts, and they shouldn’t let that chance go to waste ...
Offshore Drilling Company Sues IRS for $36 Million Tax Recovery
Bloomberg Law· 10 hours agoRowan Cos., a Houston offshore drilling company now part of Valaris Ltd. sued the IRS for allegedly refusing to pay the business a $36.2 million income tax refund. Rowan, ...
IRS News Release: 2023 Federal Income Tax Return Filing Deadline Approaching (IRC §6072)
Bloomberg Law· 2 days agoTaxpayers living and working outside the United States are reminded to file their 2023 federal income tax return by Monday, June 17, the IRS stated. This deadline applies to both ...
Four Sacramento-area men sentenced in COVID-19 fraud scheme that involved ex-IRS worker
Modesto Bee via Yahoo News· 8 hours agoAttorney Ismail Ramsey said in a statement. “That one of these defendants was a former IRS revenue...
IRS says taxpayers who filed suspicious returns with key tax credits must verify their IDs
Detroit Free Press· 7 days agoThe IRS crackdown on what appears to be extensive fraud involving key but obscure tax credits...
IRS Issues New Safe Harbor for 10% Domestic Content Bonus | JD Supra
JD Supra· 3 days agoOn May 17, 2024, the IRS released Notice 2024-41, which provides new safe harbors for determining certain energy projects’ qualification for the 10%...
Seven Texas suspects plead guilty in $111 million IRS fraud scheme
CBS Austin· 8 hours agoSeven suspects, including from the Austin and Round Rock area, pleaded guilty last Friday to...