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IRS Will Deny Billions Of Dollars Of ‘Clearly Improper’ Employee Retention Credit Claims
Forbes· 19 hours agoAfter a detailed review, the IRS says it plans to deny tens of thousands of improper high-risk...
Treasury and IRS Announce New Attack on Partnership Basis-Shifting Structures and Establishment of...
The National Law Review· 4 hours agoOn June 17, 2024, the IRS announced the formation of a dedicated group in the Office of Chief...
U.S. IRS asked to delay crypto tax reporting rules
TheStreet.com· 3 hours agoMetaMask developer says the IRS is imposing a "costly compliance burden." The U.S. Internal Revenue Service (IRS) has been asked by a blockchain firm to ...
IRS Likely To Increase Scrutiny On The Puerto Rico Act 22 Tax Break
Forbes· 13 hours agoPuerto Rico's legislature passed Act 22 in 2012, according to critics in Congress, “to attract wealthy foreigners and mainlanders to Puerto Rico by offering generous tax-related benefits.” “ ...
The IRS Is Targeting Partnership Transactions: Is Your Representative Ready? | JD Supra
JD Supra· 11 hours agoEarlier this week, Treasury and the IRS issued guidance to halt the use of partnership rules in the Internal Revenue Code to engage in abusive basis-shifting transactions ...
COMMENTARY: IRS’s Direct File folly is a costly distraction from needed reforms
Las Vegas Review-Journal· 19 hours agoThe IRS’ customer service also suffers as resources are diverted to Direct File. Large areas of the...
IRS has 37,000 webpages. About 2% get nearly all of its traffic
Federal News Network· 20 hours agoThe IRS website includes tens of thousands of pages, but nearly all of its web traffic goes to a...
IRS says 'vast majority' of 1 million pandemic-era credit claims show a risk of being improper
Associated Press· 22 hours agoAbout 10% to 20% of the 1 million claims show “clear signs of being erroneous” and tens of thousands...
JD Supra: IRS Extends Post-Death RMD Relief Under the 10-Year Rule for 2024 Distributions
JD Supra· 23 hours agoIRS provided that failures to distribute “Specified RMDs” (as defined below) in 2021 and 2022 will not be treated as plan qualification failures or trigger the excise tax ...
Democrat asks IRS to investigate nonprofit with ties to Kari Lake campaign, legal team
Arizona Mirror via Yahoo News· 1 day agoPinal County Democrats Chair Lisa Sanor is asking the Internal Revenue Service to investigate a...