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IRS reminder: Time to claim $1 billion in tax refunds from 2020 expires on May 17
CNBC· 4 hours agoThere is $1 billion in unclaimed 2020 tax refunds up for grabs — but the last chance to file returns...
IRS evaluating future of free pilot program that helped over 4,000 Nevadans file taxes
KTNV Las Vegas· 6 days agoShortly after that, the IRS looked at ways to create a direct e-filing option. The program was...
IRS Rules Utility's NOL Carryforward Cannot Be Reduced by Tax Allocation Payments | JD Supra
JD Supra· 17 hours agoThe IRS ruled that the normalization rules precluded the reduction of the NOLC by reason of the TAA payments. Because the regulatory authority required the reduction of the ...
D.C. Court of Appeals Strengthens IRS’ Ability to Collect Penalties for Not Reporting Foreign...
JD Supra· 2 days agoThe United States Court of Appeals for the D.C. Circuit issued a ruling overturning a Tax Court decision that had created doubt as to the manner in which the IRS may collect ...
This is the 'sweet spot' for Roth individual retirement account conversions, expert says
CNBC· 12 hours agoIf you're weighing a Roth individual retirement account conversion, you could save on taxes by...
Weekly IRS Roundup April 29 – May 3, 2024
The National Law Review· 2 days agoCheck out our summary of significant Internal Revenue Service (IRS) guidance and relevant tax matters for the week of April 29, 2024 – May 3, 2024. April...
Conquering Tax Season: How Technology can Streamline Filing and Return Delivery in 2024
International Accounting Bulletin via Yahoo Finance· 1 day agoWith more than 46,000 CPA firms in the U.S. facing another season of tight deadlines, grappling with...
Tax990 Simplifies 990-PF Filling For Private Foundations
Digital Journal· 3 days agoROCK HILL, SC / ACCESSWIRE / May 6, 2024 / As the May 15, 2024 deadline for filing 990 series tax returns approaches, nonprofit organizations operating on a calendar tax year across the nation ...
With $15 Million At Stake, IRS Argues For Foreign Grantor Trust Status
Forbes· 3 days agoForeign trusts routinely cause U.S. reporting headaches for taxpayers. Generally, tax professionals...
IRS Issues Final Regulations on Tax Credit Transfers | JD Supra
JD Supra· 7 days agoTreasury and the IRS confirmed that, if a partnership has not elected direct pay for credits pursuant to Sections 45V, 45Q, or 45X, it may qualify as an eligible taxpayer ...