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Inflation Reduction Act Domestic Content Bonus Update: IRS Issues Updated Guidance with New Elective...
The National Law Review· 1 day agoOn May 16, 2024, the IRS released Notice 2024-41 (the “Notice”), modifying its preliminary guidance...
IRS PLR: Extension Request to Change Accounting Period Denied (IRC §442)
Bloomberg Law· 1 day agoThe IRS has published a private letter ruling on Section 442 and Treasury Regulation Section 301.9100 regarding the extension of time to request a change in the applicable accounting period. ...
IRS Warns Taxpayers They May Be Scam Victims If They...Big Refunds; Misleading Advice Leads to False...
Sierra Sun Times· 6 days agoWASHINGTON — The Internal Revenue Service issued a consumer alert on Tuesday following ongoing concerns about a series of tax scams and inaccurate social media advice that ...
IRS warns thousands of taxpayers could face criminal prosecution for filing false returns
FOX Business· 7 days agoThe IRS warned on Tuesday that thousands of taxpayers could face criminal prosecution if they filed...
Bethlehem owner of Domino’s Pizza shops gets prison for failing to pay $2.5M in taxes
The Express-Times· 5 hours agoAmmar Jali owned 36 franchises in Pennsylvania and Ohio, according to the release from the U.S....
Proposed Regulations Issued on the Excise Tax on Repurchases of Corporate Stock | JD Supra
JD Supra· 12 hours agoSection 4501 generally imposes a nondeductible 1% excise tax (the “Tax”) on stock repurchases[2] and “economically similar transactions” (discussed further ...
Advocates for IRS whistleblowers accuse Special Counsel Weiss of retaliation, misleading: ‘Smear...
Fox News· 1 day agoLawyers for two IRS whistleblowers who informed Congress about the Hunter Biden criminal probe are...
6 Cities With the Highest Property Taxes and What You Can Do To Offset the Cost
GOBankingRates via Yahoo Finance· 5 hours agoYou might be a resident of a city with some of the highest property taxes in the United States. An...
Tax breaks after 50 you might not know about
AOL· 4 days agoHere’s additional 2024 standard deductions for those over 65 showing the IRS’s tax inflation adjustments: Joint filers and surviving spouses can deduct...
Senior Center Stops IRS Bid to Resurrect $20 Million Adjustment
Bloomberg Law· 1 day agoThe IRS can’t adjust a California senior care facility’s income upward by $20 million, because the center’s entrance fee reports accurately reflect income, the Ninth Circuit said Monday.