TAX NEWS
- The IRS had mixed success in its first efforts to find employers who evade taxes, doing better in its criminal pursuit than on the civil side, the Treasury Inspector General for Tax Administration said in a recent report.
- The FAQs from Treasury’s Financial Crimes Enforcement Network said access to beneficial ownership information will be phased in, beginning this spring with a pilot program for some federal agency users and concluding in spring 2025, when financial institutions with customer due-diligence requirements will be able to review BOI.
- IRS commissioner Danny Werfel told the Senate Finance Committee that a tax bill passed by the House in January would help the IRS combat fraud in employee retention credit claims.
- In light of the continuing challenges taxpayers are facing with the corporate alternative minimum tax, the IRS granted a waiver of the addition to tax for failure to pay estimated corporate AMT “in the interest of sound tax administration.”
- The IRS winds up its annual list of 12 scams and schemes by covering two broad categories: bogus tax-avoidance strategies and schemes with an international element.
- Two sets of proposed regulations issued by the IRS provide guidance on the implementation of the new excise tax and on rules for the procedure and administration applicable to the reporting and payment of the tax.
- The IRS said it will not include the rebates provided under the Inflation Reduction Act of 2022 in individual purchasers’ gross income or in the cost basis of the property purchased.
- In a letter to the Treasury secretary and the FinCEN director, the AICPA called for enforcement of beneficial ownership information reporting regulations to be suspended until after lawsuits are settled.
- This term, the Supreme Court will answer the questions regarding the estate tax treatment of life insurance proceeds received by a closely held business and its shareholder redemption obligations. It heard oral arguments last week.
- The IRS opened its annual Dirty Dozen list with scams that trick recipients into clicking a suspicious link, filling out personal and financial information, or downloading malware onto their computer.
RSS Error: A feed could not be found at `https://www.jklasser.com/feed/tax-news/`; the status code is `200` and content-type is `text/html; charset=UTF-8`
- Wallbox (NYSE: WBX), a leading provider of electric vehicle (EV) charging solutions, today announced that it has been allocated a $5.2 million tax credit under the highly competitive 48C Qualifying …
- If you're missing a tax refund from the 2021 filing season, you have under a month left to claim your money from the IRS.
- After Congress approved billions of extra funding for tax compliance, the Internal Revenue Service pledged it would get tougher on rich taxpayers …
- DA. The form is the next step in efforts to bolster crypto tax reporting and follows proposed regulations published last year.
- The Kwara State Internal Revenue Service (KW-IRS) has announced the commencement of the 2024 edition of the Annual Tax Quiz Competition.
- The Kwara State Internal Revenue Service (KW-IRS) has announced the commencement of the 2024 edition of the Annual Tax Quiz Competition.
- On April 16, 2024, the IRS issued Fact Sheet 2024-13, which includes FAQs addressing the tax treatment of employer-provided work-life referral services. The FAQs generally provide that the value of …
- A new draft tax form by the Internal Revenue Service (IRS) is proposing tracking specific crypto transactions. The Digital Asset Proceeds From Broker Transactions draft indicates that taxpayers must …
- The IRS has introduced a draft of the 1099-DA tax form, a new document for reporting cryptocurrency transactions. Set to impact brokers and investors, this form will track gains and losses in digital …
- If 50,000 New Yorkers don’t act quickly, they will lose $61 million — or a median potential $1,029 — in refunds for 2020 from the Internal Revenue Service.