TAX NEWS
- The AICPA endorsed four of the six bills, all of which passed with bipartisan support and were forwarded to the Senate.
- The FAQs, which deal mainly with how to handle the employee retention credit on tax returns under various scenarios, are not authoritative but do provide some answers to questions about the expiration of the statute of limitation, an AICPA & CIMA tax practice and ethics manager said.
- In a brief filed in the Eleventh Circuit, the federal government said the move to remove the beneficial ownership filing requirement for domestic companies does not affect the constitutionality of the Corporate Transparency Act.
- The AICPA submitted comments to Treasury and the IRS with recommended changes to proposed regulations for automatic enrollment requirements for most newly established 401(k) and 403(b) plans under the SECURE 2.0 Act.
- The Trump administration has rejected the OECD’s initiative to reform the taxation of multinational enterprises. Learn more about the executive action in this Q&A with an international tax expert.
- A Bloomberg Tax survey found that more than 4 in 5 respondents are moderately to very worried about the potential sunset of the Tax Cuts and Jobs Act, which expires at the end of 2025.
- FinCEN issued an interim final rule Friday removing the requirement for U.S. companies and U.S. persons to report beneficial ownership information under the Corporate Transparency Act.
- An email from the acting IRS commissioner, citing a federal court order, says certain probationary employees will receive salaries, back pay, and benefits but are “not [to] report to duty or perform any work until receiving further guidance.”
- In a letter to congressional finance leaders, the AICPA listed increasing the threshold to $10,000 as one of its priorities.
- Acting IRS commissioner says the agency will use “existing appropriations” to remain open if Congress does not agree to a continuing resolution by the end of Friday.
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- After a court ordered the Internal Revenue Service to rehire some 7,000 probationary workers, the employees were put on administrative leave, kept on the federal payroll, but not back at work. Now …
- The IRS and other government agencies have some leverage over the amount of your tax refund — but you also have some power over it that you might not be aware of.
- The Trump administration is cutting hundreds of thousands of federal jobs, with a goal of saving money. At the IRS, however, the cuts may actually cost money. Imagine the …
- A notice to probationary employees — fired in February and reinstated in March — directed workers at the US tax collector to prepare to return to “full duty” by April 14 — one day before the country’s …
- Facing overdue taxes can be daunting, but the IRS offers solutions to ease the burden. Understanding the deadlines, penalties, and available payment options is crucial.
- Remember all those workers at the Internal Revenue Service who got fired back in February? Now the agency says it is bringing them back to active duty just in time for tax day.That means more people …
- As April begins, many Americans eagerly await their IRS tax refunds. If you filed your return in February, you might be among those receiving their refunds in the coming days.
- While the regular tax filing deadline is April 15, those living and working outside the U.S. receive a two-month extension and can file by June 16.
- There were concerns that the IRS employee layoffs earlier this year would impact the rate at which refunds could be processed.
- Taxpayers filing in April may see IRS refunds soon. Here’s who qualifies, when to expect payment, and how a new executive order is changing.