Check out our summary of significant Internal Revenue Service (IRS) guidance and relevant tax matters for the week of September 4, 2023 – September 8, 2023. ...more
Check out our summary of significant Internal Revenue Service (IRS) guidance and relevant tax matters for August 21, 2023 – September 1, 2023....more
9/6/2023
/ Digital Assets ,
Florida ,
Income Taxes ,
Inflation Reduction Act (IRA) ,
Natural Disasters ,
Student Loans ,
Tax Credits ,
Tax Deductions ,
Tax Reform ,
Tax Refunds ,
Tax Relief
Check out our summary of significant Internal Revenue Service (IRS) guidance and relevant tax matters for the week of August 14, 2023 – August 18, 2023...more
8/23/2023
/ Cryptocurrency ,
Income Taxes ,
Inflation Reduction Act (IRA) ,
IRS ,
Proposed Regulation ,
Revenue Rulings ,
Tax Credits ,
Tax Deductions ,
Tax Exempt Entities ,
Tax Planning ,
Tax Reform ,
Tax Returns
Check out our summary of significant Internal Revenue Service (IRS) guidance and relevant tax matters for the week of August 7, 2023 – August 11, 2023....more
8/15/2023
/ Affordable Care Act ,
Contractors ,
ESOP ,
Income Taxes ,
Internal Revenue Code (IRC) ,
IRS ,
Solar Energy ,
Stock Ownership ,
Tax Credits ,
Tax Reform ,
Wind Power
Check out our summary of significant Internal Revenue Service (IRS) guidance and relevant tax matters for the week of July 31, 2023 – August 4, 2023....more
Check out our summary of significant Internal Revenue Service (IRS) guidance and relevant tax matters for the week of July 24, 2023 – July 28, 2023.
July 24, 2023: The IRS released Internal Revenue Bulletin 2023-30,...more
8/2/2023
/ Health Insurance ,
Income Taxes ,
Internal Revenue Code (IRC) ,
IRS ,
Required Minimum Distributions ,
Retirement Plan ,
Revenue Procedures ,
Tax Deductions ,
Tax Exemptions ,
Tax Planning ,
Tax Reform ,
Tax Refunds ,
Tax Returns
There has been a growing trend of US taxpayers contributing non-cash assets, such as appreciated property, securities and cryptocurrency, into Maltese pension plans since the US-Malta Tax Treaty went into effect in 2011....more
Check out our summary of significant Internal Revenue Service (IRS) guidance and relevant tax matters for the week of July 17, 2023 – July 21, 2023....more
On June 1, 2023, in United States v. Liberty Global, Inc.[1], the US District Court for the District of Colorado held that the US Department of Justice (DOJ) can assert and seek judgment for federal income tax deficiencies...more
Over the years, case law has developed around when a mail delivery method is acceptable to prove that a tax filing was made.
The US Court of Appeals for the Fourth Circuit’s recent decision in Pond v. United States[1] ...more
The Internal Revenue Service (IRS) recently announced that it will hire 470 new revenue agents into the Small Business Self Employed (SB/SE) division. This effort is part of a larger IRS staffing initiative, following a...more
Several years ago, it came to light that the Internal Revenue Service (IRS) had hired a law firm to assist with transfer pricing matters in an ongoing audit of a large corporate taxpayer. Contemporaneous with that hiring, the...more
Each year, the Internal Revenue Service (IRS) publishes a list of tax-related scams, which it calls the “Dirty Dozen.” This year, it provided a “Dirty Dozen” scam series warning taxpayers of such scams....more
Loans under the Payroll Protection Program (PPP) are eligible for forgiveness depending upon whether and when the loan proceeds are used for qualified business expenses. One of the benefits of this program is that there is no...more
The Internal Revenue Service (IRS) had broad examination authority to determine the correct amount of tax owed by taxpayers. In addition to seeking information directly from a taxpayer, the IRS is also authorized to seek...more
The 2017 Tax Act added a separate foreign tax credit limitation category, or basket, for income earned in a foreign branch. As a result, certain US groups may be limited in their ability to use foreign income taxes paid or...more