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The United States Internal Revenue Service is a bureau of the United States Department of the Treasury. The IRS is charged with collecting revenue and enforcing the Internal Revenue Code.  
BakerHostetler

Analysis of the 2025 Federal Tax Changes Under the “One Big Beautiful Bill” Legislation

BakerHostetler on

The race to remake portions of the Internal Revenue Code (Code) and to prevent expiration of certain Tax Cuts and Jobs Act (TCJA) provisions reached completion with Legislation signed by President Trump on July 4, 2025....more

Wilson Sonsini Goodrich & Rosati

President Trump Revokes Regulations Applicable for Front-End Service Providers Facilitating Digital Asset and Cryptocurrency...

On April 10, 2025, President Trump signed into law a measure1 that repeals the final regulations relating primarily to persons who are front-end service providers that operate decentralized finance (DeFi) platforms, which...more

Goodwin

2025 Budget Resolution Update: Tax Implications

Goodwin on

On February 13, the House Budget Committee, voting 21-16 along party lines (Republicans in favor and Democrats opposed), passed a 2025 budget resolution. The bill does not expressly reference the Tax Cuts and Jobs Act of 2017...more

Brooks Pierce

Mandatory COVID Leave Expires, but Tax Credits for Providing COVID Leave are Extended

Brooks Pierce on

Starting Jan. 1, 2021, employers subject to the Families First Coronavirus Response Act (FFCRA) are no longer required to provide employees with COVID-related paid leave, but they may do so in some situations and still...more

Laner Muchin, Ltd.

IRS Issues Guidance on President Trump’s Payroll Tax Deferral Executive Order

Laner Muchin, Ltd. on

On August 8, 2020, President Trump issued an Executive Order to the Secretary of Treasury directing the Department to defer the obligation of employers to withhold, deposit, and pay the employee share of Social Security...more

Hinshaw & Culbertson LLP

IRS Issues Guidance on Presidential Memorandum Payroll Tax Deferral Opportunity

President Trump issued a Presidential Memorandum on August 8, 2020, directing the U.S. Secretary of the Treasury to use his authority to defer the "withholding, deposit and payment of certain tax obligations." This includes...more

Sheppard Mullin Richter & Hampton LLP

To Defer or Not Defer? IRS Issues Guidance Temporarily Delaying the Collection of Social Security Taxes

Most employers are expected to pass on the IRS’ offer to temporarily delay collecting Social Security taxes. For background, both employers and employees are generally required to pay a Social Security tax at a flat rate of...more

Williams Mullen

IRS Issues Guidance for Payroll Tax Deferral

Williams Mullen on

President Donald Trump issued an Executive Order on August 8, 2020 allowing employers to defer withholding, depositing, and paying certain payroll tax obligations for their employees. On August 28, 2020, the Department of...more

Perkins Coie

Summary Of Notice 2020-65: Deferral Of Employee’s Portion Of Social Security Taxes

Perkins Coie on

In response to the ongoing coronavirus (COVID-19) pandemic, the U.S. Congress, the executive branch, and the Internal Revenue Service (IRS) have taken several actions intended to provide immediate relief to taxpayers. In...more

K&L Gates LLP

COVID-19: IRS Releases Guidance on Employee Payroll Tax Deferral but Fails to Quell Concerns Over Implementation and Collection of...

K&L Gates LLP on

On 28 August 2020, the IRS issued eagerly awaited guidance on the implementation of the employee FICA payroll deferral authorized in a Presidential Memorandum (the Memorandum) signed by President Trump on 8 August 2020....more

Eversheds Sutherland (US) LLP

IRS gets to the point in brief payroll tax deferral guidance

On August 28, the IRS issued Notice 2020-65 on the deferral of employee payroll tax obligations, as originally described in the Trump Administration’s Executive Memorandum dated August 8. The brief guidance provides employers...more

Lowenstein Sandler LLP

IRS Issues Guidance To Implement Deferral Of Employee Social Security Taxes Through December 31, 2020

Lowenstein Sandler LLP on

On August 8, President Trump issued a Memorandum directing the Treasury Department to permit employers to defer the withholding of employees’ social security and railroad retirement taxes through December 31, 2020. On August...more

Jackson Lewis P.C.

IRS Notice On Presidential Order Deferring Payroll Tax Obligations Creates Additional Uncertainty

Jackson Lewis P.C. on

The Internal Revenue Service has issued Notice 2020-65 to provide guidance on the employment tax deferral that is the subject of President Donald Trump’s August 8, 2020, Memorandum on Deferring Payroll Tax Obligations in...more

Kelley Drye & Warren LLP

Employers Face Risks If They Reduce FICA Tax Withholding as a Result of the President’s Executive Order

On August 8, 2020, President Donald Trump signed an executive order directing the U.S. Treasury Department to defer the withholding, deposit, and payment of certain employment taxes that would otherwise be withheld and...more

Stinson LLP

New IRS Guidance and CARES Act Provide Employers with Additional Information about Tax Credits for Paid Leave

Stinson LLP on

The Internal Revenue Service (IRS) released eagerly anticipated guidance on Friday, March 27, 2020, aimed at employers wishing to take advantage of the tax credits for providing employees with paid sick leave and paid family...more

Brownstein Hyatt Farber Schreck

Taxation & Representation - February 2020

TAX TIDBIT - New National Taxpayer Advocate. The Internal Revenue Service (IRS) announced that a new National Taxpayer Advocate will likely be in place by April. According to an internal memo sent by IRS Commissioner...more

Clark Hill PLC

Window On Washington - Vol. 4, Issue 3

Clark Hill PLC on

Outlook for This Week in the Nation’s Capital - Congress. The House is in recess this week and the Senate will begin the impeachment trial later this afternoon. ...more

Ballard Spahr LLP

A Little Extra: IRS Ups ACA Reporting Relief

Ballard Spahr LLP on

Once again, the IRS has extended the deadline for furnishing Forms 1095-B and 1095-C to individuals. Reporting penalties will not apply to those who meet the applicable deadlines and complete the forms in good faith....more

Brownstein Hyatt Farber Schreck

Taxation & Representation - June 2019 #3

TAX TIDBIT - Five Takeaways and a Falsehood: Test Your Knowledge of the Ways and Means Tax Markup - On Thursday, the House Ways and Means Committee marked up and approved the following four bills, largely along...more

Clark Hill PLC

Window On Washington - Vol. 3, Issue 27

Clark Hill PLC on

Outlook for This Week in the Nation's Capital - Congress. The House and Senate stand in recess during the week of July 4th, and will return to action the following week....more

Clark Hill PLC

Window On Washington - Vol. 3, Issue 25

Clark Hill PLC on

Outlook for This Week in the Nation's Capital - Congress: Despite attacking President Donald Trump last week for undertaking “criminal conduct,” Speaker Nancy Pelosi also said the House is still a long ways from any...more

Clark Hill PLC

Window On Washington - Vol. 3, Issue 18

Clark Hill PLC on

Outlook for This Week in the Nation's Capital - Congress: Congress returns from a two week long recess, and the Majority Leader Hoyer has already announced that the House will vote on at least three of Democrats’ top...more

Clark Hill PLC

Window On Washington - Vol. 3, Issue 14

Clark Hill PLC on

Outlook for This Week in the Nation's Capital - Congress. The House this week will continue to ramp up oversight on the Trump Administration, with the Government Reform Committee issuing subpoenas for several Administration...more

Clark Hill PLC

Window On Washington - Vol. 2, Issue 42

Clark Hill PLC on

Outlook for This Week in the Nation's Capital - Recess. The House and Senate remain in recess. However, the Senate Judiciary Committee held a hearing last week to consider judicial nominations and plans to hold another next...more

Clark Hill PLC

Window On Washington - Vol. 2, Issue 40

Clark Hill PLC on

Outlook for This Week in the Nation's Capital - Fall Agenda. With the Kavanaugh confirmation completed, Senate Republicans want to quickly begin confirming additional circuit court nominees....more

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