Newsletters

President Biden Signs Inflation Reduction Act Into Law

President Biden, on August 16, 2022, signed the Inflation Reduction Act ( P.L. 117-169) into law following its passage along party […]

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CHIPS and Science Act Becomes Law

President Biden signed the CHIPS and Science Act into law after it received bipartisan support in both the House of […]

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Yellen Seeks Plan From IRS Regarding New Funds

Department of the Treasury Secretary Janet Yellen is seeking a detailed plan from the Internal Revenue Service on how it […]

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National Tax Advocate Appeals to IRS Commish on Scanning Paper Returns

National Taxpayer Advocate Erin Collins has taken an “unusual step” to appeal an Internal Revenue Service Deputy Commissioners’ decision directly to Commissioner […]

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Tax Professionals Warned of Evolving Identity Theft Scams, IR-2022-143

The IRS and the Security Summit partners have warned tax professionals to beware of evolving identity theft scams perpetrated through […]

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Retirement Amendment Deadlines Extended to Reflect SECURE Act, Miners Act, and CARES Act, Notice 2022-33

The IRS has extended the deadlines for amending a retirement plan or individual retirement arrangement (IRA) to reflect certain provisions […]

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Final Regulations Remove Code Sec. 754 Election Signature Requirement, TD 9963

The Treasury and IRS have issued final regulations eliminating the signature requirement for making a Code Sec. 754 election (section 754 election). […]

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AICPA Concerned Over IRS Practitioner Priority Service Line Problems

The American Institute of CPAs highlighted several challenges that tax practitioners are experiencing with the use of the Internal Revenue […]

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IRS Highlights New Business Tax Account Features, FS-2024-27

The IRS announced that it is continuing to expand the features within Business Tax Account (BTA), an online self-service tool […]

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IRS Highlights New Business Tax Account Features, FS-2024-27

Guidance Issued on Retirement Plan Employer Matching Contributions Made for Student Loan Payments, Notice-2024-63; IR-2024-217

The IRS has issued a series of questions and answers for 401(k) and similar retirement plans that provide, or wish […]

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Guidance Issued on Retirement Plan Employer Matching Contributions Made for Student Loan Payments, Notice-2024-63; IR-2024-217

IRS WBO Celebrates Contributions Leading to $7 Billion Recovery , IR-2024-199

The IRS Whistleblower Office has recognized the contributions of whistleblowers on the occasion of National Whistleblower Appreciation Day, which falls on July […]

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IRS WBO Celebrates Contributions Leading to $7 Billion Recovery , IR-2024-199

FL - Correction: interest rates for second half of 2024 announced

The floating interest rate applicable to taxes administered by the Florida Department of Revenue on underpayments (deficiencies) and late payments […]

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FL - Correction: interest rates for second half of 2024 announced

Taxpayers Reminded That Day Camp Expenses May Qualify for Child and Dependent Care Credit, IR-2024-216

The IRS has issued a reminder that summer day camp expenses may be eligible for the Child and Dependent Care tax […]

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Taxpayers Reminded That Day Camp Expenses May Qualify for Child and Dependent Care Credit, IR-2024-216

IRS Updates FAQs on Commercial Clean Vehicle Credits, FS-2024-26; IR-2024-197

The IRS has updated frequently asked questions (FAQs) to provide guidance related to the critical mineral and battery component requirements […]

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IRS Updates FAQs on Commercial Clean Vehicle Credits, FS-2024-26; IR-2024-197

IRS Issues FAQs About Social Media Scams, FS-2024-24

The IRS has warned taxpayers not to fall for scams centered around the Fuel Tax Credit, the Sick and Family […]

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IRS Issues FAQs About Social Media Scams, FS-2024-24

IRS Issues Warning on Clean Energy Tax Credit Scam, IR-2024-182

The IRS has issued a cautionary alert to taxpayers about a new scam exploiting clean energy tax credits. This emerging […]

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IRS Issues Warning on Clean Energy Tax Credit Scam, IR-2024-182

Code Sec. 280E Not Applicable to Marijuana, IR-2024-177

The IRS reminded taxpayers that marijuana will remains a Schedule I controlled substance till a federal rule is published. Businesses […]

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Code Sec. 280E Not Applicable to Marijuana, IR-2024-177

FL - Guidance issued on affidavit required to claim exemption for boats sold to nonresident purchasers

Guidance is issued regarding changes that have been made to the affidavit required to claim the sales tax exemption for […]

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FL - Guidance issued on affidavit required to claim exemption for boats sold to nonresident purchasers