Tax alert

IRS releases draft instructions to claim amended R&D credits

IRS releases draft instructions to claim amended R&D credits

IRS issues draft instructions for Form 6765 that formalizes the information required for claiming research credits on an amended tax return or ...
New York state senator proposes to repeal estate tax

New York state senator proposes to repeal estate tax

RSM’s state and local tax policy specialists weigh in on a proposal to eliminate New York’s estate tax.
Tax year 2022 brings more changes to international tax reporting

Tax year 2022 brings more changes to international tax reporting

Understand how the IRS is changing tax compliance for taxpayers with international activity for 2022.
IRS announces updated Reference Standard for section 179D

IRS announces updated Reference Standard for section 179D

New standards affirmed for energy efficient commercial buildings deductions, but old standards apply for several more years.
Key takeaways for employers under the SECURE 2.0 Act of 2022

Key takeaways for employers under the SECURE 2.0 Act of 2022

SECURE 2.0 Act significantly changes the tax rules governing qualified retirement plans and individual retirement accounts (IRAs).
New EU ‘Green Import Tariff’

New EU ‘Green Import Tariff’

EU Carbon Import Tariff & EU Carbon Import Tax.
Treasury and IRS release interim guidance on corporate minimum tax

Treasury and IRS release interim guidance on corporate minimum tax

Notice 2023-7 provides interim guidance on certain items related to the new corporate minimum tax in anticipation of forthcoming proposed regulations.
Treasury issues guidance for clean vehicle manufacturers and sellers

Treasury issues guidance for clean vehicle manufacturers and sellers

For manufacturers and sellers of clean vehicles to claim new tax incentives, they must follow procedures recently outlined by the Treasury Department.
Treasury releases much anticipated proposed FTC regulations

Treasury releases much anticipated proposed FTC regulations

Last Friday, Treasury released proposed foreign tax credit regulations aiming to clarify the cost recovery requirement and royalty withholding ...
Schedules K-2 and K-3 draft instructions for tax year 2022

Schedules K-2 and K-3 draft instructions for tax year 2022

Pass-through entities and partners alike should understand the compliance changes associated with the IRS's recent release of updated draft ...
New credit amounts for the Production Tax Credit for 2022

New credit amounts for the Production Tax Credit for 2022

IRS announces new tax credit amounts under section 45 of the Internal Revenue Code, for the calendar year 2022.
OECD issues final Crypto-Asset Reporting Framework – now what?

OECD issues final Crypto-Asset Reporting Framework – now what?

The OECD’s updated crypto-asset reporting framework and CRS amendments will streamline reporting and exchange of information on crypto-assets.
Treasury Priority Guidance Plan 2022-2023 – Exempt Organizations

Treasury Priority Guidance Plan 2022-2023 – Exempt Organizations

The Treasury Department and the IRS released the 2022-2023 Priority Guidance Plan, which contains a number of items affecting exempt organizations.
IRS makes statements on CARES Act Employee Retention Tax Credit risks

IRS makes statements on CARES Act Employee Retention Tax Credit risks

On Oct. 19, 2022 the IRS issued a news release warning employers to be wary of third parties who have ramped up campaigns to try and get ...
IRS releases required minimum distribution (RMD) guidance

IRS releases required minimum distribution (RMD) guidance

Notice 2022-53 announced the IRS’s intent to publish final regulations addressing required minimum distributions (RMDs) from certain plans.

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