IRS releases 2024 retirement plan limitations
Cost-of-living adjustments to retirement plan limits for 2024 have been issued by the IRS in Notice 2023-75.
New York decision sheds light on broker-dealer and financial service industry
Decision addressing corporate sourcing rules to brokerage commissions and certain financial receipts provides insight under proposed regulations.
IRS updates e-signature policy and releases online accounts for sole proprietors
The IRS makes permanent e-signature guidance generated in response to COVID pandemic and launches online business tax account for sole proprietors.
What to do if you filed an employee retention credit claim with the IRS
ERC submissions are under scrutiny by the IRS due to a surge in questionable claims. Are you confident your claim meets the eligibility ...
IRS halts employee retention credit processing
The IRS has temporarily halted processing of employee retention credit claims and will provide additional guidance for businesses.
Proposed regulations for digital assets are here! Now what?
Proposed regulations for digital asset reporting under section 6045 will require brokers to report sales and exchanges of digital assets to the IRS.
IRS releases guidance on Roth catch-up contributions under SECURE 2.0
Notice 2023-62 provides an administrative transition period for Roth catch-up contributions to high-income individuals.
IRS issues proposed regs for monetized installment sales
The IRS issued proposed regulations designating certain monetized installment sale transactions as listed transactions requiring additional scrutiny
Temporary relief granted for the foreign tax credit
Notice 2023-55 provides taxpayers temporary relief from new foreign tax credit rules
IRS rules on treatment of cryptocurrency validation rewards
In a recent revenue ruling, the IRS stated that blockchain validation awards such as digital coins created by a computer algorithm are gross ...
IRS provides guidance for required minimum distributions for SECURE 2.0 Act
Notice 2023-54 provides transition relief and guidance relating to certain required minimum distributions based on SECURE 2.0 changes.
Tax Court once again denies related party bad debt deduction
Proper documentation of related party cash advances is imperative if a taxpayer intends to substantiate the advances as debt for tax purposes.
Energy communities bonus credit guidance
Updated guidance on the energy community bonus credit offers clarity on brownfield site safe harbor requirements and prior online modification.
Second notice for 48C program begins credit application process
IRS provides additional guidance on the application process for qualifying advanced energy project credit program under the Inflation Reduction Act.
New guidance from IRS on correction of errors in qualified retirement plans
The IRS released Notice 2023-43 to provide interim guidance on plan correction changes under SECURE 2.0 until Rev. Proc. 2021-30 (EPCRS) is updated.
Top Professionals Ready To Serve You
The FMF&E team prides itself on ensuring that you have quick and easy access to top professionals for any challenge. Our unique model gives our clients confidence that our experienced team can be trusted with your most complex challenges.