IRS proposes guidelines to clarify access to Independent Office of Appeals.
Section 7803(e) provides taxpayers a general right to the IRS Independent Office of Appeals. IRS proposed regulations contain a list of 24 types ...
Tax treatment of SAFE instruments is not a lock
SAFEs are a newer means of raising capital. Companies and their investors should consider the effects of a SAFE’s tax treatment.
The new corporate minimum tax: overview and highlights
The Inflation Reduction Act of 2022 imposed a new 15% alternative minimum tax on large corporations. Notably, the tax is based on a ...
IRS issues guidance on transition rules for EV credits
IRS guidance helps taxpayers navigate the transition from existing rules for claiming EV credits to new rules enacted by the IRA including ways ...
New tax on publicly traded corporations that repurchase their stock
The Inflation Reduction Act, passed by Congress, contains a new 1% tax on stock redemptions by certain corporations. In what situations does the ...
Inflation Reduction Act: What $80 billion in IRS funding means for taxpayers
The Inflation Reduction Act of 2022 provides significant funding for the IRS over the next 10 years. The IRS is expected to use over half the ...
CHIPS Act of 2022: Tax incentives for semiconductor manufacturers
The CHIPS Act of 2022 funds grants and a new federal income tax credit to facilitate domestic manufacture of semiconductors.
Late filing penalties may apply when e-file mandate not met
IRS non-precedential guidance clarifies that penalties for late filing may apply to certain returns that are paper-filed if electronic filing ...
Tax planning as interest rates climb and interest expense deductions decrease
Tax planning strategies can help businesses experiencing higher interest expense due to inflation, increased interest rates and lower tax deductions.
States begin to consider digital asset taxation as sessions end
A number of states begin to consider or take steps related to the state taxation of digital assets as the economy for these assets continues to grow.
Supreme Court sweeps away a long-standing rule in tax collection due process practice
U.S. Supreme Court decision changes long-standing rule in tax collection due process cases to benefit taxpayers.
Treasury report highlights FATCA failures
Treasury Inspector General for Tax Administration (TIGTA) report points out failure of IRS to meet FATCA reporting and compliance goals.
Executive Order provides path to regulation of digital assets
Executive Order provides an outline for next steps related to guidance and regulation in the digital asset space.
IRS releases new guidance on R&D credit refund claim procedure
The IRS released a memorandum and FAQs to provide procedural guidance regarding R&D credit refund claims on amended tax returns.
Smile! New IRS identity verification process requires a selfie
The IRS is tackling identity theft by using ID.me verification technology to guard access to online services.
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