Committee for a Responsible Federal Budget6h
IRS Estimates a $606 Billion Tax Gap for 2022
In its new report, the IRS estimates that: The gross tax gap was $708 billion for 2021 and $696 billion in 2022; after ...
Accounting Today5h
IRS starts up pass-through compliance unit
A field operations unit, announced last fall, has started work in the Internal Revenue Service's Large Business and ...
internationaltaxreview9h
Gibson Dunn enlisted for multi-billion Coca-Cola v IRS TP appeal
Coca-Cola ‘strongly believes’ the IRS and the Tax Court misinterpreted and misapplied the applicable regulations for its TP ...
Bay Area man out $6.5K after IRS check stolen, cashed by thief using Wells Fargo ATM
Despite an investigation proving Yates was the victim of a crime, Wells Fargo refused to reimburse him. 7 On Your Side ...
greenmarketreport19h
Accounting group pushes for clarity as questions around cannabis tax rules mount
The American Institute of CPAs sent the letter to the Treasury Department and IRS in response to earlier notices about 280E ...
JD Supra3h
Clarifying the federal tax classification of wholly owned tribal entities and the mechanics of the Section 6417 election for such entities
On October 7, 2024, the Department of Treasury (Treasury) and the Internal Revenue Service (IRS) issued proposed regulations (Proposed ...
JD Supra7h
CAMT Count Me Twice: Determining CAMT AFSI in Mergers and Acquisitions
On September 12, 2024, the Department of the Treasury (the “Treasury”) and the Internal Revenue Service (the “IRS”) issued long-awaited ...
ABC Columbia22h
IRS changes standard deduction for 2025
(CNN)– The Internal Revenue Service has announced some notable changes for tax year 2025. New tax brackets reflect an ...
JD Supra3h
Navigating Employee Retention Credit Denials and Delays
Employee retention credits (ERCs) have been a critical financial lifeline for businesses dealing with the effects of COVID-19. Designed to ...
MyChesCo on MSN10h
IRS Announces Reopening Plan for Reading Taxpayer Assistance Center
Representative Chrissy Houlahan (D-PA) has announced the Internal Revenue Service‘s (IRS) plan to fully reopen the Reading ...
Fairview mayor becomes campaign treasurer for board commissioner candidate
FOX 17 News sent an email to the city of Fairview questioning Mayor Lisa Anderson's role as a campaign treasurer for a board ...
KTVZ17h
Wyden, colleagues urge DOJ to prosecute tax prep companies for illegally sharing personal, financial taxpayer data
Senator Ron Wyden said Wednesday he has joined Senate and House colleagues to urge the Department of Justice to act against major tax preparation companies illegally sharing protected and sensitive ...