The Internal Revenue Service (IRS) makes updates to common tax provisions and procedures for various reasons. One annual change is to ensure that certain parts of the tax code keep up with inflation. And, aside from new laws, there are other adjustments and tax process changes to be aware ...
We anticipate that the IRS will issue additional guidance shortly, and we will keep you posted as updates become available. ByLinkenheimer LLP|December 18th, 2024|disaster,Fire Relief Info,New Tax Laws,News|0 Comments Read More Nationwide Injunction Halts Beneficial Ownership Information Reporting Req...
Taxpayers, IRS befuddled by new tax laws; Ombudsman highlights some problems likely to confound someASSOCIATED PRESS
The only new tax laws were those passed by the previous administration to lower taxes on the wealthy and corporations while continuing the really big lie, propagated by leaders of both political parties, that somehow capital trickles down when in fact in only percolates upwards. Your hated of B...
overtime rules. The IRS has new W-4 forms owners will need to get used to. Plastic bags are on their way out at stores and other businesses in a growing number of places around the country. And California has new laws on freelancers and consumer privacy that can affect out-of-state ...
While there is still a ton of haziness surrounding the new tax rules, and we are waiting for the IRS to opine on some them, there are there are a bunch of things that affect small businesses. So there's good news and bad news. First -- the bad news. -The business meals and...
Fox Business Network's Gerri Willis, host of "The Willis Report," appeared today on "Good Morning America" to explain important changes in the tax laws. Q: The IRS processing delay will impact about 9 million filers. Just who will be affected? A: Willis said that anyone who has a simpl...
As noted above, it appears that existing law does not require a REIT to look through a domestic C corporation to its shareholders in determining whether the REIT is domestically controlled. In a reversal of this position — the position taken by the IRS in a prior private ruling — the new...
Second, the proposed regulations rely on the rationale that the accrual-based 1374 approach is simpler to apply. In particular, Treasury and the IRS state that the 338 approach is complicated by various changes made by the Tax Cuts and Jobs Act (TCJA). For example, the application of additio...
The IRS is authorized to review and challenge the self-assessed tax liability, and through administrative and judicial proceedings, the taxpayer may ultimately be found to be liable for a deficiency – the difference between the correct tax due and the amount of tax shown on the return. The ...