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Guidance provided for electronic filing exemptions and waivers
In a notice, the IRS explained how to request religious exemptions, hardship waivers, and other administrative exceptions from electronic filing requirements.
Location of millions of tax records uncertain, TIGTA says in IRS critique
More than 8,500 IRS microfilm cartridges containing records of millions of individual and business taxpayers are missing and unaccounted for, the Treasury Inspector General for Tax Administration revealed in a report.
Update on states moving ahead with PTETs
The AICPA State and Local Tax Technical Resource Panel surveys state laws adopting and implementing passthrough entity taxes, which can provide a workaround to the temporary $10,000 cap on the federal deduction of state and local taxes.
IRS issues guidance on requirements for home energy audits
Notice 2023-59 addresses the Sec. 25C energy efficient home improvement credit, which can equal 30% of amounts taxpayers pay or incur during a tax year for qualified energy efficiency residential improvements, residential energy property expenditures, and home energy audits.
Proposed regulations update, revise consolidated return regulations
The revisions reflect legislation enacted in the past 50 years, removing regulatory deadwood and excising or updating obsolete terms and references.
