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Supreme Court: Insurance proceeds increase corporation’s estate tax value
In a unanimous decision, the U.S. Supreme Court held that life insurance proceeds a corporation receives to fund a share redemption agreement increase the corporation’s estate tax value.
9 months into ERC claim processing moratorium, still a waiting game
The continuing pause in processing new employee retention credit claims adds to a preexisting backlog, with some claimants reportedly seeking a refund 18 months after filing.
National taxpayer advocate: TikTok a difficult adversary for IRS
Speaking at AICPA & CIMA ENGAGE, Erin Collins asks: How does the IRS fight bad tax advice on TikTok when employees are not supposed to access it?
Expert warns: IRS has what it needs to pursue more audits
A speaker at AICPA & CIMA ENGAGE tells attendees that the IRS is paying higher salaries to attract midcareer workers as the agency increases audits.
Bias possible in IRS program for auditing refundable credit returns
The IRS said it agrees with the six recommendations from the U.S. Government Accountability Office to eliminate the potential bias.
AICPA makes recommendations to IRS on next Priority Guidance Plan
Topics recommended include the corporate alternative minimum tax, group tax exemption letters, and the cap on deductibility of state and local taxes.
