Advertisement
TOPICS

Congress enacts tax and climate bill

With Senate amendments approved by the House on Friday, the budget reconciliation bill now known as the Inflation Reduction Act will go to the president for his signature.

Line items

Tax update: S elections, PTE, and Sec. 1202 (podcast) … Senate Finance airs post-Wayfair sales tax burdens … Midyear IRS mileage rate increase follows precedent, recent pleas … Senators request details on IRS info return destruction … IRS voice bots help set up payment plans

IRS seeks transformation in new 5-year plan

The IRS’s fiscal 2022–26 Strategic Plan sets out goals to modernize its operations and interactions with taxpayers while adapting to new challenges and threats.

AICPA recommends additional IRS backlog measures

Looking ahead to next filing season, the AICPA renews previous calls for taxpayer relief and administrative remedies to help the IRS clear overages in its return and correspondence inventories.

SPONSORED REPORT

Preparing clients for new provisions next tax season

As the 2025 filing season approaches, H.R. 1 introduces significant tax reforms that CPAs must be prepared to navigate. These legislative changes represent some of the most comprehensive tax updates in recent years, affecting both individual and corporate taxpayers. This report provides in-depth analysis and guidance on H.R. 1.