IRS Practice and Procedure
The new company's return with the old company's pro forma short-year return attached was sufficient to run the statute of limitation, the Tax Court finds.
The version of the tax reform bill passed by the Senate Finance Committee holds several more changes affecting both individuals and businesses.
The U.S. House of Representatives passed its tax reform bill, on a 227–205 vote.
The revised chairman’s mark of the Senate tax reform bill contains many significant changes to the proposed legislation.
From new tax rates to fewer deductions, credits, and exclusions, the tax reform bill released by the House would have wide-ranging effects on the taxation of individuals.
The Tax Cuts and Jobs Act released by the House Ways and Means Committee incorporates many of the provisions listed in the Republicans’ September tax reform framework while providing new details.
The news especially affects taxpayers in recent disaster areas who have received extensions until Jan. 31, 2018, to file their 2016 returns.
Beat the clock so clients don’t forfeit refunds or credits due from the IRS.
The IRS had planned to launch by the end of the month its updated Secure Access site, which will require using a two-factor authentication process.
President Donald Trump plans to name David Kautter as acting IRS commissioner when John Koskinen’s term expires in November.
The IRS issued the annual revenue procedure that updates the almost 60 tax provisions that must be adjusted for inflation each year
Treasury said it intended to withdraw the Sec. 2704 valuation discount regulations and portions of the Sec. 385 corporate inversion regulations.
IRS fashions relief from the joint filing requirement in the case of spousal abuse or abandonment and makes a technical correction in the limitation on repayment of excess advance credit by self-employed taxpayers.
The taxpayers' use of a newly created corporation was held to be a vehicle to avoid Roth IRA contribution limits.
Rules on corporate debt vs. equity and valuation of family-owned businesses are among those deemed subject to a presidential order.
Republican leadership released a tax reform framework that calls for fewer individual tax brackets, a lower corporate tax rate, and elimination of many tax deductions.
The IRS is introducing an 18-month pilot program under which it will once again issue letter rulings concerning the general income tax effects of stock distributions under Sec. 355.
Acting quickly in the wake of Hurricane Irma, the IRS gave filing and payment extensions to hurricane victims in 16 counties in Florida, all of St. John and St. Thomas in the U.S. Virgin Islands, and four municipalities in Puerto Rico.
In an effort to reduce identity theft, the IRS issued proposed regulations that would permit employers to use truncated taxpayer identification numbers (TTINs) on Forms W-2, Wage and Tax Statement.
The numbers confer no special benefit to preparers, a district court holds as it orders refunds.