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74 Federal Tax Provisions To Expire Through 2034, JCT Says

by usoftax_admin | Jan 11, 2024 | Tax News

Seventy-four federal tax provisions will expire between now and the end of 2034, the Joint Committee on Taxation said in a report published Thursday.

Judge Upholds IRS Guidance On Abusive Benefit Trusts

by usoftax_admin | Jan 11, 2024 | Tax News

Guidance from the Internal Revenue Service that requires disclosure of potentially abusive benefit plans is not unlawfully vague, an Arizona federal court ruled, rejecting arguments from a recruiting firm that claimed the guidance was confusing and wrongly labeled...

IRS Temporarily Waives Partnership Exchange Filing Penalties

by usoftax_admin | Jan 11, 2024 | Tax News

The Internal Revenue Service will temporarily halt imposing penalties on taxpayers who failed to provide correct payee statements as part of a partnership interest exchange in 2023, the agency announced Thursday.

Trump Speech Caps Chaotic NY Trial: ‘I Am An Innocent Man’

by usoftax_admin | Jan 11, 2024 | Tax News

Former President Donald Trump spoke directly to the judge during closing statements in the New York attorney general’s civil fraud trial Thursday, proclaiming his innocence and arguing that the state should pay him back for what he called a political...

IRS Making Progress On Facility Security, TIGTA Says

by usoftax_admin | Jan 11, 2024 | Tax News

The Internal Revenue Service continues to take steps to improve security at its facilities, the Treasury Inspector General For Tax Administration said in a report published Thursday.

IRS Makes Fixes To Renewable Energy Credit Rules

by usoftax_admin | Jan 11, 2024 | Tax News

The Internal Revenue Service issued a handful of corrections Thursday relating to the renewable energy credit under Section 48 of the Internal Revenue Code.
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