by usoftax_admin | Sep 14, 2023 | Tax News
The IRS is studying possible ways to expand eligibility requirements for the compliance assurance process, a real-time corporate audit program, thanks to the funding boost provided by the Inflation Reduction Act, an agency official said Thursday. by usoftax_admin | Sep 14, 2023 | Tax News
Digitally calculated penalties imposed on employers who fail to file certain tax forms do not require supervisory approval, the U.S. Tax Court ruled Thursday. by usoftax_admin | Sep 14, 2023 | Tax News
Sens. Shelley Moore Capito, R-W.Va., and Kyrsten Sinema, I-Ariz., pushed Thursday to revive a tax deduction for interest on business loans, saying that renewing an expired provision from the 2017 GOP tax overhaul would help restaurants, manufacturers and other small... by usoftax_admin | Sep 14, 2023 | Tax News
A Ninth Circuit panel declined Thursday to revisit its decision barring a Nevada couple from offsetting their taxes using partnership losses claimed on unsigned returns submitted during litigation with the Internal Revenue Service. by usoftax_admin | Sep 14, 2023 | Tax News
The Internal Revenue Service continues to struggle to catch up with a backlog of tax returns and other account work, despite new funding and initiatives meant to address the problem, according to an agency watchdog report released Thursday. by usoftax_admin | Sep 14, 2023 | Tax News
The Internal Revenue Service’s classification of non-fungible tokens as digital assets under new proposed reporting rules for brokers has prompted the blockchain industry and other stakeholders to demand more clarity on regulations governing NFTs, which can be...