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IRS Appoints 18 Members To Advisory Council

by usoftax_admin | Jan 14, 2025 | Tax News

The Internal Revenue Service appointed 18 new members to its advisory council to serve three-year terms starting this month, the agency said Tuesday.

IRS Releases Latest Surprise Healthcare Bill Calculation Rate

by usoftax_admin | Jan 14, 2025 | Tax News

The Internal Revenue Service provided Tuesday a percentage increase for calculating certain out-of-network healthcare coverage for 2025 under legislation that barred surprise medical bills.

Trump Announces Plans To Create ‘External Revenue Service’

by usoftax_admin | Jan 14, 2025 | Tax News

President-elect Donald Trump said Tuesday that he planned to create an “External Revenue Service” that would collect tariffs and revenue from foreign countries.

IRS Updates Scam Protections For 2025 Filing Season

by usoftax_admin | Jan 14, 2025 | Tax News

The Internal Revenue Service announced changes Tuesday for the 2025 tax filing season designed to help protect taxpayers and tax professionals from scams and schemes, including updates to certain forms and increasing reviews and education.

What’s Ahead As Transparency Act Comes To A Crossroads

by usoftax_admin | Jan 14, 2025 | Tax News

Synthesizing the contrasting federal district and appellate court rulings on the Corporate Transparency Act’s validity reveals several main areas of debate that will likely remain at issue as challenges to the law continue winding through the courts, say attorneys at...

Amount B reservations holding up pillar one agreement, OECD reveals

by usoftax_admin | Jan 14, 2025 | Tax News

Just one member objected to the multilateral convention on amount A, citing concerns over amount B
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