by usoftax_admin | Sep 25, 2024 | Tax News
The Internal Revenue Service plans to release more guidance governing the tax treatment of research and development expenses before it formally issues proposed regulations that implement the 2017 federal tax law’s changes to the incentive, an agency attorney... by usoftax_admin | Sep 25, 2024 | Tax News
Buyers of new vehicles with higher-than-average energy performance would be entitled to a tax credit of up to $5,000 under a bill introduced in the U.S. House of Representatives. by usoftax_admin | Sep 25, 2024 | Tax News
While the deployment of the Internal Revenue Service’s pilot of its free online Direct File program was largely successful, the agency must address some security lapses and testing deficiencies, the Treasury Inspector General for Tax Administration said... by usoftax_admin | Sep 25, 2024 | Tax News
The Internal Revenue Service may include in upcoming proposed regulations a solution for partnership basis-shifting for taxpayers that want to adjust accounting methods so prior transactions can be compliant with economic substance laws, an agency attorney said... by usoftax_admin | Sep 25, 2024 | Tax News
Lawmakers should consider next year how to revise partnership tax laws to better collect on large businesses’ income without harming smaller entities as Congress debates over how to address expiring tax provisions, Senate Finance Committee Chairman Ron Wyden... by usoftax_admin | Sep 25, 2024 | Tax News
A bill introduced in the U.S. House of Representatives would exclude veteran disability benefits from the income calculation for the low-income housing tax credit.