Tax regulations

The Internal Revenue Service's Independent Office of Appeals hopes to improve both service and the experience of its workforce.

The service is sending 20,000 disallowance letters, with more action and a voluntary disclosure program coming.

The rules, which aren't finalized, include measures sought by environmentalists that would require hydrogen-production operations to be powered by wind, solar or other clean-power projects built within the last three years to qualify for a $3-per-kilogram credit.

A short window won't necessarily stop lawmakers from proposing or introducing new legislation, though — if only to position themselves ahead of next November's election.

Among other things, they may unintentionally snare mutual funds, an expert testifies.

The service will postpone the lower threshold, but will phase in a threshold of $5,000 for tax year 2024.

The Treasury and the IRS issued laid out possible regs to update the investment tax credit rules to encompass various forms of renewable energy.

The regulations address new subsections of the law from the SECURE 2.0 Act.

Proposed regulations from the IRS are generally effective beginning in 2024.

Taxpayers will now have through Jan. 10, 2025, to fix a refund claim.

The Internal Revenue Service wants to update the regulations governing the sale of a taxpayer's property taken during a levy.

The IRS's interim guidance answers many questions but leaves others unaddressed, according to tax experts.

Along with the possible requirement to file paperwork for establishing the corporation in the new state, there may be changes in tax responsibilities.

The IRS has recently unveiled proposed regulations that shine a light on the murky world of digital asset broker definitions, the intricacies of the new Form 1099-DA, and its implementation timeline.

The service has been working hard to implement the dozens of tax provisions contained in last year's Inflation Reduction Act, according to a new report.

The 2022 law created two new credit delivery mechanisms, allowing governments, nonprofits and other entities to take advantage of the credits.

Neither the IRS nor Congress has specifically addressed the tax deductibility of ransomware payments made to hackers, nor has FASB.

The Treasury Department is in the midst of writing rules for how it will distribute the measure's tax credits from hydrogen projects to low-carbon aviation fuel, but work on that guidance could grind to a halt if the government closes.

With droughts impacting almost all 50 states, the IRS is giving more relief.