Tax regulations

Financial-services companies are set to be exempt from a global plan to make multinational firms pay more tax to the countries where they operate, in a win for U.K. Chancellor of the Exchequer Rishi Sunak.

The early draft instructions respond to comments the IRS received from last summer's draft instructions.

The guidance gives renewable energy companies more time to develop projects that were delayed by COVID-19.

The service has posted new procedures to explain how a change in tax law last year potentially affects the depreciation of residential rental property.

The topic of Employer Identification Numbers is sure to arise as accountants help clients get all of their tax to-dos in order.

Commissioner Rettig told the Senate Finance Committee that the value of the cryptocurrency market now tops $2 trillion.

A GAO report finds that the regulations were burdensome for multinational companies, even though they saved through lower tax rates.

Better, more timely guidance from the IRS would do more to drive compliance, writes Alexis Leondis.

Revenues weren’t hit as hard as many expected, but the changes to the landscape of tax are still enormous, according to experts at Avalara’s Crush event.

President Joe Biden’s pick to lead the Treasury Department’s tax policy efforts pledged to work with lawmakers on a bipartisan basis and be a strong advocate for the Internal Revenue Service.

President Biden releases his annual budget on May 27, a move likely to detail his plans to increase the capital gains tax rate and eliminate a lucrative benefit for inherited estates.

Notice 2021-31 explains a new credit from the American Rescue Plan Act.

The court unanimously ruled against the service in a decision enabling taxpayers to sue over a tax regulation, even before any penalty has been assessed.

As businesses invest in cryptocurrency and sell assets like nonfungible tokens, they should be aware of the accounting and tax issues surrounding them.

The IRS and the Treasury Department are giving small businesses that received Paycheck Protection Program loans in the first round a way to deduct expenses they couldn’t claim last year.

The Internal Revenue Service is providing penalty relief for an employer’s failure to deposit employment taxes with the IRS on a timely basis.

Notice 2021-25 offers details on a provision of the COVID-19 relief package from last December that allows a temporarily larger deduction.

When questions and issues arise about domestic employer obligations, families often turn to their trusted financial professional for advice.

The Internal Revenue Service has changed the calculation for determining the $10,200 exclusion on unemployment benefits in the new pandemic relief package, allowing more taxpayers to qualify, but forcing tax software developers to update their programs.

Yet another IRS change to tax rules amid the COVID pandemic is complicating tax-planning opportunities for financial advisors this filing season.