Tax regulations

The Internal Revenue Service has posted information on how people who weren’t supposed to receive their economic impact payments for the novel coronavirus pandemic should return the money.

A bipartisan group of lawmakers introduced legislation Wednesday to enable small businesses to deduct their expenses even if they have received a loan from the federal government’s Paycheck Protection Protection Program that was later forgiven.

The Internal Revenue Service and the Treasury Department issued proposed regulations on a provision of the Tax Cuts and Jobs Act.

The Internal Revenue Service and the Treasury Department provided cross-border tax guidance Tuesday to provide relief to individuals and businesses affected by travel disruptions arising from the novel coronavirus pandemic.

The Internal Revenue Service is including a question at the top of Schedule 1 of the Form 1040 this year asking taxpayers whether they received, sold, sent, exchanged or acquired a financial interest in virtual currency in 2019, but most taxpayers won’t have any record from a Form 1099 about their cryptocurrency transactions.

It is important to look at cost segregation and what it can do for a taxpayer.

Ask the average business owner if they have a tax shelter and they’d probably have a chuckle while wistfully thinking about how nice it would be to swim in crystal clear waters while their offshore bank accounts grew, unencumbered by state and federal taxes.

The Internal Revenue Service is postponing the date for filing gift tax and generation-skipping transfer tax returns and making payments until July 15 because of the novel coronavirus pandemic.

The Internal Revenue Service posted a frequently asked questions page about the recently announced delay in tax filing and payments until July 15 because of the novel coronavirus pandemic.

The relief is only for income taxes, and doesn't change any filing deadlines.

As you’re gathering documents this tax season and preparing personal tax returns, you may come across clients who have employed domestic help in the past year.

The service issued final regs to increase the OIC application fee to $205, while offering another way to waive the fee for low-income taxpayers based on their AGI.

Here are some of the significant disclosure items that are either already required, or will be required, for next filing season.

The Internal Revenue Service is giving holders of foreign retirement trusts an exemption from some of the information reporting requirements, along with the abatement of penalties.

The American Institute of CPAs has submitted comments to the Internal Revenue Service and the Treasury Department asking them for more guidance on the qualified business income deduction in the Tax Cuts and Jobs Act.

A brewing fight about which country has the right to tax some of the world’s most profitable companies, including Facebook Inc. and Alphabet Inc.’s Google, could devolve into a multi-front trade war, regardless of whether President Donald Trump is still in the White House.

The Internal Revenue Service is confronting challenges with administering and ensuring compliance with the business provisions of the Tax Cuts and Jobs Act, although it has made a considerable amount of progress in implementing them, according to a new government report.

The justices let stand an appeals ruling that precluded a tax refund to movie producers, deferring to an IRS regulation that ended the common-law mailbox rule for refund claims, even though Clarence Thomas reversed his position on an earlier case.

The Internal Revenue Service has released a set of proposed regulations for businesses to follow when deducting meals and entertainment, in response to the 2017 tax overhaul.

The Internal Revenue Service is getting set to unveil its proposed regulations for the reporting of unrelated business income for tax-exempt organizations.