The IRS and a possible new commissioner have until Feb. 17, 2023, to advise Treasury Secretary Janet Yellen how they plan to spend $80 billion that Congress budgeted for the agency over the next 10 years.
It’s worth pausing to reflect on the AICPA’s successes in advocating for the profession with Congress and the IRS this year.
Final regulations provide an automatic extension of time for providers of minimum essential coverage to furnish statements to individuals regarding their coverage.
Final regulations, issued last week, except certain partnership-related items from the regime and provide alternative rules for their examination by the IRS, as well as provide rules for the calculation of imputed underpayments.
In the wake of adverse decisions in the Sixth Circuit and the Tax Court, the IRS announced it is issuing proposed regulations, which it intends to finalize in 2023, that identify certain syndicated conservation easement transactions as listed transactions.
Revised draft instructions for partnership and S corporation Schedules K-2 and K-3 contain significant changes to the requirements to qualify for the domestic filing exception for filing and furnishing the 2022 schedules.
The IRS releases guidance on wage and apprenticeship requirements for enhanced tax benefits under clean energy provisions of the Inflation Reduction Act.
The AICPA said the current draft of Schedule UTP, Uncertain Tax Position Statement, places a “significant burden” on both taxpayers and practitioners.
An audit report from TIGTA says taxpayers would benefit if the IRS used digital communications tools appropriately. The IRS challenged much of the audit report, including saying that TIGTA didn’t understand some of the agency’s objectives for its digital communications program.
Proposed foreign tax credit regulations provide guidance on the reattribution asset rule for purposes of allocating and apportioning foreign taxes, the cost recovery requirement, and the application of the source-based attribution requirement to withholding tax on royalty payments.