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AICPA Endorses Bipartisan Legislation to Provide Additional Tax Relief to Victims of Natural Disasters
Under current law, taxpayers affected by a major disaster often have less time to make a refund or credit claim than those who are not affected.
Tax & Compliance Advisor
IRS Extends RMD Tax Relief for Inherited IRAs
This relief was provided to certain RMDs in 2021, 2022, and 2023, and is being extended in Notice 2024-35 to 2024.
AICPA: Clarification Is Needed for Form 990 Series
The AICPA’s comments also include a matrix for the Form 990 series which focuses on specific sections and the recommendations for those sections.
Canada Set to Start Taxing Tech Giants This Year Despite U.S. Complaints
The digital services tax currently before Canada's Parliament would impact U.S.-based companies like Alphabet and Meta Platforms.
Point-of-Sale EV Tax Rebates Are a Hit, Treasury Department Says
Treasury says the federal government has reimbursed more than $580 million to the dealers who offered the tax credit.
IRS Updates FAQs on Electric Vehicle Tax Credits
The revised FAQs pertain to the new, previously owned, and qualified commercial clean vehicle credits.
IRS Says Work-Life Referral Services Are a De Minimis Fringe Benefit
The use of such referral and information services would be excluded from employees' taxable gross income, according to the IRS.
Bidens Paid 23.7% Effective Federal Tax Rate in 2023
President Joe Biden and first lady Jill Biden paid $146,629 in federal income taxes on a combined $619,976 in AGI last year.