Newsletters
2025 Inflation Adjustments for Pension Plans, Retirement Accounts Released, Notice 2024-80; IR-2024-285
The 2025 cost-of-living adjustments (COLAs) that affect pension plan dollar limitations and other retirement-related provisions have been released by the IRS. In general, many of the pension plan limi...
The 2025 cost-of-living adjustments (COLAs) that affect pension plan dollar limitations and other retirement-related provisions have been released by the IRS. In general, many of the pension plan limi...
Little Chance for Lame Duck Tax Legislation, Reconciliation Bill on Table in 2025
WASHINGTON–With Congress in its lame duck session to close out the remainder of 2024 and with Republicans taking control over both chambers of Congress in the just completed election cycle, no major...
WASHINGTON–With Congress in its lame duck session to close out the remainder of 2024 and with Republicans taking control over both chambers of Congress in the just completed election cycle, no major...
IRS Reminds Eligible IRA Owners of Increased Tax-Free Charitable Donation Limit for 2024, IR-2024-289
The IRS reminded individual retirement arrangement (IRA) owners aged 70½ and older that they can make tax-free charitable donations of up to $105,000 in 2024 through qualified charitable distributi...
The IRS reminded individual retirement arrangement (IRA) owners aged 70½ and older that they can make tax-free charitable donations of up to $105,000 in 2024 through qualified charitable distributi...
Final and Proposed Regulations Issued on Election to Exclude Unincorporated Organizations from Partnership Rules, T.D. 10012; NPRM REG-116017-24
The Treasury Department and IRS have issued final regulations allowing certain unincorporated organizations owned by applicable entities to elect to be excluded from subchapter K, as well as proposed ...
The Treasury Department and IRS have issued final regulations allowing certain unincorporated organizations owned by applicable entities to elect to be excluded from subchapter K, as well as proposed ...
NTA Calls Out IRS on Proposed Changes to Third Party Contact Regs
National Taxpayer Advocate Erin Collins is criticizing the Internal Revenue Service for proposing changed to how it contacts third parties in an effort to assess or collect a tax on a taxpayer. ...
National Taxpayer Advocate Erin Collins is criticizing the Internal Revenue Service for proposing changed to how it contacts third parties in an effort to assess or collect a tax on a taxpayer. ...
Regulations Amended to Modernize Sales of Seized Property and Maximize Proceeds, T.D. 10011
The IRS has amended Reg. §30.6335-1 to modernize the rules regarding the sale of a taxpayer’s property that the IRS seizes by levy. The amendments allow the IRS to maximize sale proceeds for both t...
The IRS has amended Reg. §30.6335-1 to modernize the rules regarding the sale of a taxpayer’s property that the IRS seizes by levy. The amendments allow the IRS to maximize sale proceeds for both t...
FinCEN Provides BOI Reporting Relief to Victims of Recent Natural Disasters, FIN-2024-NTC7; FIN-2024-NTC8; FIN-2024-NTC9; FIN-2024-NTC10; FIN-2024-NTC11
The Financial Crimes Enforcement Network (FinCEN) has announced that certain victims of Hurricane Milton, Hurricane Helene, Hurricane Debby, Hurricane Beryl, and Hurricane Francine will receive an add...
The Financial Crimes Enforcement Network (FinCEN) has announced that certain victims of Hurricane Milton, Hurricane Helene, Hurricane Debby, Hurricane Beryl, and Hurricane Francine will receive an add...
NTA Applauds IRS Changes to Foreign Gift, Inheritance Filing Penalties
National Taxpayer Advocate Erin Collins offered her support for recent changes the Internal Revenue Service made to inheritance filing and foreign gifts filing penalties....
National Taxpayer Advocate Erin Collins offered her support for recent changes the Internal Revenue Service made to inheritance filing and foreign gifts filing penalties....
AICPA Urges IRS, Treasury to Issue Guidance on Payroll Tax Deferral
The American Institute of CPAs (AICPA) has urged the IRS and Treasury in an August 12 letter to issue guidance on President Trump’s payroll tax deferral memorandum. The executive action signed by th...
The American Institute of CPAs (AICPA) has urged the IRS and Treasury in an August 12 letter to issue guidance on President Trump’s payroll tax deferral memorandum. The executive action signed by th...
Final Regs Issued on Charitable Contributions and SALT Benefits
The IRS has released final regulations that address the interaction of the $10,000/$5,000 cap on the state and local tax (SALT) deduction and charitable contributions. The regulations include: a safe...
The IRS has released final regulations that address the interaction of the $10,000/$5,000 cap on the state and local tax (SALT) deduction and charitable contributions. The regulations include: a safe...
Final Regulations, Proposed Safe Harbor Issued for Section 163(j) Business Interest Limit
The IRS has issued final regulations regarding the limitation for the business interest expense deduction under Code Sec. 163(j), including recent legislative amendments made for the 2019 and 2020 tax...
The IRS has issued final regulations regarding the limitation for the business interest expense deduction under Code Sec. 163(j), including recent legislative amendments made for the 2019 and 2020 tax...
IRS Issues Proposed Regulations on Partnership Carried Interests
The IRS has issued proposed regulations that implement the "carried interest" rules under Code Sec. 1061 adopted by Congress as part of the Tax Cuts and Jobs Act of 2017 ( P.L. 115-97). Some key aspec...
The IRS has issued proposed regulations that implement the "carried interest" rules under Code Sec. 1061 adopted by Congress as part of the Tax Cuts and Jobs Act of 2017 ( P.L. 115-97). Some key aspec...
Temporary and Proposed Regulations Address Excess Employment Tax Credit Recapture Under Families First Act and CARES Act
The Treasury and the IRS have issued temporary and proposed regulations to: reconcile advance payments of refundable employment tax credits provided under the Families First Coronavirus Response Act ...
The Treasury and the IRS have issued temporary and proposed regulations to: reconcile advance payments of refundable employment tax credits provided under the Families First Coronavirus Response Act ...
Guidance on CARES Act Defined Benefit Plan Funding Relief
The IRS has provided guidance on the special rules relating to funding of single-employer defined benefit pension plans, and related benefit limitations, under Act Sec. 3608 of the Coronavirus Aid, Re...
The IRS has provided guidance on the special rules relating to funding of single-employer defined benefit pension plans, and related benefit limitations, under Act Sec. 3608 of the Coronavirus Aid, Re...
Eligible Rollover Distribution Safe Harbor Explanations Modified
The IRS has modified two safe harbor explanations in Notice 2018-74, 2018-40 I.R.B. 529, that can be used to satisfy the requirement under Code Sec. 402(f) that certain information be provided to reci...
The IRS has modified two safe harbor explanations in Notice 2018-74, 2018-40 I.R.B. 529, that can be used to satisfy the requirement under Code Sec. 402(f) that certain information be provided to reci...
CARES Act Provides Favorable Tax Treatment for Withdrawals from Retirement Plans, IRAs
The IRS has reminded taxpayers that the Coronavirus Aid, Relief, and Economic Security (CARES) Act ( P.L. 116-136) can provide favorable tax treatment for withdrawals from retirement plans and Individ...
The IRS has reminded taxpayers that the Coronavirus Aid, Relief, and Economic Security (CARES) Act ( P.L. 116-136) can provide favorable tax treatment for withdrawals from retirement plans and Individ...
Trump Signs PPP Application Extension Bill
On July 4, President Donald Trump signed into law a Paycheck Protection Program (PPP) application extension bill that Congress had quickly passed just before the Independence Day holiday. According to...
On July 4, President Donald Trump signed into law a Paycheck Protection Program (PPP) application extension bill that Congress had quickly passed just before the Independence Day holiday. According to...
Wolters Kluwer Interview: Outlook on Ever-Evolving Paycheck Protection Program
"If you can look into the seeds of time, and say which grain will grow and which will not, speak then unto me." — William Shakespeare...
"If you can look into the seeds of time, and say which grain will grow and which will not, speak then unto me." — William Shakespeare...
Supreme Court Upholds ACA Contraceptive Rule
The U.S. Supreme Court upheld the Trump Administration’s rule under the Affordable Care Act (P.L. 111-148) that any nongovernment, nonpublicly traded employer can refuse to offer contraceptive cover...
The U.S. Supreme Court upheld the Trump Administration’s rule under the Affordable Care Act (P.L. 111-148) that any nongovernment, nonpublicly traded employer can refuse to offer contraceptive cover...
Guidance on Reporting COVID-19 Qualified Sick and Family Leave Wages
The IRS has issued guidance to employers on the requirement to report the amount of qualified sick and family leave wages paid to employees under the Families First Coronavirus Response Act (Families ...
The IRS has issued guidance to employers on the requirement to report the amount of qualified sick and family leave wages paid to employees under the Families First Coronavirus Response Act (Families ...
Guidance and Relief for 2020 RMD Waiver, Required Beginning Date Changes
The IRS has issued guidance and temporary relief for required minimum distribution (RMD) changes in 2020. Distributions that would have been RMDs under old law are treated as eligible rollover distrib...
The IRS has issued guidance and temporary relief for required minimum distribution (RMD) changes in 2020. Distributions that would have been RMDs under old law are treated as eligible rollover distrib...
Mid-Year Safe Harbor Plan Amendments and COVID-19 Relief
The IRS has clarified and provided relief for mid-year amendments reducing safe harbor contributions. An updated safe harbor notice and an election opportunity must be provided even if the change is o...
The IRS has clarified and provided relief for mid-year amendments reducing safe harbor contributions. An updated safe harbor notice and an election opportunity must be provided even if the change is o...
IRS Amends 199A Regs on Suspended Losses and RICs
The IRS amended final regulations with guidance on the Code Sec. 199A deduction for suspended losses and shareholders of regulated investment companies (RICs). The amendments address the treatment o...
The IRS amended final regulations with guidance on the Code Sec. 199A deduction for suspended losses and shareholders of regulated investment companies (RICs). The amendments address the treatment o...
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