Uncertainty about significant tax changes proposed in the Build Back Better bill require attention and action from taxpayers.
The IRS is tackling identity theft by using ID.me verification technology to guard access to online services.
National Taxpayer Advocate, Erin Collins, recommends the IRS pause automated collection notices. Congress may consider the recommendation.
The Taxpayer Advocate Service highlighted 10 major IRS problems affecting taxpayers and made several recommendations to mitigate the issues.
The new Lease Accounting Standard is complex and requires organizations that have U.S. GAAP reporting requirements to analyze all their leases.
Senate Finance Committee Build Back Better language largely leaves House Bill unchanged. SALT language omitted as well as billionaires’ tax.
Under the BBB Act, only the 50% gain exclusion would be available to taxpayers that sell QSBS. How would this affect their tax liability?
In response to the allowance of the SALT deduction at the entity level, most states including Idaho, Oregon, and California passed legislation to allow elective PTE tax.
IRS releases Rev. Procs. 2021-48, 2021-49 and 2021-50 to address the treatment of tax-exempt income for PPP loans.
Bipartisan infrastructure bill passes House with bipartisan vote. President Biden expected to sign by end of next week.