Republican Introduces Plan to Abolish Federal Income Taxes
The bill would completely overhaul the U.S. taxation system and essentially disband the Internal Revenue Service.
Your Tax Filing Could Be Free if Musk’s DOGE Commission Gets Its Way
The "Department of Government Efficiency" reportedly wants to create a mobile app so Americans can file their taxes for free.
JD Supra2d
IRS Issues Proposed Regulations Implementing Changes to Code Section 162(m)
On January 14, 2025, the Internal Revenue Service (“IRS”) and the Department of Treasury issued proposed regulations under ...
No tax on tips? Tax deduction for gambling losses? NC lawmakers return with new ideas
Rep. Erin Paré, a Holly Springs Republican who was recently appointed a chair of the House Appropriations Committee, filed ...
JD Supra2d
Treasury Releases Guidance and GREET Model for the Section 45Z Clean Fuel Production Credit
On January 10, 2025, the Treasury Department (the “Treasury”) and the Internal Revenue Service (the “Service”) continued their flurry of new ...
Tax season is here. How to avoid scams and how the IRS is making filing easier
The tax filing season kicked off on Jan 27, with the Internal Revenue Service accepting returns. Taxpayers could face ...
4 ways a tax relief service can reduce your tax bill
The good news is that there may be ways to do that. What many people don't realize is that the tax code includes various provisions for reducing tax debt. The challenge is knowing how to navigate ...
JD Supra8d
US Treasury and IRS Unveil Proposed Regulations for Commercial EV Tax Credit, Sparking Questions on Recapture Provisions
On January 10, the US Treasury Department (Treasury) and the US Internal Revenue Service (IRS) released proposed regulations under Section 45W of ...
JD Supra6d
IRS Updates Guidance on Section 530 and Worker Status Issues
The Internal Revenue Service has released new guidance, Rev. Rul. 2025-3, clarifying the application of Section 530 of the Revenue Act of ...
JD Supra3d
Treasury and IRS Release Final Hydrogen Production Tax Credit Regulations
On January 3, 2025, the U.S. Department of the Treasury (Treasury) and the Internal Revenue Service (IRS) issued final regulations (Regulations) ...
JD Supra7d
Initial Guidance on Clean Fuel Production Credit Under IRC Section 45Z
On January 10, 2025, the Internal Revenue Service (IRS) issued Notice 2025-10 and Notice 2025-11. Notice 2025-10 summarizes proposed ...