ABA recommends changes to proposed car loan interest tax deduction regulations
ABA is recommending that the IRS make several changes to its proposed regulations to implement a new tax deduction for...
Tax and Accounting
ABA offers recommendations for easing corporate alternative minimum tax burden
ABA suggested regulators make two changes to the rules implementing the corporate alternative minimum tax to reduce the compliance burden...
ABA offers recommendations for implementation of new ag lender tax benefit
ABA offered several recommendations for how the IRS should implement a new tax benefit for lenders serving rural and agricultural...
Treasury announces U.S. exemption from global minimum business tax
U.S.-based multinational companies will be exempt from the OECD Pillar Two global minimum tax framework under a new international agreement...
IRS issues guidance on health savings account provisions in tax bill
The IRS released guidance on new tax benefits for health savings account participants under a tax package passed by Congress...
Learning from banks’ 2023 borrowing from the Fed
Use of the discount window by banks reaffirms that severe stress in 2023 was limited to a handful of banks.
IRS issues guidance for ‘Trump Accounts’ for children
The IRS and Treasury Department have published guidance and announced plans to issue regulations for “Trump Accounts,” which are a...
Senate-approved IRS reform addresses math, clerical error procedures
The Senate passed legislation requiring the IRS to provide taxpayers with details on notices related to a math or clerical...
IRS strikes funding rule from new tax on stock repurchases
The IRS has removed a controversial rule in a new regulation implementing a 1% excise tax on certain types of...
IRS releases interim guidance on ACRE Act tax benefit
The IRS issued interim guidance for a new tax benefit for lenders serving rural and agricultural communities, which was included...
