The IRS has issued a proposed rule to make permanent temporary relief from the physical presence requirement for participant elections and spousal consents.
The Treasury Department issued initial guidance regarding a new annual excise tax that applies to repurchases of a publicly traded corporation’s stock that takes place after Dec. 31, 2022.
The American Bankers Association along with 17 associations and businesses today sent a joint letter to the IRS requesting that the agency make permanent the temporary relief from the physical presence requirement for spousal consent granted during the early days of the pandemic.
President Joe Biden todau announced that he will nominate Danny Werfel to serve as IRS commissioner.
Last week, the IRS announced that its soon-to-be final regulations on required minimum distributions will apply starting next year.
ABA’s Kinsella recaps key provisions of the Inflation Reduction Act.
After months of negotiating, the Senate yesterday passed legislation to address selected portions of the Biden administration’s agenda for climate change, healthcare and tax policy.
After months of negotiating, Sens. Chuck Schumer (D-N.Y.) and Joe Manchin (D-W.Va.) announced an agreement on proposed legislation to address selected portions of the Biden administration’s agenda for climate, health, deficit reduction and tax.
The proposal would mandate that financial institutions report information on gross inflows and outflows of all customer accounts above a de minimis level of $10,000 to the IRS.
ABA last week submitted recommendations to the Internal Revenue Service on tax issues that are in need of interpretive guidance for the upcoming fiscal year.