A bipartisan group of lawmakers — led by Rep. Gregory Meeks (D-N.Y.) and including House Ways and Means Committee Chairman Kevin Brady (R-Texas) — wrote to the Internal Revenue Service yesterday to express concerns about recent changes to the IRS’ tax transcript processing system that could result in significant delays for consumers when attempting to purchase or refinance a home.
In a comment letter with nine trade associations on Friday, ABA urged the IRS to take immediate steps to fix problems with the tax transcript process that could result in significant delays for consumers attempting to purchase or refinance a home.
The Treasury Department today released a report on regulatory burden in the tax code.
The IRS yesterday formalized previously announced plans to allow withholding agents more time to meet requirements of obtaining foreign taxpayer identification numbers — or a reasonable explanation for not having one — and dates of birth on required documentation for foreign customers.
As the Securities and Exchange Commission considers whether or not to propose a standard of conduct for investment advisers and broker-dealers, the American Bankers Association in a comment letter today outlined several key considerations for the SEC as it moves forward.
The Department of Labor yesterday issued a request for information on the fiduciary rule as part of its ongoing review of the rule in response to an executive order by President Trump.
In a letter today to Labor Secretary Alexander Acosta, a group of more than 100 Republican lawmakers called for a delay to the fiduciary rule, which expands the definition of “fiduciary” under the Employee Retirement Income Security Act and the Internal Revenue Code.
The CEOs of nine financial trade associations, including ABA, wrote to newly confirmed Secretary of Labor Alexander Acosta today requesting a meeting on the Department of Labor’s fiduciary rule.
The Internal Revenue Service’s seizure program for allegedly structured business deposits swept up millions of dollars in legally sourced funds that were not returned to their owners, according to a major report from the IRS’s independent inspector general.
The Department of Labor is proposing to extend the applicability deadline of the fiduciary rule for 60 days, until June 7, according to a notice published in the Federal Register.