IRS Releases Final Regs on Tax Implications of Post-Libor Modifications
Shortly before the cessation of two U.S. dollar Libor tenors on Dec. 31, the IRS last week issued final regulations ...
Tag: IRS
Report: IRS Reporting Provision Omitted from House Budget Bill
With bipartisan opposition growing for a controversial proposal that would require financial institutions to report information on gross inflows and ...
21 House Democrats Call for IRS Reporting Proposal to be Cut from Spending Bill
A group of 21 Democratic representatives wrote to House leadership today calling for the removal of the Biden administration’s controversial ...
House Financial Services Committee Members Call for Tax Reporting Proposal Hearing
Members of the House Financial Services Committee today called for a hearing to discuss controversial tax proposal requiring banks to ...
Edwards: IRS Reporting Proposal Could Damage Trust in Banks; Manchin Also Opposes
A controversial Biden administration proposal that would require financial institutions to report information on gross inflows and outflows of all ...
ABA, Trade Groups Reiterate Opposition to Tax Reporting Proposal
A broad coalition of 99 trade groups representing various industries—including the American Bankers Association—today wrote to President Biden urging him ...
Sen. Scott Introduces Bill to Block IRS Reporting Proposal
Sen. Tim Scott (R-S.C.) today introduced a bill that would block the Internal Revenue Service from creating new requirements for ...
Rep. Crist Opposes IRS Reporting Proposal
Rep. Charlie Crist (D-Fla.) today announced that he opposes the Biden administration’s controversial IRS data reporting proposal—becoming the first Democrat ...
GOP Lawmakers Urge Dems, Administration to Abandon IRS Reporting Proposal
A group of 202 House Republican lawmakers, led by Rep. Tom Emmer (R-Minn.), wrote to Treasury Secretary Janet Yellen today ...
Sen. Crapo Calls for Release of Details on IRS Reporting Proposal
In a letter to Treasury Secretary Janet Yellen today, Senate Finance Committee Ranking Member Mike Crapo (R-Idaho) called for more ...
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