ABA recommends several priority issues in need of IRS guidance
ABA last week submitted recommendations to the Internal Revenue Service on tax issues that are in need of interpretive guidance ...
Tag: IRS
ABA raises compliance concerns about RMD proposal for IRAs
ABA this week raised concerns about the Internal Revenue Service’s proposed required minimum distribution rule for retirement plans and IRAs, ...
IRS updates contribution limits for HSAs
The Internal Revenue Service today released updated contribution limits—adjusted for inflation—for health savings accounts for 2023.
ABA, Trade Groups Call for Withdrawal of Foreign Tax Credit Regulations
The American Bankers Association joined with a broad-based group of trade associations in a letter expressing strong concerns on final ...
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 ...
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 ...
