Due to “extremely low” demand and high costs, the Treasury Department announced that it is ending the myRA retirement savings program.
Source: Tax News
Read More here – Treasury ends myRA retirement savings program
The IRS issued final regulations that govern the relief available for victims of domestic abuse or abandonment from the requirement that married taxpayers must file joint income tax returns to qualify for the Sec. 36B premium tax credit.
Source: Tax News
Read More here – Final regs. address premium tax credit issues
If granted, the stay would allow the IRS to charge the fees while it decides whether to appeal the district court decision that struck down the fees and, if it does appeal, during the appeal itself.
Source: Tax News
Read More here – IRS moves for stay of PTIN fee injunction
The IRS Office of Appeals announced that on Aug. 1 it will begin offering taxpayers and their representatives a new web-based virtual conference option for taxpayer conferences.
Source: Tax News
Read More here – IRS pilots Appeals videoconference service
Changes to the due dates and extensions of time to file various tax returns and information returns were implemented in a package of regulations the IRS issued on Wednesday.
Source: Tax News
Read More here – Regulations address new statutory due dates for many tax returns
The health care bill released by Senate Republicans on Thursday would retain the Affordable Care Act’s 3.8% net investment tax and the 0.9% Medicare surtax.
Source: Tax News
Read More here – Revised Senate health bill would retain taxes on higher-income individuals
The IRS withdrew rules it proposed in 2005 that would have required certain corporate formations and reorganizations to meet net value requirements before they would qualify for nonrecognition treatment.
Source: Tax News
Read More here – IRS withdraws proposed net value requirement rule
After reviewing all 105 Treasury regulations issued in 2016 and early 2017, the Treasury Department has identified eight that cost too much, are too complex or exceed the IRS’s statutory authority.
Source: Tax News
Read More here – Treasury identifies 8 regulations as burdensome
FinREC is requesting feedback on four working drafts that provide industry-specific guidance for entities implementing FASB Accounting Standards Update No. 2014-09, Revenue From Contracts With Customers (Topic 606).
Source: JOA News
Read More here – FinREC unveils 4 more revenue recognition working drafts
