CPA Never under estimate the value
A survey by the AICPA shows that almost two-thirds of tax professionals say it takes over 90 days to get a substantive response from the IRS to correspondence.
Source: JOA News
Read More here – Tax pros: IRS improving, but getting the right answer takes too long
The final regulations provide guidance regarding the reporting and payment of the excise tax on repurchases of corporate stock made after Dec. 31, 2022.
Source: JOA News
Read More here – Final regs. issued for 1% excise tax on corporate stock repurchases
The final regulations require custodial brokers to report transactions on Form 1099-DA, which the IRS will release soon. A different set of final regulations with rules for decentralized, or noncustodial, brokers will be issued later.
Source: JOA News
Read More here – IRS issues final regs. on reporting requirements for digital assets
The Court held that the APA requires courts to exercise their independent judgment in deciding whether an agency has acted within its statutory authority and not to defer to an agency’s interpretation of the law simply because a statute is ambiguous.
Source: JOA News
Read More here – Supreme Court overrules 40-year-old Chevron doctrine
Even if you’re concerned about risk related to tech tools like ChatGPT and Copilot, it’s possible to use them to improve day-to-day life at your organization — starting today.
Source: JOA News
Read More here – 3 ways to use generative AI to save time today
The IRS is making a time-limited settlement offer to certain taxpayers who participated in syndicated conservation easements. The terms will require “substantial concession” of income tax benefits and the imposition of some penalties.
Source: JOA News
Read More here – Settlement offers to be sent on syndicated conservation easements
In her midyear report to Congress, National Taxpayer Advocate Erin Collins writes that, as of April, the IRS was taking over 22 months to resolve cases in its identity theft victim assistance unit, which had about 500,000 unresolved cases.
Source: JOA News
Read More here – ‘Unconscionable’ delays in ID theft cases mar IRS tax season: report
Organizations are encouraged to foster an inclusive work environment and create a culture of safety and belonging.
Source: JOA News
Read More here – 5 ways to support LGBTQ+ employees
The IRS on Monday issued final regulations providing guidance on the new rule that disallows charitable contribution deductions for certain conservation easement contributions by partnerships and other passthrough entities.
Source: JOA News
Read More here – Final regs. issued on conservation easement deduction disallowance
The Court will rule by the end of its term Friday on the fate of the Chevron doctrine, which requires courts to give deference to a reasonable interpretation of an ambiguous statute by a government agency, including the IRS.
Source: JOA News
Read More here – Supreme Court decision on Chevron doctrine will affect tax pros
