IRS halts employee retention credit processing
The IRS has temporarily halted processing of employee retention credit claims and will provide additional guidance for businesses.
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New guidance released on clean energy credit labor requirements
The IRS and Treasury released proposed regulations with respect to prevailing wage and apprenticeship requirements for clean energy tax incentives.
IRS updates guidance on environmental justice solar and wind capacity limitation
Treasury and the IRS have released final regulations and a revenue procedure providing guidance on program under section 48(e).
IRS releases initial rules for expenditures under section 174
IRS issues Notice 2023-63 outlining how taxpayers should treat their research and development expenditures under section 174.
Proposed regulations for digital assets are here! Now what?
Proposed regulations for digital asset reporting under section 6045 will require brokers to report sales and exchanges of digital assets to the IRS.
Estate planning after the sale of a business interest
This article discusses estate planning and tax considerations after the sale of a business interest or other liquidity event, including common strategies to reduce estate tax and meet charitable giving goals.
New guidance from IRS on correction of errors in qualified retirement plans
The IRS released Notice 2023-43 to provide interim guidance on plan correction changes under SECURE 2.0 until Rev. Proc. 2021-30 (EPCRS) is updated.
FinCen releases FAQs to clarify Beneficial Ownership Information (BOI) reporting
FinCen’s new FAQs aim to clarify beneficial ownership information reporting requirements
Key challenges for complying with FinCEN’s new beneficial owner reporting rules
Reporting changes for companies with beneficial owners takes effect on Jan. 1, 2024. Leverage these 10 steps to ensure you’re ready to comply and manage the risk that comes with these new rules
SECURE 2.0’s legislative impact on plan corrections
SECURE 2.0 expanded the Employee Plans Compliance Resolution System (EPCRS) to enhance the operational feasibility of qualified plans.
IRS releases spending plan for $80 billion IRA funds
The IRS issued an ambitious strategic operating plan for spending $80 billion in additional funding provided by the Inflation Reduction Act.
What does SECURE 2.0 mean for small employers?
SECURE 2.0 changes retirement plan rules for small employers with 100 or fewer employees.
ASC 740: FASB proposes new income tax disclosures
The proposal aims to improve the transparency and consistency of income tax disclosures by expanding the required disclosures around the rate reconciliation and income taxes paid.
Proposed regulations on using forfeitures in retirement plans
Proposed regulations REG-122286-18, released Feb. 24, provide guidelines for plan administrators to use forfeited amounts in retirement plans.
Retirement plan changes for long-term, part-time employees
SECURE 2.0 changes the rules for how long-term, part-time employees are treated for purposes of 401(k) and 403(b) retirement plans.
Required minimum distributions after SECURE 2.0
SECURE 2.0 changes the rules governing how and when certain retirement savers can withdraw money from their retirement accounts and IRAs.