IRS News
Check back here frequently for the latest news on tax developments and new rules and regulations from the Internal Revenue Service. The IRS is always producing regulations and guidance for tax preparers and practitioners to follow, while increasingly coordinating on an international basis with tax authorities abroad on both individual and business tax compliance.
IRS Finalizes Regulations on Allocation and Apportionment of Interest Expenses by Partners
The Internal Revenue Service has issued final regulations to provide guidance on the allocation and apportionment of interest expense by corporations that own a 10 percent or greater interest in a partnership, along with the allocation and apportionment of interest expense using the fair market value method. Read more »
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IRS Issues Rules on Money Market Funds and Wash Sales in Response to SEC Reforms
July 23, 2014On the same day that the Securities and Exchange Commission issued long-awaited rules for money... Read more »
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GAO Finds It Easy to Fake Applications for Health Insurance Premium Tax Credits
July 23, 2014Undercover investigators working with the Government Accountability Office found it was easy to... Read more »
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IRS Has Trouble Auditing Large Partnerships
July 22, 2014The growing number and complexity of large partnerships, such as hedge funds, are making it... Read more »
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IRS Didn’t Properly Check Work Opportunity Tax Credit Eligibility
July 22, 2014The Internal Revenue Service did not establish processes to verify eligibility for the Work... Read more »
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IRS Finalizes Rules for Research Expenditures
July 21, 2014The Internal Revenue Service has released final regulations to amend the definition of research... Read more »
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Thomson Reuters Releases Report on IRS Examinations
July 21, 2014Thomson Reuters has released a special report for tax professionals on how to respond to Internal... Read more »
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IRS Can’t Regulate CPA Preparers’ Fee Arrangements for Ordinary Refund Claims
July 18, 2014The U.S. District Court for the District of Columbia has ruled that the Internal Revenue Service... Read more »
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GAO Finds Conflicting Definitions in Tax Code
July 18, 2014Definitions for the same or similar terms such as “income,” “small business”... Read more »
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Congress Probes Legitimacy of ACA Premium Tax Credits
July 18, 2014Congress is planning a hearing next week on the integrity of the Affordable Care Act’s... Read more »
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Expectations High for IRS Transfer Pricing Audit Roadmap
July 17, 2014Businesses that are struggling with transfer pricing issues are hoping that a new tool from the... Read more »
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In the Blogs: It’s the Law, Stupid
July 17, 2014Highlights of some of our favorite tax-related blogs from the past week. Read more »
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Justice Department Said to Be Investigating Missing IRS E-Mails
July 17, 2014The U.S. Justice Department is investigating the loss of more than two years of e-mails from an... Read more »
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House Republicans Seek Lois Lerner Emails on Karl Rove’s Crossroads GPS Group
July 16, 2014House Ways and Means Committee chairman Dave Camp, R-Mich., and Ways and Means Oversight... Read more »
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Taxpayer Advocate Urges IRS to Assist Victims of Tax Preparer Fraud and Expand Preparer Testing
July 16, 2014National Taxpayer Advocate Nina Olson has released her mid-year report to Congress, in which she... Read more »
