Organization Root Tag

What did and didn't make it into the bill; Shopify and sales tax; why the IRS dawdled; and other highlights from our favorite tax bloggers.

The new notices offer temporary clarity around two provisions of the Inflation Reduction Act of 2022, on the corporate AMT and the stock repurchase excise tax.

At issue is whether the IRS needs to tell taxpayers when it gathers information about their bank accounts and other records.

They can now be kicked off U.S. exchanges after just two years, not three.

The $1.7 trillion bill contains Secure 2.0, and changes in the Holding Foreign Companies Accountable Act and conservation easement rules, but it's missing some much desired tax breaks.

The Internal Revenue Service and the Treasury are giving investment brokers more time to report information on transactions involving digital assets such as cryptocurrency.

The International Ethics Standards Board for Accountants is focusing more on sustainability-related issues.

The lower threshold threatened to generate millions of new forms going out to unsuspecting taxpayers and their accountants.

The Securities and Exchange Commission voted to approve the Public Company Accounting Oversight Board's 2023 budget and annual accounting support fee ahead of the holidays.

The Inflation Reduction Act heavily modified the Section 179D Energy Efficient Commercial Building Deduction and the Section 45L Energy Efficient Home Credit.

"Proof of reserves is neither a full accounting of the assets and liability of a company, nor does it satisfy segregation of customer funds under the securities laws," said SEC chair Gary Gensler.

The Internal Revenue Service would be legally mandated to annually audit the president and publish the results under legislation passed by the House.

The Internal Revenue Service is responding to feedback on its draft form and instructions for Schedule UTP for reporting uncertain tax positions by making some changes for next tax season.

Plus, the Institute of Internal Auditors expressed serious concerns about a recent board proposal on audit confirmations.

The Internal Revenue Service's Exempt Organizations unit needs to change its procedures and training when deciding whether to deny tax-exempt status to charities, according to a new report.

The service released a set of FAQs about recent changes to tax incentives for energy efficient home improvements and residential clean energy property.

The Internal Revenue Service won't meet its goal of catching up on its backlog of millions of unprocessed tax returns by the end of this year.

As 2023 comes into view, the specter of 87,000 new IRS employees has gotten the attention of accountants and bookkeepers — as well as small and midsized business owners.

The Treasury Department's top official for financial markets and stability expressed little urgency over the federal government's need to prepare for the potential launch of a digital U.S. dollar.

The Financial Accounting Standards Board is extending the period of time to use its LIBOR-to-SOFR relief guidance.