Tax regulations

The effective date of final regulations on foreign currency used by multinational companies' qualified business units is being postponed for another year.

The service has raised the rates it pays for overpayments and charges for underpayments.

Legislation introduced by a mix of Republicans and Democrats would exempt the firms from being considered cryptocurrency "brokers."

What should employers do to adapt?

A look at the biggest regulations, legislation and court cases in the field from the first half of the year.

The service's new practice unit stresses that agents should look more closely at designers of government-owned buildings than at commercial building owners.

The service has posted a revenue procedure to give widows and widowers the ability to file for an extension of time on a tax exclusion until the fifth anniversary of their spouse’s death.

The information covers forms for reported excise taxes on certain polluting chemicals and substances.

The Internal Revenue Service issued a revised Audit Technique Guide to help examining agents evaluate the validity of cost segregation studies submitted by taxpayers to substantiate accelerated depreciation deductions.

With gas prices rising, the service announced an unscheduled increase.