Tax regulations

Erin Collins is objecting to proposed regs that would enable the IRS to shorten its third-party notice requirements from 45 days to as little as 10.

The final regulations provide a long overdue update to rules that had been in place since at least the 1950s, and even the 19th century.

The Internal Revenue Service has decided to stop automatically levying penalties when a taxpayer files a form reporting foreign gifts too late.

The Internal Revenue Service set the credit at $1.25 to $1.75 per gallon of fuel with a minimum reduction of 50% of GHGs.

The Biden administration finalized rules for a 25% tax credit for semiconductor manufacturing projects, including solar wafers.

The IRS is reminding tax pros to register for or renew their professional ID number by Dec. 31.

The Supreme Court decision in Loper Bright has broad implications for the tax regulations written and administered by the Treasury and the IRS as well as the agencies tasked with the regulation of the alternatives industry.

The Internal Revenue Service says it is processing some 400,000 claims for the Employee Retention Credit, representing about $10 billion of eligible claims.

The IRS and the Treasury proposed regs on the corporate alternative minimum tax on companies with over $1 billion in income, but those rules could impact much smaller companies as well.

The American Institute of CPAs sent a comment letter to the Treasury Department and the Internal Revenue Service objecting to guidance on basis-shifting involving partnerships and related parties.