Tax regulations

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.

The new rules require that certain syndicated conservation easements must be reported to the IRS.

The program will allow the representatives of a large business to share a mailbox to communicate with Appeals office employees.

Third-party payers like payroll providers can now withdraw claims for individual clients.

The IRS is reminding tax pros and employers that the window for voluntarily disclosing incorrect ERC claims is Nov. 22.