Tax laws

Scott Bessent, President-elect Donald Trump's pick to serve as Treasury secretary, is aiming to build support for his nomination

The Internal Revenue Service extended its transition relief for the new Form 1099-K information reporting threshold.

The GOP defeated Banking Chairman Sherrod Brown in Ohio, fended off an unexpectedly tough challenge to Nebraska' Deb Fischer and picked up the open Senate seat in West Virginia.

The Ways and Means Committee advanced five tax-related bills, including one that would eliminate a requirement to report payments of $600 from third-party networks.

Tax targets; getting creative; one SALT workaround; and other highlights from our favorite tax bloggers.

Post-Chevon; sending your marketing out; new blog in town; and other highlights from our favorite tax bloggers.

Welcome, 1099-DA; moving out and moving on; not all CRM is alike; and other highlights from our favorite tax bloggers.

A new analysis of 110 years of state-level tax policies shows a migration of wealthy Americans to low-tax jurisdictions.

The ability to write off research and development expenses in the first year would be revived if the Senate ever manages to pass the Tax Relief for American Families and Workers Act.

A new analysis forecasts a higher return on investment from the Inflation Reduction Act of 2022, but only if the funding isn't reduced.

What do these changes mean for taxpayers and how can accountants help manage the impact?

The Internal Revenue Service has extended some of the deadlines for qualified intermediaries, withholding foreign partnerships and withholding foreign trusts.

The lower 1099-K threshold will produce millions more forms to be sent to taxpayers, and may prompt many to abandon online marketplaces and gig economy jobs.

A short window won't necessarily stop lawmakers from proposing or introducing new legislation, though — if only to position themselves ahead of next November's election.

The legislation incentivizes consumers to buy energy-efficient electric appliances, clean vehicles, rooftop-solar and home energy storage systems.

Commissioner Werfel encouraged Congress to keep the money coming.

The service is trying to leverage the extra funding to collect more taxes, but has spent surprisingly little so far.

The service has been working hard to implement the dozens of tax provisions contained in last year's Inflation Reduction Act, according to a new report.

On his way to law school, Jimmy Chilimigras broke an eight-year record by becoming the youngest student ever to pass the CPA exam.

Global corporations are hoping to fend off requirements for reporting on the amount of taxes they pay in each jurisdiction, while regulators are moving forward cautiously with imposing such rules.