Tax

Employers remain in a holding pattern through 2014 regarding a provision of the Affordable Care Act that the Internal Revenue Service is not yet enforcing.

The IRS Return Preparer Office has updated total numbers of federal return preparers who hold PTINs.

A coalition of a half dozen business organizations, including the American Institute of CPAs, have banded together to express their opposition to a proposal from the Senate Finance Committee to require businesses to use the accrual method of accounting for tax purposes.

Refundo, a provider of low-cost tax-related bank products, has inked a deal with “socially responsible” San Francisco-based lender LendUp to couple short-term loans with Refundo's refund-processing platform for tax professionals.

The National Underwriter Co., a publisher of tax, insurance and financial planning information, has released the newest addition to its Tax Facts reference library, Tax Facts on Individuals & Small Business.

Thomson Reuters has released a retrospective report on the key tax developments of 2013, which included a major federal tax law as well as many significant new cases, regulations, rulings and revenue procedures. 

The Internal Revenue Service has released a set of proposed regulations to prevent abuses of the partnership basis adjustment rules, disallowing partnership loss transfers to avoid some of the abuses uncovered by the Enron scandal.

The Internal Revenue Service has decided to postpone a change it had planned for this year to limit the number of e-file signature authorization documents for filing Form 1041 estate and trust tax returns to a single 1041 return rather than multiple returns.

The plaintiffs who lost a recent lawsuit trying to prevent the federal government from providing tax credits to purchase health insurance on federal exchanges have filed for an expedited appeal in the case.

Even though tax season for individual tax returns has been delayed until January 31, the Internal Revenue Service and the Free File Alliance are opening up free electronic filing for taxpayers with adjusted gross incomes of $58,000 or less.