Tax

The American Institute of CPAs has sent a letter to the Multistate Tax Commission recommending changes in a proposed approach to sourcing of partnership income.

The IRS and the Treasury are asking for comments on regulations they plan to propose for a new tax credit for donating to organizations that give scholarships.

Republicans are divided on whether to extend premium tax credits, loathed by the GOP's right flank because of the costs and lingering opposition to former President Obama's legislative achievement.

Understanding the authority, eligibility criteria and automation advantages of the program will be essential for firms representing clients before the IRS.

In Notice 2025-69, the IRS and the Treasury offer clarifications and examples of how to claim the One Big Beautiful Bill Act deductions.

Staff have begun working through the backlog of correspondence and messages, and are expected to begin reaching out to tax pros and taxpayers soon.

The One Big Beautiful Bill Act offers a striking example of how policy design can favor businesses over individual taxpayers, particularly young professionals.

The IRS and the Treasury released interim guidance giving new tax benefits to banks that provide loans secured by rural or agricultural real property.

The American Institute of CPAs is urging the IRS not to merge its Office of Professional Responsibility with its Return Preparer Office to avoid confusion.

The issues concern the constitutional division of taxing power, the potential role of Congress in determining trade rules, and costs to businesses and households.