IRS

Significant changes to the way partnerships (including multi-member LLCs) are taxed for federal income tax purposes in 2018 affected more partnerships than originally anticipated. The Bipartisan Budget Act of 2015 allows the Internal…

More partnerships than first thought were affected by significant changes in how partnerships (including multi-member LLCs) are treated for federal income tax purposes in 2018. Because of the Bipartisan Budget Act of 2015, the IRS is now…

According to an article written by Catherine Rampell for the Washington Post and including images taken by Matthew Busch, the decision to provide the Internal Revenue Service with an additional $80 billion was far more than was required.…

You are likely to hear a lot more about the impending receipt of a substantial sum of money by the Internal Revenue Service (IRS) between now and the election in November, and for good reason. The Republican Party enjoys picking fights…

In the letter that he sent to Congress, Rettig said that the $80 billion that will be granted to the IRS as part of the upcoming $740 billion Inflation Reduction Act is money that has been waiting a very long time to receive. He stated…

The bill with the Orwellian name "Inflation Reduction Act" has now been approved by both chambers of Congress and is on its way to the White House to be signed by Joe Biden. The politicians who are responsible for federal deficits of…

Do you remember how Democrats from New Jersey and New York who serve in the House of Representatives made a commitment to vote against a tax-and-spending package if it failed to raise the cap on the amount that can be deducted for state and…

The following is a rundown of the most important guidance issued by the Internal Revenue Service (IRS) and other pertinent tax issues for the week beginning August 8, 2022, and ending August 12, 2022. The Internal Revenue Service (IRS)…