The IRS routinely monitors abusive tax transactions. If a particular transaction becomes more prevalent, the agency identifies it as a “listed transaction,” requiring self-reporting by taxpayers (IRS ...
Working Americans’ favorite time of year has finally come to pass – tax return season. But of course, this time filing taxes will likely have a “fun” new twist: 1099-Ks mistakenly sent out following a ...
Controversial bank transaction reporting provision absent from pared down $1.75T Biden spending plan
ADAM: A CONTROVERSIAL PROPOSAL THAT WOULD SEND THE IRS MASSIVE AMOUNTS OF INFORMATION ABOUT THE FINANCIAL TRANSACTIONS OF ALMOST EVERY AMERICAN, APPEARS HEADED FOR THE DUSTBIN AS DEMOCRA ITSN ...
Certain micro-captive transactions are back to being reportable. On January 14, 2025, the Treasury Department and the Internal Revenue Service (“IRS”) published final regulations (the “Regulations”) ...
The various forms of information reporting required by the Internal Revenue Code form the backbone of both voluntary compliance with tax laws and the starting point for audits by the Internal Revenue ...
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