This week we look at:  IRS reduces PTIN fees substantially Wash sale rules do not apply to losses on disposition of money market funds IRS highlights new capabilities added to TaxPro accounts Employers can set up leave-based donation programs for 2023 Hawaii wildfire relief FinCEN grants 60 additional days for entities created in 2024 to file initial reports 

2023-10-02 Limited Delay in Some CTA BOI Initial Report Filing Dates

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This week we look at:  Final regulations issued on credit transfer provisions of the Inflation Reduction Act Tax Court rules the law does mandate a minimum level of attention by a supervisor when approving a proposed penalty IRS announces the end of the Direct File pilot and will announce the next steps shortly  Copyright 2024, Kaplan Financial Education

2024-04-29 No Minimum Attention Required for Supervisor Approval of Penalties per Tax Court

This week we look at:  IRS again waives penalties for certain RMD distributions for inherited IRAs and retirement plans, but indicates this should be the last time FinCEN adds more Q&As; to BOI FAQ for the first time since January  Copyright, Kaplan, Inc.  

2024-04-22 IRS Extends Limited RMD Relief But Warns They Expect This to Be the Last Time

This week we look at  Tax Court reverses position on validity of a regulation it had upheld four years ago US Supreme Court hears oral arguments in case involving estate tax value of a corporation that received life insurance to redeem the majority shareholder’s estate IRS Criminal Investigation Divisions announces update on COVID relief related investigations and convictions 

2024-04-01 Tax Court Reverses Position on Validity of Conservation Easement Regulation

This week we look at:  As ERC voluntary compliance program ended, IRS release discusses agency’s plans going forward Senate Finance Chair Wyden indicates there be a cloture vote in the Senate on House passed tax bill IRS issues proposed regulations to make SPA CRAT arrangements listed transactions IRS asks Supreme Court to overturn Culp decision 

2023-10-02 Limited Delay in Some CTA BOI Initial Report Filing Dates

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