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IRS EXTENDS DEADLINES FOR SELECT RETIREMENT PLANS

With all the attention focused on the stimulus bill, paid leave, and sick leave by Congress, it’s easy to overlook the IRS’s role in assisting

IRS Requires E-filing of Form 1023, Application for Tax Exemption Under Section 501(c)(3)

On January 31, 2020, Revenue Procedure 2020-08 (Procedure) was released by the Internal Revenue Service. The Procedure requires the filing of Form 1023,

IRS Releases Proposed Regulations on State and Local Tax Credit Workarounds

On December 13, 2019 the IRS released proposed regulations REG-107431-19 on how to treat contributions made to a charity in return for state and local

Delay of Game: IRS Postpones Partner Tax Basis Capital Reporting Requirement to 2020

On December 10, the IRS issued Notice 2019-66, providing guidance on various partnership reporting requirements for the 2019 tax year. Most noteworthy,

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Knock, Knock. Who’s there? Tips for determining if it’s really the IRS at your door.

A man walks through the front door of your business claiming he is an IRS agent and demanding that you pay immediately for an overdue tax bill. Your breathing

Proposed Regulations Issued on Source of Income for Certain Sales of Personal Property

The Treasury Department and Internal Revenue Service recently released proposed regulations (REG-100956-19) that modify the rules for determining the source

Fraud Detection Filters Causing Delays in Some IRS Refunds

The IRS continues to place premium importance on the prevention of identity theft and non-identify theft refund fraud, but its implementation of process

IRS Requests Public Comment on Forms 3520 and 3520-A, Reporting of Foreign Gifts and Trusts

The IRS requested public comment regarding two reporting forms used by taxpayers in reporting for foreign gifts and trusts, Form 3520 and Form 3520-A.

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“Parking Tax” Repealed, But Still No Guidance on How to Claim Refunds

On December 20, 2019, the Taxpayer Certainty and Disaster Tax Relief Act of 2019 (Act) repealed Internal Revenue Code Section 512(a)(7). Implemented as

Syndicated Conservation Easements Create Ire in the IRS

On November 12, the IRS sounded renewed alarms for those taxpayers that, in the IRS’s view, are abusing the tax benefits associated with conservation

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