Treasury and IRS Issue Final Regulations on e-file for Businesses
The U.S. Treasury Department and the IRS recently issued final regulations T.D. 9972, amending the rules for filing returns and other documents electronically.
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Treasury and IRS Provide Interim Guidance on Alternative Minimum Tax
The U.S. Treasury Department and the IRS recently issued Notice 2023-20, providing interim guidance for insurance companies and certain other taxpayers for the new corporate alternative minimum tax until proposed regulations are issued.
View MoreIRS Announces Online Upload Option Now Available for 9 Notices
The IRS recently announced that taxpayers who receive certain notices requiring them to send information to the IRS now have the option of submitting their documentation online through IRS.gov.
View MoreTreasury and IRS Provide Guidance on Energy Program Credits
The U.S. Treasury Department and the IRS recently published guidance following the enactment of the Inflation Reduction Act to establish a program to provide solar and wind power to certain low-income areas and a program to allocate credits for qualified investments in eligible qualifying advanced energy projects.
View MoreIRS To Allow Direct Deposit for Electronically Filed Amended Returns
As part of its efforts to improve services for taxpayers, the IRS recently announced that people electronically filing their Form 1040-X, Amended U.S Individual Income Tax Return, will for the first time be able to select direct deposit for any resulting refund.
View MoreIRS Announces Saturday Hours at Many Taxpayer Assistance Centers
As part of a continuing effort to improve service this tax season, the IRS announced special Saturday hours for the next four months at Taxpayer Assistance Centers across the country.
View MoreIRS Issues Guidance and Updates FAQs on Commercial Clean Vehicle Credits
The IRS recently issued Notice 2023-16, modifying the definitions of certain vehicle classifications for the new, previously owned and qualified commercial clean vehicle credits.
View MoreTennessee Department of Revenue Revises Position on FDII
In a recently published overview of upcoming updates to its Franchise and Excise Tax Manual, the Tennessee Department of Revenue stated it has revised its position on foreign-derived intangible income.
View MoreIRS Opens Online Portal for Filing Form 1099 Information Returns
The IRS recently announced that businesses can now file Form 1099-series information returns using a new free online portal called the Information Returns Intake System.
View MoreIRS Issues Increased Passenger Auto Depreciation Limitations
The IRS recently released Rev. Proc. 2023-14, issuing sharply higher new depreciation limitations for passenger automobiles for the second consecutive year.
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