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The November 26, 2018, release by the Internal Revenue Service of proposed regulations (REG-106089-18) related to IRC § 163(j) has provided some clarity for federal income taxpayers. But the regulations’ treatment of federal consolidated groups gives...

The Internal Revenue Service has announced that the standard mileage rate for business miles will decline 3.5 cents per mile to 54 cents per mile as of January 1, 2016. The California Workers’ Compensation Institute notes that this means the mileage...

On March 11, 2015, the Internal Revenue Service (IRS) issued Notice 2015-25, which updates its prior guidance to reflect the extension of the beginning of construction deadline for the PTC and ITC made by the Tax Increase Prevention Act of 2014 (TIPA...

WASHINGTON, D.C. — (Mealey’s) Both sides faced critical questioning from Justice Anthony Kennedy during oral arguments March 4 in the case challenging the availability of subsidies in the Patient Protection and Affordable Care Act (ACA) federal...

INDIANAPOLIS — (Mealey’s) A state and 39 school districts challenging the legality of payments imposed on large employers under the Internal Revenue Services’ implementation and interpretation of Patient Protection and Affordable Care...

By Jonathan M. Calpas and Edward I. Leeds The Internal Revenue Service recently released draft versions of the forms that will be used to meet the shared responsibility reporting requirements under the Affordable Care Act (ACA). These draft forms have...

Christopher B. Berg of Portola Valley, California, has been sentenced to one year and one day in prison to be followed by three years supervised release after pleading guilty to willfully failing to file the required report of foreign bank account for...

"The Internal Revenue Service today warned consumers about a sophisticated phone scam targeting taxpayers, including recent immigrants, throughout the country. Victims are told they owe money to the IRS and it must be paid promptly through a pre...

"The Internal Revenue Service today sounded another warning for taxpayers to guard against sophisticated and aggressive phone scams targeting consumers, particularly recent immigrants. Potential victims are threatened with deportation, arrest, having...

" Americans are outraged when tax laws and revenue agents bite them, but seem scantly or not at all troubled when our immigration laws and their bureaucratic enforcers devour people and property rights. No doubt this disparity of concern proves the...

On this edition, Leslie Schneider of Ivins, Phillips & Barker, Chartered, discusses the status of last-in-first-out (LIFO) tax accounting and international financial accounting standards (IFRS). Mr. Schneider also analyzes the treatment of sales-based...

By Karen Yip, LexisNexis Federal & International Tax Analyst The IRS requires the Report of Foreign Bank and Financial Accounts, TD F 90-22.1 (commonly known as the Foreign Bank Account Report, or "FBAR"), when a U.S. person has a financial...

By Karen Yip, LexisNexis Federal & International Tax Analyst The IRS requires the Report of Foreign Bank and Financial Accounts, TD F 90-22.1 (commonly known as the Foreign Bank Account Report, or "FBAR"), when a U.S. person has a financial...

In a decision that could dramatically change collection due process, the First Circuit Court of Appeals held that the standard of review applied to collection due process cases by the Tax Court for more than a decade is incorrect. In Dalton v. Commissioner...