— The Department of the Treasury and the Internal Revenue Service released final regulations that will help certain entities that co-own clean energy projects access clean energy tax credits through elective pay (also commonly referred to as direct pay).
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— As part of International Fraud Awareness Week, the Internal Revenue Service reminds taxpayers how to report tax-related fraud in their community to protect personal and financial information from scam artists and tax schemes.
— The Internal Revenue Service today announced that interest rates will decrease for the calendar quarter beginning Jan. 1, 2025.
— The Internal Revenue Service reminds individual retirement arrangement (IRA) owners age 70½ and older that they can make up to $105,000 in tax-free charitable donations during 2024 through qualified charitable distributions. That’s up from $100,000 in past years.
— The Internal Revenue Service will sponsor a free one-hour webinar designed to help the many businesses that must report their beneficial ownership information to the Treasury Department’s Financial Crimes Enforcement Network.
— The Internal Revenue Service reminds taxpayers that during open enrollment season for flexible spending arrangements (FSAs) they may be eligible to use tax-free dollars to pay medical expenses not covered by other health plans.
— The Internal Revenue Service today released financial information and highlighted selected accomplishments and challenges in its fiscal year 2024 Financial Report.
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Without a delay, “millions of small business owners become accidentally and unknowingly delinquent in their compliance,” reads the letter, signed by CEO Barry Melancon, CPA, CGMA.
National Taxpayer Advocate Erin Collins told the AICPA & CIMA National Tax Conference that the number of unprocessed employee retention credit claims will grow before the final filing deadline in April.
The head of the nonpartisan Committee for a Responsible Federal Budget told the AICPA & CIMA National Tax Conference that extending the Tax Cuts and Jobs Act would add $5 trillion to the national debt.
FinCEN official says the reports “track more closely” with businesses created in 2024, which have a tighter deadline to file than businesses created earlier.
The regulations under Sec. 6335, which had not changed substantially since they were first issued in 1954, did not reflect modern electronic methods of submitting bids and accepting payment from bidders.
The IRS announced inflation-adjusted limits on benefits and contributions for various retirement accounts on Friday, including maximum contribution amounts for 401(k) plans and traditional and Roth IRAs.
The losses occurred over an eight-month period ending in April, according to a report from the Treasury Inspector General for Tax Administration.
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President-elect Donald J. Trump has threatened a tax of at least 60 percent on goods from China — a move with the potential to decimate small American brands.By Jacob Gallagher
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President-elect Trump picked Lutnick, the CEO of investment bank Cantor Fitzgerald, to be his next Commerce Secretary.
Events like the recent dock worker's strike and hurricanes sparked panic buying among American shoppers. Today, a logistics expert helps us craft a shopper's guide for how to navigate a supply chain crisis.
Regulators have slowed the pace of Starship launches over environmental concerns, but that may be about to change.
Chinese immigrants sacrificed to create America's first transcontinental railroad. Its completion may have contributed to a backlash that led to the first major immigration clampdown in U.S. history.
The now-former Fox News host reached a settlement to resolve an accusation against him, but a recently released memo brought the issue back into the public eye.
Spirit Airlines says it will continue flying as it files for Chapter 11 bankruptcy protection. Monday's announcement follows years of losses and a failed merger attempt for the low-cost carrier.
SpaceX and Amazon are asking the Fifth Circuit Court of Appeals to find the National Labor Relations Board unconstitutional. The federal agency is tasked with enforcing workers' right to organize.