— The IRS today issued guidance on the income and employment tax treatment of contributions and benefits paid in certain situations under a state paid family and medical leave program, as well as the related reporting requirements. Rev. Rul. 2025-4 provides guidance to the District of Columbia and states that have mandatory paid family and medical leave programs and for employees working in and employers operating in those states.
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— As tax filing season nears, the Internal Revenue Service reminds businesses to submit wage statements and certain information returns to the federal government by Jan. 31.
— The Internal Revenue Service today announced three pilot programs that will test changes to existing Alternative Dispute Resolution (ADR) programs.
— The Internal Revenue Service today announced the appointment of 18 new members to the Internal Revenue Service Advisory Council.
— The IRS and partners in the Coalition of Scam and Scheme Threats (CASST) today released changes for the 2025 filing season designed to help protect taxpayers from becoming victims of a scam or scheme and preventing tax professionals from having their credentials compromised.
— The Department of the Treasury and the Internal Revenue Service today issued proposed regulations for corporate separations and reorganizations, including reporting requirements for multi-year corporate separations.
— The Internal Revenue Service announced today tax relief for individuals and businesses in southern California affected by wildfires and straight-line winds that began on Jan. 7, 2025.
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New pilot programs involve fast-track settlements and post-appeals mediation.
The regulations provide guidance on determining who is one of the “five highest compensated employees” under Sec. 162(m)(3)(C).
The IRS said it used feedback from tax advisers to write the proposed regulations, which include new multiyear tax reporting requirements.
The final regulations, posted by the IRS on Tuesday in the Federal Register, identify certain microcaptive transactions as reportable listed transactions or transactions of interest.
The proposed regulations provide guidance to plan administrators on implementing the automatic enrollment requirement established by the Secure 2.0 Act.
In response to the Justice Department’s application for a stay of a district court injunction related to beneficial ownership information reporting, the plaintiffs claim that staying the injunction would harm reporting companies more than it would help the government.
IRS Commissioner Danny Werfel said he expects the 2025 filing season to build on the success of the two previous seasons if Congress maintains funding.
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The Justice Department said the company misrepresented its credit card rewards and fees and made false claims about the tax benefits of its wire transfer products.By Tara Siegel Bernard
The owners of Honor Family Market are ready to retire. A buyer would face the tight margins of a small business and competition against the giant chains and discount stores.By Keith Schneider
The Federal Trade Commission’s decision to stop enforcing the Robinson-Patman Act is killing grocery stores in low-income communities.By Alvaro Bedoya
The owners began their businesses with no college degrees and 100 percent grit. A visit from the TikTok food critic Keith Lee also helped.By Mercedes Lilienthal
My story is one small part of an ongoing struggle for restaurant workers and culinary culture.By Yannick Benjamin
After decades of meteoric success, this year marked the first time since 2005 that more breweries closed than opened.By Joshua M. Bernstein
Billy Long worked with Lifetime Advisors, a company that solicited clients to claim a pandemic-era tax credit that the I.R.S. said became a magnet for fraud.By Andrew Duehren
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If you can leverage a marketing philosophy in your business, you can use it to unlock so much more potential.
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Trump's promised tax cuts, and their potential consequences for the U.S. economy, took center stage at Bessent's confirmation hearing.
It's the first time since May 2024 that 30-year mortgage rates have hit that mark. High rates are adding to the affordability challenges many Americans are facing.
Hino Motors will plead guilty to submitting false emissions data to regulators for more than 100,000 heavy-duty trucks. The company will pay an array of fines, and fix some affected vehicles for free.
Outgoing FCC chairwoman Jessica Rosenworcel has rejected petitions to rebuke four local TV stations. She says they were efforts to punish broadcast networks' coverage of presidential politics.
The agency is seeking civil penalties against Southwest Airlines, and also fined Frontier Airlines for its continuous delays.
The Southern California wildfires are devastating large swathes of Los Angeles, destroying homes and businesses and displacing thousands. In the state's strained insurance system, homeowners who can't get fire coverage from traditional insurers are left with just one option—the FAIR Plan.
Named after the first American to orbit Earth, the New Glenn rocket blasted off from Florida, soaring from the same pad used to launch NASA's Mariner and Pioneer spacecraft a half-century ago.