Taxes February 6, 2026
IRS Issues Proposed Rules on Clean Fuel Tax Credit
The Treasury Department and the IRS released proposed regulations Feb. 3 on the clean fuel production credit under the One Big Beautiful Bill Act.
Taxes July 1, 2024
IRS to Pot Businesses: Marijuana is Still a Schedule I Controlled Substance
Therefore, cannabis businesses are still unable to claim normal business tax deductions, as IRC Section 280E stipulates.
Taxes June 27, 2024
IRS Offers to Settle With Certain Tax Avoidance Scheme Participants
The agency is looking to settle with some taxpayers under audit who participated in syndicated conservation easement deals.
IRS June 26, 2024
IRS Paid Out $88.8M to Whistleblowers in FY 2023
The agency gave whistleblowers 121 awards for information attributable to $338 million in tax revenue being collected in fiscal year 2023.
Taxes June 26, 2024
4 Key Takeaways From the National Taxpayer Advocate’s Mid-Year Report to Congress
While the 2024 filing season generally ran smoothly, there are still several challenges impacting taxpayers, Erin Collins says.
Taxes June 25, 2024
IRS Says Sorry to Ken Griffin for Tax Data Leak
The IRS apologized to the billionaire founder of Citadel for failing to protect his tax information from being leaked to the press.
IRS June 24, 2024
Number of the Day: $5.7 Billion
As of March 31, the IRS has spent $5.7 billion, or 10%, of the $57.8 billion it will receive from the Inflation Reduction Act, TIGTA says.
Taxes June 21, 2024
Majority of Outstanding High-Risk ERC Claims Expected to Be Rejected
The review involved months of digitizing information and analyzing data since last September to assess a group of more than 1 million Employee Retention Credit (ERC) claims representing more than $86 billion filed amid aggressive marketing last year.
Taxes June 21, 2024
IRS Offers Guidance on Exceptions to Tax on Early Emergency Retirement Distributions
A taxpayer is permitted to receive a distribution from an applicable eligible retirement plan to meet unforeseeable or immediate financial needs relating to necessary personal or family emergency expenses.
IRS June 20, 2024
IRS Sees Red Flags for ‘Vast Majority’ of ERC Claims
At least 70% of ERC claims currently awaiting processing have red flags about their accuracy, IRS Commissioner Danny Werfel said.
Taxes June 18, 2024
Treasury Finalizes Rules on Clean Energy Prevailing Wage, Apprenticeships
Clean energy project managers must meet the prevailing wage and apprenticeship requirements to receive increased tax credits.
IRS June 18, 2024
IRS Releases FAQs on Sec. 127 Educational Assistance Programs
If provided under an educational assistance program, certain educational assistance benefits can be excluded from gross income.
Taxes June 17, 2024
IRS Plans to Stop Basis Shifting Transactions
Cracking down on this tax loophole used by the wealthy could raise more than $50 billion in revenue over 10 years, Treasury said June 17.