Federal Tax Headlines

The IRS’s proposed 50-percent gross income locational rule on the active conduct of Opportunity Zone businesses is garnering criticism from stakeholders and lawmakers alike. The…

The average refund amount at the beginning of the 2019 tax filing season was smaller than this time period last year, a new IRS report…

The Senate approved a bipartisan government spending bill on February 14 by an 83-to-16 vote to avert another partial government shutdown. The minibus spending package,…

A new IRS safe harbor coordinates 100% bonus depreciation with the annual depreciation caps for luxury cars. The long-expected safe harbor lets vehicle owners deduct…

House Democratic tax writers have asked the IRS and Treasury for an update on lower refunds expected during the 2019 tax filing season. However, the…

President Donald Trump is unhappy with a new bipartisan, bicameral spending package drafted to avert another partial government shutdown. Funding for certain federal agencies, including…

Under a new safe harbor, rent and lease income may qualify for the Section 199A passthrough deduction. The safe harbor in Notice 2019-7 is especially…

The Treasury Department is refuting certain claims that the IRS has experienced a significant reduction in tax return filings and refunds. The 2019 tax filing…

The Senate’s top Democratic tax writer is calling on the IRS and Treasury to further waive underpayment penalties for the 2018 tax year. Nearly 30…