Federal Tax Headlines

The 2020 tax season expands  electronic filing requirements for exempt organizations. The Taxpayer First Act requires tax exempt organizations to electronically file information returns and…

Taxpayers must report their investments in Qualified Opportunity Funds (QOF) on new IRS Form 8997, Initial and Annual Statement of Qualified Opportunity Fund (QOF) Investments.…

The SECURE Act as passed at the end of 2019 pushes back the beginning date for required minimum distributions (RMDs).  It also replaces the life-expectancy…

The U.S. Supreme Court may decide who is entitled to a tax refund from a consolidated group’s federal income tax return when the members do…

The IRS is increasing it enforcement actions for syndicated conservation easement transactions. This includes more coordinated examinations across IRS divisions, as well as more criminal…

The IRS has released the final version of the 2020 Form W-4, Employee’s Withholding Allowance Certificate. The final version is little changed from a second…

A fractured Tax Court rejected another constitutional challenge to the law that bars expense deductions for legal marijuana businesses. However, two judges embraced the taxpayer’s…

President Donald Trump on December 20 signed a bipartisan, year-end government spending and tax package just hours before federal funding was set to expire. Trump’s signature…

Recently, Congress enacted legislation that formally requires the IRS to maintain its Office of Appeals (Taxpayer First Act (P.L. 116-25, July 1, 2019). In addition…

IRS efforts to crack down on micro-captive insurance schemes continue after some wins in the U.S. Tax Court. The IRS also recently made a limited…