Federal Tax Headlines

1975

Final, Temporary and Proposed Regs. Address Deduction for Qualified Film and Television Production Costs (T.D. 9552, NPRM REG-146297-09)

The IRS has issued final, temporary and proposed regulations relating to deductions for the cost of producing film and television productions. The temporary regulations reflect changes to the law made by the Tax Extenders and Alternative Minimum Tax Relief Act … Continue reading Continue reading Continue reading Continue reading Continue reading Continue reading Continue reading Continue reading Continue reading Continue reading Continue reading Continue reading Continue reading

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IRS Commissioner Warns that Proposed IRS Budget Cuts “Would Lead to Noticeable Degradation of Both Service and Enforcement”

IRS Commissioner Douglas H. Shulman wrote in an October 17 letter to the congressional tax-writing and appropriations committees that proposed cuts in the IRS fiscal year (FY) 2012 budget of half a billion dollars or more “would lead to noticeable … Continue reading Continue reading Continue reading Continue reading Continue reading Continue reading Continue reading Continue reading Continue reading Continue reading Continue reading Continue reading Continue reading Continue reading Continue reading Continue reading Continue reading Continue reading Continue reading Continue reading Continue reading Continue reading Continue reading Continue reading Continue reading Continue reading

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Draft Instructions Released for Reporting Foreign Financial Assets

The IRS has released draft instructions to Form 8938, Statement of Specified Foreign Financial Assets, which describe who must report ownership of foreign assets above a certain threshold under the Foreign Account Tax Compliance Act (FATCA) (P.L. 111-147). A draft … Continue reading Continue reading Continue reading Continue reading Continue reading Continue reading Continue reading Continue reading Continue reading Continue reading Continue reading Continue reading Continue reading Continue reading

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