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IRS gives another limited estimated corporate AMT underpayment waiver

The IRS issued a notice extending earlier relief for a corporation’s failure to pay the part of estimated income tax attributable to the revised corporate alternative minimum tax.

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9 months into ERC claim processing moratorium, still a waiting game

New employee retention credit (ERC) claims continue to be filed, and the IRS still has a backlog of claims from before a processing moratorium was announced in September. National Taxpayer Advocate Erin Collins says “soon” is the answer to when the moratorium will end. Meanwhile, some business owners sit and wait.

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National taxpayer advocate: TikTok a difficult adversary for IRS

Speaking at ENGAGE, Erin Collins asks: How does the IRS fight bad tax advice on TikTok when employees are not supposed to access it?

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Supreme Court: Insurance proceeds increase corporation’s estate tax value

In a unanimous decision, the Supreme Court holds that life insurance proceeds a corporation receives to fund a share redemption agreement increases the corporation’s estate tax value.

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Expert warns: IRS has what it needs to pursue more audits

A speaker at AICPA & CIMA ENGAGE tells attendees that the IRS is paying higher salaries to attract midcareer workers as the agency increases audits.

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Bias possible in IRS program for auditing refundable credit returns

The IRS said it agrees with the six recommendations from the Government Accountability Office to eliminate the bias.

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IRS free filing program to become permanent with expanded scope

Commissioner Danny Werfel said the successful pilot program of Direct File encouraged the IRS to make the program available in all states and the District of Columbia.

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Hansen Hunter announces partnership focused on accelerating growth

Hansen Hunter (“HH”) announced today that it has partnered with Water Street Healthcare Partners, a strategic investor dedicated to building market-leading businesses in healthcare, to advance its goals for growth.

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AICPA makes recommendations to IRS on next Priority Guidance Plan

In addition to the guidance on the plan, the letter recommends that Treasury and the IRS continue pursuing tax simplification.

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Regulations finalize PTIN fees for tax return preparers

The IRS was required to reduce the charge for preparer tax identification numbers after a federal court found the previous amount excessive. The final regulations adopt the text of interim final and proposed regulations issued in 2023 without change.

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