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The IRS issued final regulations (T.D. 9691) on Aug. 27, 2014, related to the application of Section 1092 and the regulations thereunder to debt instruments.

The IRS has proposed regulations (REG-134042-07) relating to basis in an S corporation resulting from indebtedness of the corporation to its shareholders.

As the 2014 tax filing season progresses the Internal Revenue Service has issued warnings to taxpayers about convincing fraudulent email messages and telephone calls seeking payments or personal information that will enable the scammer to directly or indirectly steal from the victim.

An IRS internal legal memorandum (ILM 201432015) released Aug. 8 came to a favorable conclusion for startup companies with Section 382 concerns.

The IRS on Aug. 24 updated the Internal Revenue Manual (IRM) to reflect changes to the way the Appeals Division functions, In Notice 2016-59, the IRS provided changes to Rev. Proc. 2016-1.

IRS Acting Commissioner Danny Werfel named Peggy Sherry IRS deputy commissioner for operations support. Sherry will start her new role on Nov. 4 and will replace Beth Tucker, who retired at the end of September.

The IRS has announced administrative relief both for victims of severe April storms in the South and Midwest, and for taxpayers affected by the explosions at the Boston Marathon.

We previously advised about significant uncertainties that exist with respect to the recently revised Form TD F 90-22.1, Report of Foreign Bank and Financial Accounts and related instructions (the FBAR) (most significantly, with regard to whether U.S. persons who hold interests in offshore hedge funds or offshore private equity funds are required to file FBARs with respect to such interests).

Tax Analysts Tax Notes reports that the IRS Small Business/Self-Employed Division's special enforcement program will soon begin examining U.S. taxpayers suspected of holding undeclared accounts in Indian banks.

The IRS has posted a notice that their online service to apply for EINs will be unavailable from about 3pm EST Dec. 27, 2024, to 7am EST Jan. 2, 2025. During that time, we will not be able to apply for EINs.

The Treasury Department has proposed certain changes to the retail inventory method pursuant to the regulations under I.R.C. § 471.

On August 2, 2016, the Internal Revenue Service and the Treasury Department issued proposed regulations intended to substantially limit the use of discounts in valuing intra-family transfers...

Previously, the IRS granted most taxpayers an extension until July 15, 2020 to file returns and pay federal income taxes originally due on April 15

Taxpayers had no definitive guidance as to whether a charitable contribution to a disregarded LLC owned by a charity would entitle the donor to a federal income tax charitable deduction.

On January 17, 2017, Treasury released an advance copy of Notice 2017-15. While taxpayers who paid gift tax and/or GST tax when making a taxable gift to a same-sex spouse still cannot obtain a refund ...

The IRS recently issued Announcement 2016-27, which provides guidance on which jurisdictions are treated as if they have an intergovernmental agreement (IGA) in effect...

The IRS issued the 2013 cumulative list of changes in plan qualification requirements that are intended for use by plan sponsors of Cycle D individually designed qualified retirement plans and multiemployer plans for the second submission under the remedial amendment cycle described in Rev. Proc. 2007-44.