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Manchin Announcement Makes Passage of Tax Increases This Year Much Less Likely
Taxation
Late last week, Sen. Joe Manchin (D-W.Va.) said that he would not agree to President Joe Biden’s proposed economic…
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TIGTA to Investigate Intensive Audits of Comey and McCabe
Taxation
The IRS has asked the Treasury Inspector General for Tax Administration (TIGTA) to look into how former FBI Director James…
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Recipients of Digital Assets Must Report Senders' Identity to IRS Starting in 2024, or Face Penalties or Criminal Charges
Taxation
A little-known provision of the infrastructure law passed last November will, starting in 2024, require certain taxpayers…
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Lax Gatekeeping Has Led IRS to Approve Host of Fake Charities as Tax-Exempt
Taxation
A fast-track application system introduced in 2014 has led the IRS to approve a large number of fake charities as…
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IRS to Require New Electronic Fingerprinting Process for Practitioners’ E-file Applications
Taxation
The IRS has notified tax practitioners that, as of Sept. 25, it will require a new electronic fingerprinting process for…
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Issuing Her Midyear Report, Taxpayer Advocate Says Backlog 'Is Still Crushing the IRS'
Taxation
Issuing her midyear report to Congress, National Taxpayer Advocate Erin M. Collins expressed dismay over the IRS’s…
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Report: Bitcoin Yields $30B in Capital Gains Annually, But Collecting Taxes Proves Challenging
Taxation
A recently issued report has found that U.S. holders of Bitcoin realize capital gains from the cryptocurrency amounting to…
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Prospect for Passage of Several Tax-Related Bills This Year Remains Uncertain
Taxation
As 2022 approaches its midpoint, there remains great uncertainty about the prospects for the passage of Build Back Better…
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GAO Report: In Wake of ‘Wayfair,’ Differing State Requirements for Sales Tax Collection Present Challenges for Businesses
Taxation
A report issued Tuesday by the Government Accountability Office (GAO) found that after the 2018 Supreme Court decision…
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