Current Federal Tax Developments

US District Court issues temporary injunction barrijng enforcement of BOI reporting regime, FinCEN responds and Congress passes two not terribly major tax bills.

IRS releases form to optionally use to make a Section 83(b) election as well as extending two relief provsions

IRS to use IP-PINs to help in cases where taxpayers discover a dependent was claimed on another taxpayer's return and more.

Tax Court looks at how to handle a situation where a partner deducted losses in excess of basis in a year no longer open to assessment and more.

This week we look at the rules involving the reconciliation process in Congress, the path that it appears most likely any tax bill enacted to deal with the expiration of many TCJA provisions at the end of 2025.

The IRS releases inflation adjusted retirement plan numbers and an email on dealing with self-employment and net investment income taxes on BBA partnership exams

IRS releases inflation-adjusted numbers, and another US District Court denies a request for an injunction barring enforcement of the BOI reporting requirements.

IRS opens up PTIN registration, staking returns to a Tennessee District Court and more.

Issues confusing CPAs regarding the BOI, including if their own firm needs to file the report.

DOJ schedules hearing on proposal to reschedule marijuana and we review BOI issues that seem to cause confusion.

The IRS announces second ERC Voluntary Disclosure Program and the National Taxpayer Advocates comments on the recent IRS Notices of Disallowances on ERC claims.

A discussion of possible authorities for deductions for specific types of online frauds and the IRS makes announcement on the future of ERC credit processing.

Cloture vote fails on the Senate on House passed tax bill and District Court declines to issue preliminary injunction ordering the IRS to end the ERC credit processing moratorium.

The IRS issues more ERC guidance and FinCEN adds more guidance to their FAQ on BOI reporting.

IRS finalizes regulations on RMDs and clears up the starting point for RMDs for those born in 1958.

A big week for FinCEN BOI reporting developments and another S corporation loses its status due to a failure to file elections for trust shareholders

A review of end of term Supreme Court cases that may bring more Treasury Regulations under challenge in court.

National Taxpayer Advocate states IRS will automatically begin issuing FTA relief, but not until 2026, Ninth Circuit issues a ruling on the statute of limitations and more.

Supreme Court finds 965 transition tax is constitutional, IRS gives update on ERC claim processing and more.

Taxpayer Advocate warns about AI in consumer tax return preparation products, IRS provides last minute estimated tax relief to certain large corporations and more

The Supreme Court decides a key estate tax case for closely held corporate interests, a taxpayer denied IRA relief and more.

IRS announces continuation of Direct File program and issues for electing S corporation status as an LLC.

Another PLR for a missed QSST election, two court cases on misleading silence of a party and more.

IRS discusses ERC exam, tax adviser sues IRS to force the agency to restart ERC claims processing, and more