GOP fractures over how much debt to run up for tax cuts
Ultra-conservatives in the House are threatening to block a budget blueprint to kickstart tax cut negotiations, potentially delaying passage of Trump’s economic plan.
Acting IRS Commissioner Krause to resign
Acting IRS Commissioner Krause reportedly intends to resign following a deal with the Department of Homeland Security to use IRS data for immigration enforcement purposes.
Tax Court weighs risk and the R&D credit
In two recent cases, the court looked to local law for the first time in research funding analysis.
Lawmakers reintroduce bill to expand tax credits for affordable housing
A group of over 100 lawmakers reintroduced legislation in the House to expand and strengthen the Low Income Housing Tax Credit.
In the blogs: Sweet liberty
Change is not at hand; a question for brokerages; the IRS Simple Installment; and other highlights from our favorite tax bloggers.
DOGE planning to centralize IRS data under one API
Elon Musk’s Department of Government Efficiency reportedly plans to centralize all IRS data around a single portal and will begin efforts next week with a “hackathon.”
Taxpayers in disaster areas get May 1 deadline
Individuals and businesses in a dozen states hit by natural disasters in 2024 will have at least a few extra weeks to file their taxes or ask for an extension.
Group asks for extension on micro-captive reporting to IRS
The 831(b) Institute sent a letter requesting an extension on a deadline for disclosing information about transactions that the IRS views as tax shelters.
IRS employees face further staff reductions
Internal Revenue Service employees are being offered a last chance for a voluntary buyout as the Supreme Court blocked a ruling requiring the IRS to rehire workers.
Ensure your next acquisition is the right match
As M&A rebounds in 2025, dealmakers should conduct a thorough cultural assessment to make sure potential acquisitions are the right fit.