The IRS issued revenue procedures providing inflation-adjusted depreciation limitations for passenger automobiles, including trucks and vans, placed in service during calendar year 2026 under I.R.C. §280F. The revenue procedure contains ...
The IRS released an updated FAQs on refundability, and special needs determinations made by Indian tribal governments, for the adoption tax credit. The information includes clarifying the tax credit for ...
The U.S. Court of Appeals for the Second Circuit affirmed that the IRS can assess penalties under IRC §6038(b) for failure to report control of a foreign business, vacating and ...
The U.S. Tax Court, in a memorandum decision, held that the taxpayer was not entitled to deduct expenses reported on Schedules C and was liable for accuracy-related penalties, sustaining the ...
The U.S. Court of Appeals for the Sixth Circuit dismissed a taxpayer’s appeal of a Tax Court order for lack of jurisdiction because the Tax Court order was not a ...
The IRS has issued a news release announcing that a new schedule, which taxpayers can use to realize tax benefits of the One Big Beautiful Bill, including no tax on ...
The IRS issued a private letter ruling on I.R.C. §7701 and Treas. Reg. §301.9100, granting a foreign entity 120 days to file Form 8832 for classification as a disregarded entity ...
The IRS issued a private letter ruling on I.R.C. §1400Z and Treas. Reg. §301.9100, granting the taxpayer an extension of time to file Form 8996 for self-certification as a qualified ...
The IRS issued a private letter ruling on I.R.C. §42 and Treas. Regs. §301.9100 granting taxpayer a 120-day extension to file an amended Form 8609 to make the average income ...
The IRS has issued a private letter ruling on I.R.C. §1400Z-2 and Treas. Reg. §301.9100 granting an extension of time for taxpayer to self-certify as a qualified opportunity fund (QOF) ...
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