ERC Processing Among 10 Most Serious Problems Faced By Taxpayers – NTA (IR-2025-4)
National Taxpayer Advocate Erin Collins identified the lengthy processing and uncertainty regarding the employee retention credit as being among the ten most serious problems facing
Guidance on Tax Treatment of Paid Family and Medical Leave Contributions and Benefits Issued (Rev. Rul. 2025-4, IR-2025-16)
The IRS has issued a revenue ruling addressing the federal tax treatment of contributions and benefits under state-administered paid family and medical leave (PFML) programs.
Guidance on Covered Gifts and Bequests Issued (T.D. 10027)
Regulations under Code Sec. 2801, which imposes a tax on covered gifts and covered bequests received by a citizen or resident of the United States from
Final Regulations Identify Partnership Basis Shifting Transaction as Reportable Transactions (T.D. 10028; IR-2025-6)
The IRS has issued final regulation identifying certain partnership related-party basis adjustment transactions as transactions of interest (TOI), a type of reportable transaction under Reg. §1.6011-4.
IRS Updates Guidance on Section 530 Relief for Employee Status Controversies (Rev. Proc. 2025-10)
The IRS has provided updated guidance on the implementation of section 530 of the Revenue Act of 1978 (P.L. 95-600), as amended, regarding controversies involving
IRS Updates FAQs on Energy Credits (FS-2025-1; IR-2025-17)
The IRS issued updates to frequently asked questions (FAQs) about the Energy Efficient Home Improvement Credit (Code Sec. 25C) and the Residential Clean Energy Property
Final Regulations Issued for Clean Hydrogen Production Credit and Energy Property Election (TD 10023)
The IRS has released final regulations implementing the clean hydrogen production credit under Code Sec. 45V, as well as the election to treat a clean hydrogen
Final Regulations Address Digital Asset Sale Information Reporting by Front-End Brokers; Related Transitional Relief Provided (T.D. 10021; Notice 2025-6)
The Treasury and IRS have issued final regulations that provide rules for classifying digital and cloud transactions. The rules apply for purposes of the international
FinCEN Keeps BOI Reporting Voluntary Despite Supreme Court Ruling On Injunction
The Financial Crimes Enforcement Network is keeping beneficial reporting information reporting voluntary even though the Supreme Court has lifted the injunction that was put in
IRS Hiring, OECD Agreement Targeted In Day One Executive Orders
President Donald Trump targeted federal hiring, including specific rules for the Internal Revenue Service, and the United States’ participation in the global tax framework being
Partnerships Get More Time to Furnish Form 8308 for 2024 Section 751(a) Exchanges, Notice 2025-2
The IRS has provided relief from the failure to furnish a payee statement penalty under Code Sec. 6722 to certain partnerships with unrealized receivables or inventory items
Final Regs Define “Energy Property” for Energy Investment Credit, TD 10015
Final regulations defining “energy property” for purposes of the energy investment credit generally apply with respect to property placed in service during a tax year
