The IRS issued proposed rules that provide maximum automobile values for the cents-per-mile and fleet-average valuation rules used to…
Underpayment penalty relief now automatic for eligible filers
Some taxpayers who paid 2018 underpayment penalties will receive refund checks because the penalties will be automatically waived for…
Alimony tax gap swells to $3.2 billion, TIGTA finds
Discrepancies between the amount of alimony deducted by payers and reported as income by its recipients increased by 38%…
Rules proposed for classifying cloud and digital content transactions
The Internal Revenue Service proposed regulations to clarify how to classify transactions involving digital content and cloud computing. Source:…
IRS changes its third-party contact procedures
The IRS issued updated procedures for third-party contacts to reflect changes enacted in the recent Taxpayer First Act, requiring…
Federal court rejects change to substantial-donor reporting requirement
If the IRS wishes to no longer require tax-exempt organizations to report information about their substantial financial donors, it…