Attention FAE Customers:
Please be aware that NASBA credits are awarded based on whether the events are webcast or in-person, as well as on the number of CPE credits.
Please check the event registration page to see if NASBA credits are being awarded for the programs you select.

Taxation

  • Despite Assurances About Limited Use of New IRS Funding, Concerns Over Audits Persist

    By:
    S.J. Steinhardt
    |
    Sep 15, 2022
    The $80 billion in additional funding allotted to the IRS by the Inflation Reduction Act aims to provide better customer service and enforcement, among other things. But some  finance professionals and politicians are concerned about the possibility of increased audits.
  • Sinema Now Supports Climate and Tax Bill, But With Removal of Provision Closing Carried Interest Loophole

    By:
    Ruth Singleton
    |
    Aug 5, 2022
    Sen. Kyrsten Sinema (D-Ariz.) announced on Thursday that she will support the climate and tax legislation known as the Inflation Reduction Act of 2022. Last week, Sen. Joe Manchin (D-W.Va.) announced his support of the bill, and she had been the last Democratic holdout in the Senate. Sinema’s support of the bill was based on Senate Democrats agreeing to her demand to drop a provision that would have closed the carried interest loophole, which benefits hedge fund and private equity executives, and to change the structure of a 15 percent minimum tax on corporations. Her agreement to the bill means that it can move forward through the Senate in the next few days. 
  • IRS Alerts Tax Pros: Be Aware of Signs of Identity Theft

    By:
    Ruth Singleton
    |
    Aug 2, 2022

    The IRS has issued a warning to tax professionals to be on the lookout for several tell-tale signs of identity theft. 

  • A Deeper Look at the Major Tax Provisions of the 2022 Inflation Reduction Act

    By:
    Ruth Singleton
    |
    Aug 1, 2022
    Late last week, Sen. Joe Manchin (D-W.Va.) announced that he would support a climate and tax bill known as the Inflation Reduction Act of 2022, which includes several provisions of the Build Back Better legislation that failed to pass the Senate last year. The new bill includes significant tax changes, although a more stringent international tax regime and a controversial “millionaire’s tax” are not included in the final version. 
  • IRS Acknowledges Sending Erroneous Balance Due Notices to Some Married Couples

    By:
    Ruth Singleton
    |
    Jul 29, 2022
    The IRS has issued a statement acknowledging that some payments made for 2021 tax returns were not correctly applied to taxpayers’ accounts and that, as a result, the taxpayers who made these payments are receiving erroneous balance due notices. The IRS said that these are largely payments that were made by the second taxpayer listed on a married filing jointly return submitted through an online account. But it noted that some other taxpayers may also be affected outside of this group. 
  • Reversing His Recent Position, Manchin Now Says He Agrees to Climate and Tax Bill

    By:
    Ruth Singleton
    |
    Jul 28, 2022
    Sen. Joe Manchin (D-W.Va.) yesterday agreed to a bill that would provide hundreds of billions of dollars for climate and energy programs and also include tax increases, reversing a position he took less than two weeks ago,. The package would also subsidize health care and lower the cost of prescription drugs. The bill, now called the Inflation Reduction Act of 2022, includes several provisions of the Build Back Better package supported by President Joe Biden and congressional Democrats. 
  • Member of Congress Asks IRS for Information About Its Approval of Fake Charities

    By:
    Ruth Singleton
    |
    Jul 25, 2022
    A member of Congress is seeking answers about why the IRS approved multiple fake charities that sought tax-exempt status.. House Ways and Means Oversight Subcommittee chairman Bill Pascrell (D-N.J.) sent a letter to IRS Commissioner Chuck Rettig last week, requesting answers to three questions about the controversy.