Highlights of Internal Revenue Bulletin 2025-20 – 5/12/2025
IRS Bulletin 2025-20 highlights the 2025 inflation adjustment for § 45Q carbon capture credits and the 2024 reference price under § 45K ...
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The Tax Professionals Blog · 446 articles
Divorce Transfers: Basis, Exclusions & Tax Rules
Learn key IRS rules for property transfers between spouses in divorce, including basis, Sec 121 exclusions, buy-out debt, and passive lo...
Read moreHighlights of Internal Revenue Bulletin 2025-19 – 5/5/2025
In Bulletin 2025-19, the IRS issues relief for micro-captive disclosures, updates mortgage bond limits, yield curves, and revokes basis ...
Read moreReporting Foreign Gifts to the IRS
Learn the IRS rules for reporting foreign gifts, including 2025 thresholds, required forms like Form 3520 and Schedule B, and penalties ...
Read moreHighlights of Internal Revenue Bulletin 2025-18 – 4/28/2025
In this release, the IRS announced no new rulings or procedures were published in IRB 2025-18 for the week of April 28, 2025.
Read moreCompensation Distinguished from a Gift
In this article, we cover how the IRS distinguishes between gifts and compensation, what counts as a de minimis fringe benefit, and why ...
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