The Tax Professionals Blog
Highlights of Internal Revenue Bulletin 2024-36...
This week's bulletin highlights the latest IRS rulings, including a new Voluntary Disclosure Program for Employee Retention Credit claims, updates on retirement plan rates, and SECURE 2.0 guidance.
Read MoreFiling When Married to a Non-Resident Alien Spouse
Read this article to learn how U.S. citizens or residents married to nonresident aliens can elect to file jointly by treating the nonresident spouse as a U.S. resident for tax...
Read MoreHighlights of Internal Revenue Bulletin 2024-35...
In this release, IRB 2024-35 addresses estate tax interest rates for farm property, 501(c)(3) revocations, and proposed rules on loss deductions for multinational corporations.
Read MoreResident Apartment Manager Tax Issues
When landlords hire resident managers and offer reduced or free rent as part of their compensation, the tax implications can differ based on certain conditions. To understand how this impacts...
Read MoreIRS Offers Second Chance to Resolve ERC Claims
The IRS introduced a second Employee Retention Credit (ERC) Voluntary Disclosure Program for 2021 claims, aiming to address improper ERC claims. Participants must meet specific criteria and remit 85% of...
Read MoreHighlights of Internal Revenue Bulletin 2024-34...
IRB 2024-34 highlights include updates to mortality tables for defined benefit plans, new rules for carbon sequestration credits, and the complete phase-out of the enhanced oil recovery credit for 2024.
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