The Tax Professionals Blog
Highlights of Internal Revenue Bulletin 2025-19 – 5/5/2025
Posted by Lee Reams Sr., BSME, EA on
In Bulletin 2025-19, the IRS issues relief for micro-captive disclosures, updates mortgage bond limits, yield curves, and revokes basis shifting regs.
Reporting Foreign Gifts to the IRS
Posted by Lee Reams Sr., BSME, EA on
Learn the IRS rules for reporting foreign gifts, including 2025 thresholds, required forms like Form 3520 and Schedule B, and penalties for noncompliance under Code Sec. 6039F.
Highlights of Internal Revenue Bulletin 2025-18 – 4/28/2025
Posted by Lee Reams Sr., BSME, EA on
In this release, the IRS announced no new rulings or procedures were published in IRB 2025-18 for the week of April 28, 2025.
Compensation Distinguished from a Gift
Posted by Lee Reams Sr., BSME, EA on
In this article, we cover how the IRS distinguishes between gifts and compensation, what counts as a de minimis fringe benefit, and why holiday hams don’t count as taxable income.
Highlights of Internal Revenue Bulletin 2025-17 – 4/21/2025
Posted by Lee Reams Sr., BSME, EA on
This article covers key highlights from IRB 2025-17, including input on the 2025-2026 Priority Guidance Plan.