IRS Reminds Eligible IRA Owners of Increased Tax-Free Charitable Donation Limit for 2024, IR-2024-289
The IRS reminded individual retirement arrangement (IRA) owners aged 70½ and older that they can make tax-free charitable donations of […]
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Final and Proposed Regulations Issued on Election to Exclude Unincorporated Organizations from Partnership Rules, T.D. 10012; NPRM REG-116017-24
The Treasury Department and IRS have issued final regulations allowing certain unincorporated organizations owned by applicable entities to elect to […]
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NTA Calls Out IRS on Proposed Changes to Third Party Contact Regs
Current rules call for the IRS to provide a 45-day notice when it intends to contact a third party with […]
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Regulations Amended to Modernize Sales of Seized Property and Maximize Proceeds, T.D. 10011
The IRS has amended Reg. §30.6335-1 to modernize the rules regarding the sale of a taxpayer’s property that the IRS […]
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FinCEN Provides BOI Reporting Relief to Victims of Recent Natural Disasters, FIN-2024-NTC7; FIN-2024-NTC8; FIN-2024-NTC9; FIN-2024-NTC10; FIN-2024-NTC11
The Financial Crimes Enforcement Network (FinCEN) has announced that certain victims of Hurricane Milton, Hurricane Helene, Hurricane Debby, Hurricane Beryl, […]
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NTA Applauds IRS Changes to Foreign Gift, Inheritance Filing Penalties
National Taxpayer Advocate Erin Collins offered her support for recent changes the Internal Revenue Service made to inheritance filing and […]
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2025 Inflation Adjustments for Pension Plans, Retirement Accounts Released, Notice 2024-80; IR-2024-285
The 2025 cost-of-living adjustments (COLAs) that affect pension plan dollar limitations and other retirement-related provisions have been released by the […]
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Little Chance for Lame Duck Tax Legislation, Reconciliation Bill on Table in 2025
WASHINGTON–With Congress in its lame duck session to close out the remainder of 2024 and with Republicans taking control over […]
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