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President Signs Bill Providing Temporary Funding Relief for Pension Plans

President Barack Obama signed HR 3962, the Preservation of Access to Care for Medicare Beneficiaries and Pension Relief Act of 2010. The bill includes the so-called “doc fix,” increasing Medicare reimbursement to physicians by 2.2% through the end of November, in place of a scheduled 21% cut.

Health Care Regulations Issued

The IRS and Treasury Department issued proposed regulations further implementing provisions of the recent health care legislation concerning pre-existing conditions, annual benefit limits and coverage rescissions.

Go Easy on E-File Mandate, Committee Suggests

The preparer e-filing mandate effective next year should instead be phased in over three years, the Electronic Tax Administration Advisory Committee recommends. The committee also offers in its annual report recommendations on new proposed preparer oversight regulations and IRS computer systems modernization.

Regulations Issued on Grandfathered Health Plans

The IRS, the Department of Labor, and the Department of Health and Human Services issued interim final regulations on June 14 regarding grandfathered health plans under the health reform legislation enacted in March

IRS Issues Partnership Anti-Abuse Rule Regulations

The IRS and Treasury issued final regulations to provide that the Sec. 704(c) anti-abuse rule takes into account the tax liabilities of both partners and certain owners of partners (T.D. 9485).

TAX PRACTICE MANAGEMENT

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2025 tax software survey

AICPA members in tax practice assess how their return preparation software performed during tax season and offer insights into their procedures.

Tax Clinic

IRS generally eliminates 5% safe harbor for determining beginning of construction for wind and solar projects

IRS proposes using NAICS to determine lines of business for certain fringe benefit exclusions

IRS rules that community trust and affiliated nonprofit corporation can file a single Form 990

Prop. regs. issued on new qualified tips deduction

IRS rules for first time that REIT’s income from markup on electricity from EV charging stations is rents from real property