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IRS Advisory Council report defends workers, criticizes budget and staff cuts
In its annual report, IRSAC said the IRS has been through “an extraordinarily difficult year” with budget and staff cuts while preparing for numerous tax law changes. The report also noted tax practitioners’ prolonged wait times when contacting the IRS.
AICPA tax policy and advocacy successes: 2025 highlights
The AICPA’s Tax Division volunteer committees and technical resource panels can point to many positive results last year from its advocacy to Treasury, the IRS, and Congress for law changes and administrative guidance.
AICPA calls on IRS to automate Sec. 1033 extension requests
The recommendation aims to cut delays that leave taxpayers uncertain about disaster related replacement deadlines for property.
Key international tax issues for individuals and businesses
U.S. persons abroad and foreign persons living in or with connections to the United States may have responsibilities for filing any of an array of returns and information forms.
Revisiting Sec. 1202: Strategic planning after the 2025 OBBBA expansion
This powerful vehicle for excluding gain on qualified small business stock gains even more traction under new legislation.
Managing tax practices in response to new legislation
Firms can follow these guidelines to position themselves as the trusted advisers clients need to navigate the many tax law changes in H.R. 1.
Advocacy for state disaster tax relief
The AICPA advocates for uniform disaster-related tax filing and payment relief provisions.
Practical tax advice for businesses as a result of the OBBBA
H.R. 1, P.L. 119-21, the law commonly known as the One Big Beautiful Bill Act (OBBBA), contains provisions of special interest to business taxpayers. This article summarizes some of them and offers tax planning tips.
IRS updates FAQs on business interest limitation, premium tax credit
The updates reflect changes made in H.R. 1, P.L. 119–21, commonly known as the One Big Beautiful Bill Act.
Corporate Transparency Act, source of BOI reporting mandate, held constitutional
Despite the Eleventh Circuit holding that the Corporate Transparency Act is constitutional, an interim rule from Treasury means that domestic companies are not subject to beneficial ownership information reporting requirements.
IRS announces prop. regs. on international tax law provisions in OBBBA
The proposed regulations will deal with changes included in H.R. 1, P.L. 119-21, commonly known as the One Big Beautiful Bill Act.
Digital asset transactions: Broker reporting, amount realized, and basis
Final regulations provide comprehensive guidance for tax reporting of transactions involving these increasingly common assets, and the IRS has granted transition relief in key areas.
Practitioner engagement letters: Strategies for increasing compliance
A well-drafted engagement letter provides essential protection and important benefits to CPAs in tax practice and in other engagements and to their clients.
QSBS gets a makeover: What tax pros need to know about Sec. 1202’s new look
New legislation has expanded the already advantageous provisions for gain exclusion from a sale of qualified small business stock.
Notice 2025-27 provides interim guidance on corporate AMT
The notice provides an optional interim simplified method of determining whether a corporation is an applicable corporation for purposes of the corporate AMT and relief from the Sec. 6655 penalty for underpayment of estimated tax with respect to a corporation’s corporate AMT liability.
The ongoing fight against frivolous tax arguments
Taxpayers who make frivolous arguments in Tax Court risk the imposition of penalties by the court of up to $25,000.
IRS releases Whistleblower Office operating plan
The plan’s promised enhancements include improving claims submittal and processing and communication with whistleblowers.
About 1 million taxpayers to get automatic penalty relief next year
During a session at the AICPA National Tax Conference, the national taxpayer advocate said the IRS will start applying first-time abatements automatically next year.
AICPA warns that merger of IRS offices would ‘confuse’ taxpayers
The proposed merger of the Office of Professional Responsibility and the Return Preparer Office would blur “the public’s ability to perceive the distinction between credentialed, uncredentialed, and unenrolled preparers,” the AICPA said in a letter.
AICPA honors service and professional contributions in tax
Arthur Auerbach, an AICPA volunteer for 23 years, and Cory Perry, the chair of the AICPA’s Organization for Economic Co-operation and Development Task Force, received the tax profession’s highest honors.
