The Consolidated Appropriations Act extends an extensive list of expired tax provisions, some permanently, some for five years, and many for two years, through 2016.
Passports can be denied to any person whom the IRS certifies as having seriously delinquent tax debt.
The IRS issued proposed regulations amending the definitions of “spouse” and “husband and wife” to reflect U.S. Supreme Court decisions.
The act replaces the current TEFRA partnership audit rules and repeals the current special rules for electing large partnerships.
In addition to disrupting people's lives and the economy, government shutdowns also significantly affect IRS operations and taxpayer rights.
The omnibus spending bill passed by Congress on Friday, which extends a long list of expired tax provisions, also contains a large number of other tax items.
The highway funding bill passed by Congress includes provisions that will allow the government to revoke the passports of seriously delinquent tax debtors and will require the IRS to use third-party debt collectors.
It’s a good time to review which provisions might get a last minute reprieve and see what legislation is pending in Congress.
The Surface Transportation and Veterans Health Care Choice Improvement Act of 2015 contains several important tax provisions.
The proposed grant of authority to the IRS to regulate all aspects of tax practice is overly broad, the AICPA said in a letter to the Senate Finance Committee.
The Trade Preferences Extension Act of 2015, enacted on June 29, contains a few tax provisions in addition to the trade measures that were the focus of the bill.
The short-term highway funding extension passed by the Senate contains several important tax provisions.
The 114th Congress started with talk of comprehensive tax reform, but actions to date hint a different ending may be in store.
The Senate passed a bill to retroactively extend more than 50 expired tax provisions through 2014, by a vote of 76-16 on the evening of Dec. 16. The extender bill passed the House of Representatives on Dec. 3, and was signed by President Barack Obama on Dec. 19.
Every year, Congress must renew dozens of expired tax provisions, and taxpayers must anticipate what Congress is going to do each year as they structure their business affairs.
President Barack Obama on Friday signed into law the Tax Increase Prevention Act of 2014, which retroactively extends more than 50 expired tax provisions through 2014.
The Senate passed a bill to retroactively extend more than 50 expired tax provisions through 2014, by a vote of 76–16 on Tuesday evening. The extender bill passed the House of Representatives on Dec. 3, and it now goes to President Barack Obama for his signature.
Wednesday’s deal to fund the federal government through Jan. 15 and to extend the federal government’s borrowing authority through Feb. 7 in the end contained only one tax provision, making a minor change to 2010’s health care legislation.
In written and oral testimony, Jeffrey Porter, CPA, addressed the impact of tax uncertainty in several areas and made recommendations on behalf of the AICPA for alleviating some of that uncertainty.
President Barack Obama signed into law the Middle Class Tax Relief and Job Creation Act of 2012. The IRS released a revised Form 941 to reflect the extended payroll tax cut.