Treasury and the IRS continue their scrutiny of captive insurance transactions that they deem to be abusive.
There have been recent changes to the eligibility requirements for certain small captives to elect to be taxed only on their investment income.
IRS regulations and revisions provide state or local housing credit agencies with additional flexibility in implementing monitoring duties.
This item describes the evolution of the ITC, information about the timing and scope of potential future regulations, and potential issues that the IRS may attempt to address in the guidance.
The IRS announced that it will provide estimated tax penalty relief for farmers and fishermen who are not able to file and pay their 2012 taxes by the March 1 deadline due to the delayed start for filing tax returns.