IRS WATCH

Infrastructure bill includes some tax provisions

By Michael Cohn       4 min read

The bipartisan infrastructure bill that the House passed over the weekend and sent to President Biden’s desk includes some tax-related provisions, including an early expiration of the Employee Retention Tax Credit and new rules for reporting on cryptocurrency transactions. Read story →

IRS Appeals to stay virtual for time being

By Roger Russell       3 min read

Officials shared information on mid-February returns, preparing for next tax season, and more. Read story →

IRS details reporting guidance on carried interest at partnerships

By Michael Cohn       4 min read

The Internal Revenue Service provided detailed reporting directions Wednesday for certain passthrough entities and taxpayers reporting partnership interests held in connection with the performance of services, often referred to as “carried interest.” Read story →

Musk’s Twitter gambit opens way to paying billions to IRS

By Anders Melin and Scott Carpenter       3 min read

The Tesla founder will have a hefty tax bill however he chooses to make good on his pledge. Read story →

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Tax Fraud Blotter: ‘One fire too many’

By Jeff Stimpson       6 min read

Where there’s smoke; FedEx con; the bank of me me me; and other highlights of recent tax cases. Read story →

Opportunity zone compliance eludes IRS as deadline approaches

By Michael Cohn       8 min read

Much of the data necessary for compliance is unavailable, according to a new report. Read story →

Congress makes historic pivot to focus on kids over older adults

By Mike Dorning       5 min read

The $1.75 trillion package marks a dramatic shift toward boosting support for families with children. Read story →

IRS ups 401(k) contributions to $20,500

By Michael Cohn       3 min read

The service lifted the limit from $19,500 as part of its annual inflation adjustments.  Read story →

Meet the 2021 Best Firms for Young Accountants

A look inside the 10 best places to start a career in accounting. Read story →

BF Borgers leads again in new SEC clients

By Daniel Hood       2 min read

With activity up, a number of firms brought on large numbers of new clients, but netted far fewer. Read story →

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