Arizona House races in next month’s midterms could serve as a referendum on the GOP’s massive 2025 tax-and-spending law, Zach C. Cohen reports. The law’s impact on the swing state will test how and ...

The U.S. Tax Court held that a taxpayer was not entitled to relief from joint and several liability under I.R.C. §6015 because no valid joint return had been filed. While ...

The IRS issued temporary regulations under I.R.C. §25F addressing the new nonrefundable federal income tax credit for qualified contributions to scholarship granting organizations (SGOs) beginning in ...

The IRS proposed regulations implementing the new nonrefundable Federal Scholarship Tax Credit under I.R.C. §25F for qualified contributions to scholarship granting organizations (SGOs). The proposed ...

The IRS issued final regulations amending Transparency in Coverage requirements under the Internal Revenue Code, ERISA, and the Public Health Service Act for group health plans and health insurance ...

The IRS issued a revenue procedure providing an updated safe harbor under which qualifying investment trusts and grantor trusts may stake digital assets on proof-of-stake blockchain networks without ...

The California Governor signed a law that includes providing the Franchise Tax Board (FTB) with the discretion to maintain the state income tax-exempt status of an I.R.C. §501(c)(3) nonprofit whose ...

House Tax writers who supported cryptocurrency taxation legislation are getting a boost in their reelection bids from the industry’s well-funded political action committee. Fairshake, one of the most ...

The U.S. Court of Appeals for the D.C. Circuit held that a taxpayer could not exclude the entirety of a settlement payment from gross income under I.R.C. §104(a)(2) and affirmed ...

The U.S. Court of Appeals for the Seventh Circuit held that a taxpayer could not pursue damages under I.R.C. §7434 based on an allegedly fraudulent Form 1099-C, Cancellation of Debt, ...

The IRS has issued a private letter ruling on I.R.C. §754 and Treas. Reg. §301.9100 granting a partnership a 120-day extension to file a Section 754 election for basis adjustments ...

The U.S. Tax Court held that a taxpayer was liable for a deficiency arising from $140,064 in unreported retirement account distributions for 2019 and for additions to tax for failure ...