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Daily Tax Report ®
IRS Issues Technical Corrections for Book-Income Tax Rules
The IRS issued a package of technical corrections on Monday for its proposed rules to implement the new minimum tax on companies’ book income. The corrections fix errors in rules the IRS proposed in September on how to apply and calculate the corporate alternative minimum tax, or CAMT.
Daily Tax Report ®
IRS to Send Out Automatic Payments for Recovery Rebate Credit
The IRS will send out automatic payments later this month to taxpayers who didn’t claim the recovery rebate credit on their 2021 tax returns. A million taxpayers didn’t claim the recovery rebate credit when they were eligible, IRS Commissioner Danny Werfel said in a statement Friday.
Daily Tax Report ®
Treasury Proposes Modifications to IRS Practice Regulations
The Treasury Department proposed regulations to update rules for tax professionals practicing before the IRS. If finalized, the rules would update Circular 230, which contains regulations for those practicing in front of the IRS, including attorneys, certified public accountants, enrolled agents and others.
Talking Tax
Talking Tax, from Bloomberg Tax, is a weekly discussion of the most pressing issues facing tax and accounting professionals. Each week the podcast features discussions with lawmakers, federal regulators, lawyers, and journalists. From the courts to Capitol Hill to the IRS, Talking Tax has it covered.
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