Taxes

Tax Notes reporter Andrew Velarde discusses the latest developments on the final regulations for claiming foreign tax credits, including the IRS’s decision to delay implementation and the tax community’s response. This transcript has been edited for length and clarity. David D. Stewart: Welcome to the podcast. I’m David Stewart, editor in chief of Tax Notes

The IRS is hiring thousands of new workers. Just weeks after the tax agency announced plans to ramp up its focus on millionaires, complex partnerships, and large corporations, details about related new positions have been made public. The IRS is hiring 3,700 new employees nationwide in more than 250 locations. The hiring is focused on

What is taxed and what isn’t can be confusing. In the case of disability pay, whether it is taxed or not usually depends on who paid for the disability insurance coverage. Perhaps your employer paid for your disability coverage, and you were covered as a fringe benefit. In that case, when you are disabled and

Michael R. Stevenson is better known by his stage name of Tyga. Tyga is a successful rapper, who like many celebrities has found his way to Tax Court. His attorneys were pushing back against an IRS levy notice on a balance due of over $2 million for just 2019. It did not go well, in

The Inflation Reduction Act includes U.S. territories in the expansion of clean energy tax benefits, but only partially. The proposed elective payment regulations (REG-101607-23) define when territories and entities within them can benefit from the new regime. The proposed rules provide that applicable entities include U.S. territories and their political subdivisions, instrumentalities, and agencies, similar

As companies continue to struggle with managing remote work for their employees, many workers want at least some flexibility. But although working from home has become a semi-permanent feature of the economy, not everyone can get it. Can you? The biggest factor determining remote work is the industry you’re in; it’s highest in sectors with

As companies continue struggling to manage remote work for their employees, many workers want at least some remote work. But although working from home has become a semi-permanent feature of the economy, not everyone can get it. Can you? The biggest factor determining remote work is the industry you’re in; it’s highest in sectors with

A few years ago, a neighbor of mine was having a serious problem with the Social Security Administration. The agency inexplicably denied her the retirement benefits she was entitled to — all because of a name change. Something so basic as reverting to her maiden name (after being widowed for a decade) was enough to

Citing “rising concerns about a flood of improper Employee Retention Credit claims,” the IRS has announced an immediate moratorium on processing new ERC claims. The agency says that the pause, which will run through through at least the end of the year, is intended to protect honest small business owners from scams. No new claims

Gasoline in Georgia just got a little cheaper. Governor Brian P. Kemp (R) declared a State of Emergency in the Peach State, citing inflation and unfavorable economic conditions. The declaration allows him to temporarily suspend the state’s excise tax on motor and locomotive fuel. The executive order went into effect on Sept. 13, 2023, at