Check out our summary of significant Internal Revenue Service (IRS) guidance and relevant tax matters for the week of August 26, 2024 – August 30, 2024. August 26, 2024: The IRS released Internal Revenue Bulletin 2024-35, which includes the following: Revenue Ruling 2024-16, which provides the average annual effective interest rates for new loans under
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Weekly IRS Roundup August 19 – August 23, 2024
Check out our summary of significant Internal Revenue Service (IRS) guidance and relevant tax matters for the week of August 19, 2024 – August 23, 2024. August 19, 2024: The IRS released Internal Revenue Bulletin 2024-34, which includes the following: Treasury Decision 10005, which provides the criteria for single-employer defined benefit plan sponsors to obtain…
Weekly IRS Roundup August 12 – August 16, 2024
Check out our summary of significant Internal Revenue Service (IRS) guidance and relevant tax matters for the week of August 12, 2024 – August 16, 2024. August 12, 2024: The IRS released Internal Revenue Bulletin 2024-33, which includes final regulations on the treatment of property used to acquire parent stock or securities in certain triangular…
Weekly IRS Roundup August 5 – August 9, 2024
Check out our summary of significant Internal Revenue Service (IRS) guidance and relevant tax matters for the week of August 5, 2024 – August 9, 2024. August 5, 2024: The IRS released Internal Revenue Bulletin 2024-32, which includes final regulations on the excise tax for certain sales by manufacturers, producers and importers of designated drugs…
Weekly IRS Roundup July 29 – August 2, 2024
Check out our summary of significant Internal Revenue Service (IRS) guidance and relevant tax matters for the week of July 29, 2024 – August 2, 2024. July 29, 2024: The IRS released Internal Revenue Bulletin 2024-31, which includes the following: Revenue Procedure 2024-27, which provides new reproduction requirements for substitute forms, including Forms W-2 and…
Weekly IRS Roundup July 22 – July 26, 2024
Check out our summary of significant Internal Revenue Service (IRS) guidance and relevant tax matters for the week of July 22, 2024 – July 26, 2024. July 22, 2024: The IRS released Internal Revenue Bulletin 2024-30, which includes the following: Treasury Decision 9999, which sets forth final regulations under § 170 and § 706 of…
Weekly IRS Roundup July 15 – July 19, 2024
By Evan Walters
Check out our summary of significant Internal Revenue Service (IRS) guidance and relevant tax matters for the week of July 15, 2024 – July 19, 2024. July 15, 2024: The IRS released Internal Revenue Bulletin 2024-29, which includes: Announcement 2024-29, which revokes the Internal Revenue Code (Code) 501(c)(3) determination for specified organizations and stipulates that…
Weekly IRS Roundup July 8 – July 12, 2024
Check out our summary of significant Internal Revenue Service (IRS) guidance and relevant tax matters for the week of July 8, 2024 – July 12, 2024. July 8, 2024: The IRS released Internal Revenue Bulletin 2024-28, which includes, among other things: Announcement 2024-28, which revokes the Internal Revenue Code (Code) 501(c)(3) determination for specified organizations…
Weekly IRS Roundup July 1 – July 5, 2024
Check out our summary of significant Internal Revenue Service (IRS) guidance and relevant tax matters for the week of July 1, 2024 – July 5, 2024. July 1, 2024: The IRS released Internal Revenue Bulletin 2024-27, which includes the following: Notice 2024-52, which provides the applicable reference price and the credit amount used for determining…
Supreme Court Overrules Chevron, Opening Door for New Tax Reg Challenges
On June 28, 2024, the Supreme Court of the United States reshaped the federal tax landscape when it overturned the long-standing Chevron doctrine in Loper Bright Enterprises v. Raimondo, No. 22-451. The Chevron doctrine, a pillar of US administrative law for four decades, required courts to defer to an agency’s reasonable interpretation of an ambiguous statute even where the court…