Ideas & Insights

IRS cannot assess underpayment interest where it has continuous use of credit-elect overpayments that exceed a deficiency.

The GASB has changed the term “comprehensive annual financial report” to “annual comprehensive financial report.”

The IRS recently announced new requirements for LLCs to qualify as exempt organizations under section 501(c)(3).

IRS adds 12 new 2022 vehicles eligible for tax credit of up to $7,500, including vehicles manufactured by Hyundai, Kia, Mitsubishi and Ford.

Recent IRS advice notes that a company group including several companies must support the interest deductions claimed by a specific company.

Understanding environmental crime and how your company can establish good practices to help identify environmental money laundering.

This article discusses implications of the recent IRS campaign targeting US expatriates to Puerto Rico and related tax issues.

IRS provides guidance about specificity requirement for filing refund claims for IRC section 41 research credit.

Delaware letters advise businesses to either participate in the state’s unclaimed property VDA Program or be subject to an audit.

IRS changes FAQ policy regarding new tax legislation and offers reliance on FAQs as reasonable cause defense to accuracy-related penalties.

As Congress ponders tax law changes, financial statement preparers may be wondering about the related financial reporting.

The TE/GE division will add emerging issues, including COVID-related employer credits, to its existing compliance activities.

Recent leveraged spin-off ruling shows favorable tax treatment may still be available even outside of safe harbors provided in IRS guidance.

IRS rules anti-churning rules apply to deemed asset sales when certain intangible assets remain within the same consolidated group.

A roundup of recent tax law changes and other income tax provision considerations for the quarter ending Sept. 30, 2021.

A summary of important updates for determining deferred tax provision under ASC 740 for the quarter ending Sept. 30, 2021.

The IRS foresees better phone service for taxpayers by hiring more than 1,000 new phone assisters across all call lines.

Micro-captive insurance managers win preliminary injunction against enforcement of IRS Notice 2016-66’s reporting requirements.

RSM has submitted to U.S. Congressional leaders comments addressing the upcoming requirement to experimental expenditures

Several provisions would tighten IRA rules for high-income individuals, and some other changes apply regardless of income level.