The Internal Revenue Service clarified the treatment of money paid for energy-efficient property and improvements in Announcement 2024-19.
Day: April 8, 2024
Some Taxpayer Centers to stay open this Saturday
More than 70 of the Internal Revenue Service’s assistance centers will be open for walk-ins from 9 a.m. to 4 p.m.
Two home energy rebates not includible in gross income, IRS says
The IRS said it will not include the rebates provided under the Inflation Reduction Act of 2022 in individual purchasers’ gross income or in the cost basis of the property purchased.
SEC pauses climate disclosure rule
The Securities and Exchange Commission has temporarily stayed its climate-related disclosure rule amid a rash of lawsuits.
IRS changes how tax pros receive transcripts
The Internal Revenue Service is making some changes in the way it sends tax transcripts for clients to tax professionals to beef up security.
IRS sees steady growth in Direct File free tax program
The Treasury reported increasing usage of the free tax-filing system that they’ve been pilot testing in a dozen states this tax season.
AICPA: BOI ruling confuses businesses; enforcement should be delayed
In a letter to the Treasury secretary and the FinCEN director, the AICPA called for enforcement of beneficial ownership information reporting regulations to be suspended until after lawsuits are settled.