The preliminary guidance applies to an alternative minimum tax for large corporations and a tax on stock buybacks, which helped fund President Biden’s climate and health bill.
Category: Internal Revenue Service
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Treasury Department Outlines Rules for New Corporate Taxes
The New York Times – Business: -
I.R.S. Delays Tax Change for Users of Venmo, Cash App and Other Digital Wallets
The New York Times – Business:Users who receive income through digital payments will have another year before having to comply with a new tax rule that had sowed confusion and concern.
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Trump’s Tax Audit Shows Depths of IRS Funding Woes
The New York Times – Business:The agency lacks the resources to go after rich taxpayers. For years, a single revenue agent was responsible for the audits of Donald J. Trump.
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I.R.S. Routinely Audited Obama and Biden, Raising Questions Over Delays for Trump
The New York Times – Business:The revelation that the agency had not audited Donald J. Trump during his first two years in office despite a mandatory presidential audit program raised concerns about potential politicization.
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New I.R.S. Rules for Online Sales Sow Fears About Surprise Tax Bills
The New York Times – Business:Users of digital wallets and e-commerce platforms like Venmo, CashApp, Etsy and StubHub must start reporting small transactions.
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Would Elon Musk Actually Step Down as Twitter’s C.E.O.?
The New York Times – Business:The Twitter owner has said he will resign as chief executive, but it’s far from certain whether he would actually step down as the boss.
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Release of Trump Tax Returns Could Herald New Era for Taxpayer Privacy
The New York Times – Business:Revealing private documents risks a tit for tat with Republicans set to retake control of the House of Representatives.
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Hardship 401(k) Withdrawals, Explained
The New York Times – Business:Most employers allow you to take funds out of your retirement account, but the withdrawals come with significant downsides. Our columnist discusses other options.
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Kittens? Sex Toys? Pushing the Limits of Flexible Spending Accounts.
The New York Times – Business:The deadline for spending the money in the health accounts is approaching, and people are stretching the definition of eligible expenses.
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Biden to Nominate Former Obama and Bush Official to Lead IRS Overhaul
The New York Times – Business:If confirmed by the Senate, Daniel Werfel will oversee an $80 billion revamp of the tax agency.
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I.R.S. Gets Interim Leader at Pivotal Moment for Tax Collector
The New York Times – Business:The White House has yet to nominate a full-time commissioner as the agency embarks on an $80 billion overhaul.
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Here Are the 401(k) Contribution Limits for 2023
The New York Times – Business:The I.R.S. announced one of its largest increases in decades to caps on retirement contributions, allowing workers with access to the plans to save more.