Federal Tax Update Podcast

This week we look at a proposed tax bill that has advanced out of the House Ways & Means Committee.

Copyright 2024, Kaplan, Inc.

This week we look at:

• Talks continue on proposed tax bill
• IRS provides guidance on Pension-Linked Emergency Savings Account anti-abuse provisions
• Relief granted for filing information found in Part IV of Form 8308 for 2023 returns
• IRS updates Notice describing how to obtain certain exemptions from the required electronic filing of certain entity information and tax returns

This week we look at:

• New work in progress to try and obtain a bipartisan tax bill
• IRS gives car dealers a brief extension to file time-of-sale reports
• IRS reverses direction on treatment of impact of adding a tax reimbursement clause to an IDGT
• Taxpayer can rely upon date IRS places in Notice of Deficiency as the last day to file a Tax Court petition

This week, we look at FinCEN's release of the BOI E-Filing site on January 1, 2024.