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TAXES Archive

IRS makes retirement account inflation adjustments for 2022

TweetShareSharePin0 Shares News EMPLOYEE BENEFITS & PENSIONS By Paul Bonner This IRS issued Notice 2021-61 Thursday updating for 2022 dollar-amount ceilings and thresholds for a wide range of qualified retirement plans and accounts, including traditional individual retirement arrangements (IRAs) and Roth IRAs. The notice also has the 2022 limits on elective deferrals for plans

IRS Succeeds in Jurisdictional Argument – With a Twist

TweetShareSharePin0 Shares For years the IRS has argued against the application of the Supreme Court’s jurisprudence regarding time periods for filing cases.  It has consistently taken the position that time periods for filing are jurisdictional in order to keep taxpayers to whom it gave the wrong dates for filing, who never received notices, who were

Carried interest reporting FAQs and guidance posted

TweetShareSharePin0 Shares In News Release IR-2021-215 and a webpage answering frequently asked questions (FAQs), the IRS provided guidance Wednesday on filing and reporting by passthrough entities and holders of applicable partnership interests (APIs) held in connection with performance of services under Sec. 1061, known as carried interests. The FAQs provide further guidance on final regulations

Some Notes on Economic Reality and Section 7602(e)

TweetShareSharePin0 Shares We welcome back Bob Kamman who writes today about the past and how it matters in having a full understanding of the current debate forbidding the use of financial status or economic reality examination techniques.  Like Bob, I remember when the IRS rolled out economic audits.  His remembrances and insights help inform the

tax time

TweetShareSharePin0 Shares telefile. woo. i hope that i get money back again. Posted by Rakka on 2005-01-07 02:42:17 Tagged: , taxes TweetShareSharePin0 Shares

Recent Developments in Partnership Audits (Part 2)

TweetShareSharePin0 Shares In yesterday’s post Rochelle Hodes, Principal with Crowe LLP, provided background on BBA, emphasizing what makes its rules unique in tax procedure. Today’s post will briefly discuss two important BBA developments, the IRS’s Large Partnership Compliance Program and significant ABA Tax Section comments on proposed BBA regulations. Les The IRS is scheduled to
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