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IRS News

• Congress enacts tax and climate bill
  August 12, 2022
  With Senate amendments approved by the House on Friday, the budget reconciliation bill now known as the Inflation Reduction Act will go to the president for his signature.
• Guide released for tax pros’ information security plan
  August 10, 2022
  A downloadable booklet describes the Gramm-Leach-Bliley Act’s safeguards rule and includes a template for a firm’s required written information security plan.
• Key tax provisions in the Senate reconciliation bill
  August 8, 2022
  The Inflation Reduction Act passed by the Senate on Sunday includes many tax items, some designed to raise revenue and others to promote various clean energy initiatives.
• National taxpayer advocate appeals IRS response on scanning tech
  August 4, 2022
  National Taxpayer Advocate Erin Collins escalated her push for the IRS to adopt barcode scanning of paper tax returns, but the IRS would commit only to a goal of scanning […]
• Regulations streamline partnership basis elections
  August 4, 2022
  Final regulations issued by the IRS and Treasury allow a Sec. 754 election statement to be submitted without a partner’s signature.
• CHIPS and Science Act with semiconductor tax credit passes Congress
  July 29, 2022
  The bill now goes to President Joe Biden, who has said he will sign it into law.