Tax Law News and Insights

Last month, the Department of the Treasury and the Internal Revenue Service ("IRS") issued proposed regulations updating the rules for tax professionals who practice before the IRS. These rules, which are contained in Treasury Department Circular 230 ("Circular 230") and apply to attorneys, certified public accountants, and enrolled agents who...

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The IRS has made it clear that it is doubling down on efforts to pursue individuals who fail to file tax returns, particularly high-income earners. This announcement comes as part of a broader strategy to increase compliance and close the tax gap, aligning with previous warnings about an uptick in...

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The U.S. Department of the Treasury and the Internal Revenue Service have issued final regulations for the investment tax credit under section 48, providing guidance for projects that start construction by December 31, 2024. Section 48 of the Internal Revenue Code allows taxpayers generally to claim a 30% investment tax...

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