IRS to Begin Audits of CEO Company Jet Use

The agency will review business expense claims for private travel. The Internal Revenue Service (IRS) announced that they are proceeding with tax audits to review the accuracy of…

Read More

IRS Releases Corporate Alternative Minimum Tax Information

The guidance clarifies the 15% minimum policy introduced through Inflation Reduction Act. The Department of the Treasury and the Internal Revenue Service (IRS) have released official guidance for…

Read More

Treasury Releases Multinational Tax Guidance Document

“Pillar Two“ provides details on global minimum tax for corporations. The Organisation for Economic Co-operation and Development (OECD), an international financial forum that participates in all G20 meetings,…

Read More

President Calls for Oil Companies to Reinvest Profits

He urged Congress to raise their taxes if production is not increased. President Joe Biden has urged Congress to increase taxes on oil and gas companies’ profits if…

Read More

Secretary Yellen Prepares IRS for Inflation Act Policy

 She says the budget increase will not impact middle-class tax audits. Secretary of the Treasury Janet Yellen sent a letter to the Internal Revenue Service (IRS) last week…

Read More

Senator Wyden Proposes Oil Company Tax Hike

Tax would be on “excess profits.”  Senator Ron Wyden of Oregon is introducing the Taxing Big Oil Profits Act, which he says will accentuate the tax burden of…

Read More

IRS to Raise Interest Rates in April

They set new rates every quarter per federal code.  As of Friday, April 1, interest rates on amounts due to the Internal Revenue Service will increase for the…

Read More

White House Floating New Tax Increase Plan

The current bill does not have enough Senate support.  The White House is giving consideration to a new tax increase plan to get enough senators on board to…

Read More

G7 Nations Agree to 15% Global Tax

Announcement was made by U.S. Treasury Secretary Yellen, a proponent of the tax. The Group of Seven (G7) nations have committed to moving toward a 15% global minimum…

Read More

President Seeking Compromise on Infrastructure

He has been in negotiations with opposing legislators. President Joe Biden has said he is willing to abandon his proposed corporate tax rate in exchange for at least…

Read More
Back to top
FE3