Tax regulations

A look at the biggest regulations, legislation and court cases in the field from the first half of the year.

Investors in digital assets have been pummeled recently by the longest losing streak since 2011, but if they act promptly, they can cut their tax bills.

A group of lawmakers teamed up Thursday to introduce bipartisan legislation that aims to create a workable structure for taxing purchases made with cryptocurrency.

Like their cryptocurrency cousins, non-fungible tokens are generating market interest, and tax confusion.

The service’s recent move to set new requirements for claiming refunds on research tax credits is provoking an uproar among tax professionals.

Under the 2017 Tax Cuts and Jobs Act, R&E expenses paid or incurred after 2021 must be capitalized and amortized over five years (15 years if research is performed overseas).

The bipartisan infrastructure bill includes requirements for brokers to report their customers’ cryptocurrency gains to the Internal Revenue Service, but exactly what constitutes a broker is stirring controversy.

Sure, you might have to actually pay U.S. taxes on those crypto trades. But at least it will be easier to figure out how much you owe.

Congress introduced bipartisan legislation aimed at changing the estimated tax payment deadlines to a uniform, quarterly schedule.

House Democrats in high-tax New York, New Jersey, enlist help from firefighters, teachers and other union members to repeal the $10,000 SALT cap on deducting state and local taxes, including property taxes.

Some clients may have to pay the money back if their jobs or salaries change.

President Biden releases his annual budget on May 27, a move likely to detail his plans to increase the capital gains tax rate and eliminate a lucrative benefit for inherited estates.

The IRS and the Treasury Department are giving small businesses that received Paycheck Protection Program loans in the first round a way to deduct expenses they couldn’t claim last year.

Notice 2021-25 offers details on a provision of the COVID-19 relief package from last December that allows a temporarily larger deduction.

Yet another IRS change to tax rules amid the COVID pandemic is complicating tax-planning opportunities for financial advisors this filing season.

Collecting all unpaid income tax from the top 1% would boost revenue to the U.S. Treasury by $175 billion a year.

New guidance shows how employees and employers can carry over unused money from flexible spending accounts and dependent care assistance programs.

The Internal Revenue Service and the Treasury Department released guidance on claiming deductions for expenses associated with Paycheck Protection Program loans that have been forgiven.

The Internal Revenue Service is increasing many of the fees for requests for private letter rulings by 26.7 percent, starting Feb. 4.

The rules address the definition of real property, and how to handle personal property included in an exchange.