There are two recent taxpayer-friendly updates of note in the international tax filing arena.
First, Internal Revenue Service (“IRS”) Commissioner Danny Werfel recently announced that the IRS is ending its automatic...more
The IRS adjusts tax brackets and other tax-related amounts for inflation on an annual basis. Based data from the Bureau of Labor Statistics through August 2024, experts have projected the following adjustments to some of...more
On June 28, 2024, in Loper Bright Enterprises v. Raimondo, the U.S. Supreme Court overruled its decision from a 1984 case and eliminated the doctrine of “Chevron deference.” Under this doctrine, courts deferred to permissible...more
On July 18th, the Internal Revenue Service released final regulations regarding required minimum distributions (RMDs) from retirement accounts. The final regulations reflect changes to the Internal Revenue Code made by the...more
On May 8, the IRS published proposed regulations that provide guidance regarding the information reporting of transactions with foreign trusts, the receipt of large foreign gifts and loans from, and uses of property of...more