News & Analysis as of

Reporting Requirements Internal Revenue Service New Guidance

McDermott Will & Emery

IRS Roundup April 1 – April 17, 2025

The IRS issued Notice 2025-19, inviting the public to submit recommendations for items to include in the IRS’s 2025-2026 Priority Guidance Plan. The IRS uses the Priority Guidance Plan to identify and prioritize the tax...more

Bass, Berry & Sims PLC

IRS Guidance Regarding ACA Employer Information Reporting Requirements

Bass, Berry & Sims PLC on

As announced in our previous HR Law Talk blog post, the Paperwork Burden Reduction Act (PBRA) made important changes to employers’ responsibilities to furnish information to employees under the Affordable Care Act (ACA). As...more

Ballard Spahr LLP

IRS Changes Course on Income Tax Impact of Employee Retention Credit

Ballard Spahr LLP on

On March 20, 2025, the IRS updated its guidance to employers that claimed the employee retention credit (ERC). The updated guidance materially differs from prior IRS guidance of how and when employers should report the income...more

Venable LLP

IRS Issues Guidance Regarding ACA Reporting

Venable LLP on

Laws enacted at the end of 2024 made important changes to the ACA reporting requirements. The laws codified an alternative option for furnishing certain forms to individuals and authorized the IRS to issue new guidance on the...more

Keating Muething & Klekamp PLL

Benefits Monthly Minute - February 2025

The February Monthly Minute highlights a new online ACA reporting alternative, the DOL’s temporary policy regarding escheatment of small retirement benefits owed to missing participants, and new guidance clarifying the gag...more

Ogletree, Deakins, Nash, Smoak & Stewart,...

IRS Issues Guidance on Federal Tax Treatment of State Paid Family and Medical Leave Contributions and Benefits

The Internal Revenue Service (IRS) has released new guidance on the federal income and employment tax treatment of contributions and benefits paid under state paid family and medical leave (PFML) statutes. This guidance also...more

Jones Day

New Guidance from the Treasury Department on 1% Corporate Stock Buyback Tax

Jones Day on

On April 9, 2024, the U.S. Treasury Department ("Treasury") issued proposed regulations and reporting requirements providing further guidance on the non-deductible 1% excise tax that was enacted on August 16, 2022 (as Section...more

Cadwalader, Wickersham & Taft LLP

IRS Says Crypto Protocol Changes Are Not Taxable

On April 21, 2023, the IRS released Chief Counsel Advice Memorandum 202316008 (the “CCA”), which provides that cryptocurrency protocol changes are not treated as realization events and do not give rise to gross income for...more

Proskauer - Tax Talks

Recent Legislative Proposals and IRS Guidance on the Taxation of Digital Assets

Proskauer - Tax Talks on

This blog post summarizes recent federal bills that have been introduced (but not yet passed), proposals by the Biden Administration, and guidance issued by the Internal Revenue Service with respect to the taxation of digital...more

McDermott Will & Emery

Proposed Tax and Reporting for Digital Assets

McDermott Will & Emery on

On June 7, 2022, Senators Cynthia Lummis (R-WY) and Kirsten Gillibrand (D-NY) introduced the highly anticipated Responsible Financial Innovation Act (the bill), which sets out to create the first complete regulatory and...more

McDermott Will & Emery

IRS Releases Guidance on Cryptocurrency Hard Forks

On April 9, 2021, the Internal Revenue Service (IRS) released Chief Counsel Advice memo 202114020 (Hard Fork CCA), which details the potential tax consequences for taxpayers who held Bitcoin prior to the August 1, 2017,...more

Ruder Ware

IRS Issues New Guidance for Complying with Paid Sick and Family Leave Reporting Requirements

Ruder Ware on

Way back in March, as the pandemic began to set in, Congress quickly passed the Families First Coronavirus Response Act (the Act) as part of a barrage of legislation aimed at providing relief to American workers. The Act...more

McDermott Will & Emery

The Legal Effect of IRS Pronouncements on Virtual Currency

Given limited guidance by US tax authorities regarding taxation of virtual currency activities, taxpayers with such holdings may find themselves in uncharted territory as to whether to take positions that are contrary to IRS...more

Proskauer - Blockchain and the Law

IRS Issues New Guidance for Virtual Currency Donations

The U.S. Internal Revenue Service (IRS) quietly added two new questions and answers regarding virtual currency donations to its answers to Frequently Asked Questions on Virtual Currency Transactions (FAQs) on December 26,...more

Ogletree, Deakins, Nash, Smoak & Stewart,...

An IRS Holiday Gift: 2019 Affordable Care Act Reporting Relief

The Internal Revenue Service (IRS) issued Notice 2019-63 on December 2, 2019 providing some relief from Affordable Care Act (ACA) reporting requirements. The notice provides relief consistent with that provided in the past...more

Kramer Levin Naftalis & Frankel LLP

Virtual Currency

On Oct. 9, 2019, the Internal Revenue Service (the “Service”) issued Revenue Ruling 2019-24 concerning the tax consequences of virtual currency hard forks, as well as FAQs on the taxation of virtual currency generally. This...more

McDermott Will & Emery

Still Tax, Even Without the Distributed Cash

McDermott Will & Emery on

The IRS recently issued guidance on the tax treatment, withholding and reporting for required distributions from tax-qualified retirement plans. Plan sponsors should contact their retirement vendors and trustees to ensure...more

Eversheds Sutherland (US) LLP

IRS provides long-awaited cryptocurrency guidance

On October 9, 2019, the Internal Revenue Service (IRS) issued guidance addressing select issues involving the tax treatment of virtual currency transactions and reminding taxpayers of their reporting obligations. The...more

A&O Shearman

IRS Issues Virtual Currency Tax Guidance on Forks and Airdrops

A&O Shearman on

On October 9, 2019, the Internal Revenue Service (the “IRS”) issued Revenue Ruling 2019-24 (the “Revenue Ruling”) and questions and answers (the “Q&A” and, together with the Revenue Ruling, the “Guidance”) addressing certain...more

Holland & Knight LLP

New Guidance on Opportunity Zones: Highlights for Real Estate Owners and Developers

Holland & Knight LLP on

• The U.S. Department of the Treasury issued a second tranche of proposed regulations to implement and clarify the new Opportunity Zone Tax Incentive. • These regulations expand previous guidance issued last October...more

Snell & Wilmer

IRS Amends Program for Offshore Voluntary Disclosures

Snell & Wilmer on

On September 28, 2018, the Internal Revenue Service (IRS) ended its 2014 Offshore Voluntary Disclosure Program (OVDP). The 2014 OVDP (which was an extension of the 2009 and 2011 OVDPs) was meant to allow taxpayers who...more

Rosenberg Martin Greenberg LLP

Offshore Update: IRS Releases Memorandum Addressing Updates to Voluntary Disclosure Practice After Closing Offshore Voluntary...

Now, More than Ever, Taxpayers with Lingering Offshore Tax Non-Compliance Must Seek Professional Assistance - On November 20, 2018, the Internal Revenue Service (“the Service”) released a memorandum containing important...more

Proskauer - Tax Talks

IRS Updates FATCA FAQs, Addresses January Temporary Regulations

Proskauer - Tax Talks on

On April 6, 2017, the Internal Revenue Service (the IRS) added three new frequently asked questions to its Foreign Account Tax Compliance Act (“FATCA”) compliance page, which is available only online. These additional FAQs...more

Snell & Wilmer

If You Blinked You Might Have Missed Important Affordable Care Act Guidance

Snell & Wilmer on

Notice 2015-87 issued by the IRS on December 16, 2015, provides guidance on numerous Affordable Care Act provisions. Below are some of the highlights....more

Morrison & Foerster LLP

MoFo Tax Talk - Volume 8, No. 3

Final and Temporary Dividend Equivalent Regulations Issued – Some Good, Some Bad, And Some Ugly: On September 17, 2015, the Internal Revenue Service (“IRS”) released final and temporary regulations under Section 871(m),...more

26 Results
 / 
View per page
Page: of 2

"My best business intelligence, in one easy email…"

Your first step to building a free, personalized, morning email brief covering pertinent authors and topics on JD Supra:
*By using the service, you signify your acceptance of JD Supra's Privacy Policy.
- hide
- hide