Al Jazeera on MSN

US tax agency broke privacy law 'approximately 42,695 times', judge says

Federal judge rules that the Internal Revenue Service violated its code by giving immigration agency confidential data.
Courthouse News Service

Judge finds IRS violated the law thousands of times by handing over taxpayer addresses to ICE

The Bill Clinton appointee found the tax agency would hand over personally identifiable information even when the immigration agency’s requests were not “legally sufficient.” ...
JD Supra

Eligibility for Significant Savings From the Sale of Qualified Small Business Stock Under Internal Revenue Code Section 1202

If you own a small business, you may qualify for significant tax savings under section 1202 of the Internal Revenue Code of 1986, as amended (Section 1202). Owners or investors of certain C ...
JD Supra

Treasury Department and IRS Issue Final Regulations Regarding the Clean Electricity Tax Credits Under Sections 45Y and 48E of the Internal Revenue Code

On January 7, 2025, the U.S. Department of Treasury (Treasury) and the Internal Revenue Service (IRS) released final regulations [TD 10024] (Final Regulations) providing guidance on the Clean ...
JD Supra

Treasury and IRS Issue Final Regulations on the Credit for Production of Clean Hydrogen Under Section 45V of the Internal Revenue Code

The final regulations retain the general framework of the proposed regulations, with some important modifications based upon comments from industry members. The acquisition and retirement of energy ...
Insurance Business America

Transparency in Coverage proposal: Federal agencies extend comment deadline

The proposal comment period impacting the Public Health Service Act, ERISA, and the Internal Revenue Code, is extended by seven days ...
JD Supra

Treasury Department and IRS Issue Final Regulations on the Advanced Manufacturing Production Credit Under Section 45X of the Internal Revenue Code

Under the final regulations, taxpayers are permitted to produce eligible components using recycled materials. Components which are sold and then later become defective will not be considered defective ...
JD Supra

IRS Issues Proposed Regulations on the Expanded Definition of "Covered Employee" Under Code Section 162(m)

On January 16, the Internal Revenue Service (IRS) published proposed regulations ( 90 FR 4691) under Section 162(m) of the Internal Revenue Code. Section 162(m) generally limits the deductibility of ...

Form 8621 Mistakes Are Triggering IRS Problems for Global Investors

VIRGINIA BEACH, VA, UNITED STATES, February 25, 2026 /EINPresswire.com/ -- Failing to disclose ownership of a Passive ...
JD Supra

IRS Proposes Regulations on Expanded Definition of Covered Employee Under Code Section 162m

Section 162(m) of the Internal Revenue Code prohibits a publicly held corporation from taking compensation-related tax deductions with respect to the compensation of a “covered employee” to the extent ...
JD Supra

Summary of Proposed Section 899 of the US Internal Revenue Code and Its Impact on Section 892 Benefits and Tax Treaties

Proposed Section 899[1], introduced as part of the “Defending American Jobs and Investment Act” (H.R. 591) and incorporated into the House Ways and Means Committee’s tax package titled “The One, Big, ...