Service: Federal Tax
Bipartisan infrastructure bill passes House with bipartisan vote. President Biden expected to sign by end of next week.
House Ways and Means issues its discussion draft amendment with revenue items to offset $3.5 trillion spending package.
Senator Wyden’s recent ‘discussion draft’ legislation, if enacted, would drastically alter many of the tax rules that apply to partnerships.
The IRS released guidance allowing automatic accounting method changes for taxpayers to follow the final revenue recognition regulations.
A discussion on the IRS concern with non-filers and what can be done to mitigate the risk is provided in this article.