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Current Developments: May 2024 Review

17 May 2024, 9:00 am

From a new Internal Revenue Service (IRS) notice that extends relief for some beneficiaries of inherited individual retirement accounts (IRAs) to the release of a final rule by the Social Security Administration (SSA) omitting food from Supplemental Security Income (SSI) in-kind support and maintenance calculations and a US Supreme Court case clarifying the harm that must be shown for employees to make a Title VII discrimination claim, we have recently seen… [read post]

WealthCounsel Blog - https://info.wealthcounsel.com/blog

Spin-Offs: Updated IRS Guidance on Private Letter Rulings

17 May 2024, 3:00 am by John Jenkins

Here’s the intro: The Internal Revenue Service (the “IRS”) and the Treasury Department (“Treasury”) have released Rev. [read post]

DealLawyers.com Blog - http://www.deallawyers.com/Blog/

The IRS and DOJ are Targeting PPP and ERC Fraud with Criminal Investigations in Virginia

16 May 2024, 9:00 pm

The Internal Revenue Service (IRS) and U.S. [read post]

Thorn Law Group Blog - http://www.virginia-tax-lawyer.com/blog/

PPP and ERC Fraud Remain Prime Targets for IRS and DOJ Investigations in 2024

16 May 2024, 9:00 pm

While it has been four years since Congress established the paycheck protection program (PPP) and employee retention credit (ERC) under the CARES Act, pandemic-related fraud remains a prime target for both the Internal Revenue Service (IRS) and the U.S. [read post]

Thorn Law Group Blog - http://www.thorntaxlaw.com/blog/

Five Things on the Department of Labor’s Radar for Employee Benefit Plans

16 May 2024, 1:24 pm by bklemm@foley.com

This article discusses some of these requirements and related guidance issued by the DOL, the Internal Revenue Service (IRS) and the Pension Benefit Guaranty Corporation (PBGC), as well as some related future guidance to be issued by the DOL as required by SECURE Act 2.0. 1. [read post]

Labor & Employment Law Perspectives - https://www.foley.com/en/insights/blogs/labor-employment-law-perspectives

IRS CP59 Notice: What to Expect, How to Respond

15 May 2024, 9:50 am by Wiggam Law

Receiving a notice from the Internal Revenue Service (IRS) can be a cause for concern, especially if you’re not sure what the notice means or why you’re receiving it. [read post]

Bankruptcy and Tax Blog - https://wiggamgeer.com/blog/

Nonprofit 990 Tax Compliance: Navigating Challenges with an Enrolled Agent

15 May 2024, 7:00 am by Mike Habib, EA

This article explores common tax compliance issues faced by nonprofits and how an Enrolled Agent (EA) can help resolve these problems, with references to relevant Internal Revenue Code (IRC) sections, preparation, planning and compliance requirements. 1. [read post]

Tax Relief Blog - http://blog.myirstaxrelief.com/

Is a Personal Injury Settlement Taxed?

13 May 2024, 5:00 am by David Lillesand

The Internal Revenue Service (IRS) typically considers compensation for emotional distress, mental harm, and mental illness as taxable income received. [read post]

Florida Special Needs Law Blog - http://www.floridaspecialneedslaw.com/

California Regulations: Charitable Fundraising Platforms and Platform Charities – Part 1

11 May 2024, 12:58 pm by Gene Takagi

Good Standing Requirements ( effective March 26, 2024) A CFP or PC may only solicit, permit, or otherwise enable solicitations, or receive, control, or distribute funds from donations or recommended donations for charitable organizations in good standing with the Internal Revenue Service (IRS), the Franchise Tax Board (FTB), and the Attorney General (AG). [read post]

Nonprofit Law Blog - http://www.nonprofitlawblog.com/

What You Should Know About Tax Evasion and Tax Fraud in New Jersey

9 May 2024, 9:00 pm

Now that tax season has come and gone, it’s audit season for the Internal Revenue Service (IRS). [read post]

Helmer, Conley & Kasselman, P.A. Blog - https://www.helmerlegal.com/blog/

What Employers Need to Know About the Required Pension Plan Restatement: A Plain Language Explanation

8 May 2024, 4:34 pm by Jerry Kalish

Employers who have adopted a pre-approved Pension Plan – either traditional Defined Benefit or Cash Balance – must restate their plans by March 31, 2025 to stay in compliance with the Internal Revenue Code (“Code”) and Internal Revenue Service (“IRS”) regulations. [read post]

Retirement Plan Blog - http://www.retirementplanblog.com/

IRS Holds Two-Day Hearing on Proposed Donor-Advised Fund Regulations

7 May 2024, 10:00 pm