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Latest News in Tax

  • June 02, 2020

    White House Lawyer Confirmed As Virus Relief Watchdog

    The U.S. Senate on Tuesday confirmed a White House lawyer to monitor billions, possibly trillions, in pandemic relief, with just one Democrat joining Republicans to approve the former General Services Administration watchdog.

  • June 02, 2020

    10th Circ. Affirms Solar Energy Tax Credit Scheme Owes $50M

    A Tenth Circuit panel affirmed a $50 million disgorgement order Tuesday for a solar energy company to return profits from promoting an abusive tax scheme that leased useless solar lenses to companies so they could claim solar energy tax write-offs.

  • June 02, 2020

    Increasing Donor Incentives Would Help Nonprofits, Sens. Say

    Increasing the limit on a tax deduction to encourage charitable contributions would help nonprofits as they assist families and front-line workers during the novel coronavirus pandemic, a bipartisan group of U.S. senators said Tuesday during a web conference.

  • June 02, 2020

    IRS Shutters Some Offices Amid Unrest, Agency Official Says

    The Internal Revenue Service has closed some offices because of the nationwide protests and civic unrest following the killing of George Floyd by a Minneapolis police officer, an agency deputy commissioner said Tuesday.

  • June 02, 2020

    Opportunity Zones Could Help In Virus Relief, GOP Sen. Says

    The opportunity zone program created under the 2017 tax reform law could help the novel coronavirus relief effort by providing an incentive for companies that make personal protective equipment to move to the U.S., Sen. Tim Scott, R-S.C., said Tuesday.

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