BBA Overhauls Partnership Audit Rules, Increasing Complexity for Tax Filings
The Bipartisan Budget Act of 2015 (BBA) overhauled partnership audit rules, creating strict procedures for amending tax returns (Administrative Adjustment Requests or AARs) filed from 2018, impacting partnerships and partners through increased complexity and potential IRS scrutiny.
BBA Overhauls Partnership Audit Rules, Increasing Complexity for Tax Filings
The Bipartisan Budget Act of 2015 (BBA) overhauled partnership audit rules, creating strict procedures for amending tax returns (Administrative Adjustment Requests or AARs) filed from 2018, impacting partnerships and partners through increased complexity and potential IRS scrutiny.
Progress
44% Bias Score
IRS Restricts Taxpayer Appeals, Shifting Dispute Resolution to Courts
The IRS finalized regulations on January 15, 2025, preventing its Independent Office of Appeals from reviewing taxpayer challenges to IRS guidance, forcing taxpayers to litigate in federal courts, starting February 14, 2025.
IRS Restricts Taxpayer Appeals, Shifting Dispute Resolution to Courts
The IRS finalized regulations on January 15, 2025, preventing its Independent Office of Appeals from reviewing taxpayer challenges to IRS guidance, forcing taxpayers to litigate in federal courts, starting February 14, 2025.
Progress
44% Bias Score
Greek Tax Assessment Power Expires: Implications for Audits and VAT Deductions
Greece's tax authority lost the right to assess taxes for years up to 2018 at the end of 2024; this affects tax audits and reassessments, as shown in cases involving controlled foreign companies and VAT deductions, with the EU Court of Justice emphasizing the irrelevance of service necessity for VAT...
Greek Tax Assessment Power Expires: Implications for Audits and VAT Deductions
Greece's tax authority lost the right to assess taxes for years up to 2018 at the end of 2024; this affects tax audits and reassessments, as shown in cases involving controlled foreign companies and VAT deductions, with the EU Court of Justice emphasizing the irrelevance of service necessity for VAT...
Progress
20% Bias Score
Key 2025 Federal Tax Changes for Employees
The 2025 Social Security wage base is $176,100; supplemental income tax withholding is 22%; and the 401(k) contribution limit is $23,500 ($31,000 for those 50 and older).
Key 2025 Federal Tax Changes for Employees
The 2025 Social Security wage base is $176,100; supplemental income tax withholding is 22%; and the 401(k) contribution limit is $23,500 ($31,000 for those 50 and older).
Progress
28% Bias Score
Chevron Doctrine Overruling Increases IRS Scrutiny and Tax Litigation
The Supreme Court's overturning of the Chevron Doctrine in June 2024 eliminated deference given to agency interpretations of statutes; this will increase tax litigation in 2025 as courts review agency actions and the IRS, with increased funding from the Inflation Reduction Act, enforces regulations ...
Chevron Doctrine Overruling Increases IRS Scrutiny and Tax Litigation
The Supreme Court's overturning of the Chevron Doctrine in June 2024 eliminated deference given to agency interpretations of statutes; this will increase tax litigation in 2025 as courts review agency actions and the IRS, with increased funding from the Inflation Reduction Act, enforces regulations ...
Progress
44% Bias Score
Loper Bright and its Impact on Tax Administration
The Supreme Court's *Loper Bright* decision eliminates Chevron deference, requiring courts to interpret statutes independently, increasing challenges to Treasury Regulations and potentially reshaping the balance of power between courts and agencies in tax administration.
Loper Bright and its Impact on Tax Administration
The Supreme Court's *Loper Bright* decision eliminates Chevron deference, requiring courts to interpret statutes independently, increasing challenges to Treasury Regulations and potentially reshaping the balance of power between courts and agencies in tax administration.
Progress
32% Bias Score
Expiring Tax Provisions of 2017 TCJA Prompt Major 2025 Tax Debate
The 2017 Tax Cuts and Jobs Act (TCJA) introduced significant tax changes, many of which are set to expire at the end of 2025, causing uncertainty for taxpayers and prompting a major tax policy debate with potential $4.6 trillion costs over 10 years for full extension.
Expiring Tax Provisions of 2017 TCJA Prompt Major 2025 Tax Debate
The 2017 Tax Cuts and Jobs Act (TCJA) introduced significant tax changes, many of which are set to expire at the end of 2025, causing uncertainty for taxpayers and prompting a major tax policy debate with potential $4.6 trillion costs over 10 years for full extension.
Progress
40% Bias Score
Camp Fire Victims to Receive $30 Million in Tax Refunds
The 2018 Camp Fire in Paradise, California, led to a $10 billion trust fund for victims; however, a change in tax law resulted in double taxation on settlements. A new law will now refund approximately $30 million to 3,500 victims, with payouts expected to begin in July.
Camp Fire Victims to Receive $30 Million in Tax Refunds
The 2018 Camp Fire in Paradise, California, led to a $10 billion trust fund for victims; however, a change in tax law resulted in double taxation on settlements. A new law will now refund approximately $30 million to 3,500 victims, with payouts expected to begin in July.
Progress
56% Bias Score
Retirement Account Beneficiary Errors Lead to Significant Financial Losses
Two court cases highlight significant financial losses from neglecting retirement account details; in one, a former girlfriend inherited \$754,000; in another, children lost their inheritance due to a lack of updated beneficiary information after an employer acquisition.
Retirement Account Beneficiary Errors Lead to Significant Financial Losses
Two court cases highlight significant financial losses from neglecting retirement account details; in one, a former girlfriend inherited \$754,000; in another, children lost their inheritance due to a lack of updated beneficiary information after an employer acquisition.
Progress
48% Bias Score