Tag Archive: Internal Revenue Service (IRS)

Tax Gap as Pay-For: What it Means

July 14, 2021 1:30 pm Published by

The latest infrastructure proposal includes a $100 billion pay-for by closing the tax gap through increased IRS enforcement, which could be a problem for small businesses.

New Opportunity Zone Program

October 31, 2018 3:56 pm Published by

The IRS has unveiled proposed rules for the new Opportunity Zone program which encourages investment into low-income communities.

NSBA Analysis on Passthrough Deduction

August 15, 2018 2:44 pm Published by

Last week, Treasury and the IRS released proposed regulations on the pass-through deduction portion of the Tax Cuts and Jobs Act, including more detailed guidance for these type of businesses.

Taxpayer Advocate Mid-Year Report

July 11, 2018 3:35 pm Published by

Recently, Taxpayer Advocate Nina Olson released a report to Congress outlining the top issues of focus for FY 2019 and how the new tax overhaul will be implemented.

Tax Law Guidance Forthcoming

March 7, 2018 5:06 pm Published by

Treasury and the IRS are developing guidance documents under the 2017 tax reform law, however guidance for pass-through income could be delayed until summer or fall.

Small Biz Tax Simplification Act Introduced

February 7, 2018 7:42 pm Published by

House Small Business Committee leadership introduced legislation to simplify and modernize the tax code for small businesses, startups, and entrepreneurs. by aligning payment deadlines and tax filing thresholds, and streamlining reporting requirements.

IRS Withdraws Proposed Regs

April 27, 2016 8:40 am Published by

The IRS announced it will withdraw proposed regulations relating to nondiscrimination requirements in retirement plans which would have made it much harder for small businesses to keep or form new retirement plans. NSBA Past Chairman Gary Kushner played an instrumental role in scoring this major win for small businesses retirement plans and the employees who benefit from them.

Bicameral Bills Restore HRAs for Small Businesses

July 22, 2015 11:55 am Published by

Recently, Congress introduced the Small Business Healthcare Relief Act that would expand small-businesses access to Health Reimbursement Arrangements and enable employees to get reimbursed for certain medical expenses.

Taxpayer Advocate Releases Annual Report

January 22, 2015 12:37 pm Published by

The National Taxpayer Advocate the 2014 annual report to Congress, which expresses concern that taxpayers this year are likely to receive the worst levels of taxpayer service since at least 2001.