Tax News Highlights

Tax News Highlights

Each issue features information on the latest tax developments in an easy-to-scan format to help you keep pace with valuable federal, state and local, and international tax updates.

Recent updates

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Trump Issues Trade-Related Memorandum
Trump Issues Trade-Related Memorandum
On his first day in office, President Trump issued a trade-related memorandum previewing his trade policy changes to come.
Final Regulations on Partnership Recourse Liabilities
Final Regulations on Partnership Recourse Liabilities
After 11 years, the IRS and Treasury have finalized proposed regulations relating to the application of allocating partnership recourse liabilities.
IRS Announces Relief for California Wildfire Victims
IRS Announces Relief for California Wildfire Victims
In the wake of the devastating wildfires in Southern California, the IRS has put relief measures in place for qualifying taxpayers.
IRS Regulation Blitz
IRS Regulation Blitz
As the Biden administration transitions out of office, the IRS and Treasury are racing to finish and publish guidance that was in process.
Chicago Enacts Significant Tax Increases
Chicago Enacts Significant Tax Increases
Though a property tax increase is not included in Chicago’s recently approved budget, city taxpayers should expect other significant tax increases.
IRS Releases Draft Form 6765 and Instructions
IRS Releases Draft Form 6765 and Instructions
The IRS released a draft of Form 6765 and instructions, which includes increased requirements for calculating and substantiating credits.
Trump Issues Trade-Related Memorandum
Trump Issues Trade-Related Memorandum
On his first day in office, President Trump issued a trade-related memorandum previewing his trade policy changes to come.
Final Regulations on Partnership Recourse Liabilities
Final Regulations on Partnership Recourse Liabilities
After 11 years, the IRS and Treasury have finalized proposed regulations relating to the application of allocating partnership recourse liabilities.
IRS Announces Relief for California Wildfire Victims
IRS Announces Relief for California Wildfire Victims
In the wake of the devastating wildfires in Southern California, the IRS has put relief measures in place for qualifying taxpayers.
IRS Regulation Blitz
IRS Regulation Blitz
As the Biden administration transitions out of office, the IRS and Treasury are racing to finish and publish guidance that was in process.
Chicago Enacts Significant Tax Increases
Chicago Enacts Significant Tax Increases
Though a property tax increase is not included in Chicago’s recently approved budget, city taxpayers should expect other significant tax increases.
IRS Releases Draft Form 6765 and Instructions
IRS Releases Draft Form 6765 and Instructions
The IRS released a draft of Form 6765 and instructions, which includes increased requirements for calculating and substantiating credits.
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Crowe tax professionals review the new Section 174 rules and address issues considering the limited IRS guidance. 
Organizations need to consider environmental, social, and governance (ESG) tax planning to comply with potential requirement changes and be competitive.

The 2022 midterm elections created a lot of uncertainty and a divided Congress. How will that impact tax oversight and legislation?

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Rochelle Hodes
Rochelle Hodes
Principal, Washington National Tax