Brent Lipschultz News Today

Tax professionals and their clients are dealing with extra challenges this tax season from tax breaks that ended last year and haven’t yet been extended, including the enhanced Child Tax Credit.

The Internal Revenue Service is providing relief from filing a Schedule K-2 or K-3 information report this year for some partnerships without foreign activities.

The American Institute of CPAs sent a letter to Congress’s tax-writing committees asking lawmakers to reconsider the rules around the corporate minimum tax rate that’s currently part of the reconciliation bill now under consideration.

The new plan from Senate Democrats would tax unrealized gains of people worth at least $1 billion or making at least $100 million a year.

The new plan from Senate Democrats would tax unrealized gains of people worth at least $1 billion or making at least $100 million a year.

Two of the most generous tax loopholes are on the chopping block, the latest surprise in emerging tax increases.