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Breaking Down The Section 48 Investment Tax Credit Proposed Regulations - Renewables - Vimarsana News

Breaking Down The Section 48 Investment Tax Credit Proposed Regulations - Renewables

Published: November 30, 2023

The U.S. Department of the Treasury and IRS on Nov. 17, 2023, released long-awaited proposed regulations (Proposed Regulations) regarding the investment tax credit (ITC) under Section 48 of the Internal Revenue Code.

Source: mondaq.com
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The US Tax Court Rules The IRS Lacks Statutory Authority To Assess International Information Return Penalties - Tax Authorities - Vimarsana News

The US Tax Court Rules The IRS Lacks Statutory Authority To Assess International Information Return Penalties - Tax Authorities

Published: May 5, 2023

On April 3, 2023, the Tax Court in Farhy v. Commissioner rejected IRS efforts to impose penalties on a taxpayer's failure to file Form 5471. According to the Tax Court, these foreign...

Source: mondaq.com
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Tax CourtUs CorporationCongress DecForeign CorporationCourt ReasoningInternal Revenue CodeInformation ReturnWith RespectCertain Foreign CorporationsAlon FarhyCollection Due ProcessInternal Revenue ManualCertain Foreign PartnershipsForeign Corporation EngagedForeign Financial AssetsGeneral ExplanationLegislation EnactedThe Us Tax Court Rules Irs Lacks Statutory Authority To Assess International Information Return PenaltiesIncome TaxTax Authorities