Donating property for a conservation easement is a way to preserve land for the future. It can also bring the donor hefty tax breaks, which is why the IRS closely scrutinizes such donations. To qualify for tax deductions, donations must meet specific reporting and disclosure requirements and a qualified appraisal must establish the donation’s value. […]

The IRS unveils higher capital gains tax brackets for 2025 – CNBC https://bit.ly/4fdg3Vf 

Health insurers, employers that sponsor self-insured health plans and other minimum essential coverage providers are required to report certain coverage information to the IRS. The tax agency uses it to determine employer shared responsibility penalties and eligibility for premium tax credits under the Affordable Care Act (ACA). The IRS has just released final forms and […]

The U.S. Supreme Court has upheld a U.S. District Court ruling that denied research and development tax credits claimed by a married couple. The taxpayers own a construction company operating as an S corporation, and the lower court had ruled that the corporation’s projects failed to meet the business components test. It also found the […]

When natural disasters occur, the U.S. government often declares affected counties as federal disaster areas. The relief associated with these declarations typically extends tax filing and other deadlines for individuals and businesses. The Treasury Inspector General for Tax Administration (TIGTA) has determined that the IRS must provide greater clarification regarding the timeframe for which business […]

The IRS has issued final regs that formally classify certain syndicated conservation easements as “listed transactions.” These transactions will be subject to reporting and disclosure rules designed to combat tax avoidance schemes. Indeed, syndicated conservation easements have been on the IRS’s annual Dirty Dozen list of tax schemes for many years. In these transactions, investors […]