Month: November 2020

Final Regulations Clarify Section 1031 Like-Kind Exchanges

The Internal Revenue Service and the Treasury Department have issued their final regulations on section 1031 like-kind exchanges. The regulations clarify the definition of real property under section 1031, while providing a rule governing the receipt of personal property incidental to real property in a like-kind exchange.… Read more about Final Regulations Clarify Section 1031 Like-Kind Exchanges (Feed generated with FetchRSS) – Story provided by TaxingSubjects.com…

IRS to Mask Key Details on Business Transcript

After Dec. 12, business tax transcripts will soon be a little less informative—for good reason. The IRS will start masking sensitive data on the transcripts to protect businesses from identity theft beginning Dec. 13.… Read more about IRS to Mask Key Details on Business Transcript (Feed generated with FetchRSS) – Story provided by TaxingSubjects.com…

IRS Investigators Make Big Advances in a Busy 2020

Fiscal Year 2020 was a very busy—and productive—year for the IRS’ Criminal Investigations unit. The just-released annual report for CI Division touts the unit’s identification of more than $10 billion in tax fraud and other financial crimes, despite the limitations of the COVID-19 pandemic.… Read more about IRS Investigators Make Big Advances in a Busy 2020 (Feed generated with FetchRSS) – Story provided by TaxingSubjects.com…

Get Started Now to Make Next Tax Season Easier

With 2020’s extended tax deadlines due to the coronavirus pandemic, it seems like we just wrapped up the previous tax season. But believe it or not, the next filing season kicks off Jan. 1, 2021.… Read more about Get Started Now to Make Next Tax Season Easier (Feed generated with FetchRSS) – Story provided by TaxingSubjects.com…