IRA

The IRS has issued Notice 2024-26, providing an administrative exemption from the electronic filing requirement for Form 1042, Annual Withholding Tax Return for U.S. Source Income of Foreign Persons, otherwise required to be electronically filed in calendar year 2024.

The IRS has announced the postponement of certain tax-related deadlines for victims of severe storms, tornadoes and flooding in Michigan.

The Federal Emergency Management Agency (FEMA) issued a disaster declaration on February 19, 2024, for California severe storm and flooding, for the incident period of January 21, 2024–January 23, 2024.

The IRS has issued Revenue Ruling 2024-04, which contains the applicable federal rates (AFR) for March 2024.

The IRS has announced the postponement of certain tax-related deadlines for victims of severe storms, flooding, landslides, and mudslides in West Virginia.

Representative Richard Neal (D-MA), House Ways and Means Committee Ranking Member, has introduced the Automatic IRA Act of 2024.

The Internal Revenue Service (IRS) has released final regulations that provide de minimis error safe harbor exceptions to penalties for failure to file correct information returns or furnish correct payee statements.

The Federal Emergency Management Agency (FEMA) issued a disaster declaration on January 30, 2024, for Maine severe storms and flooding, for the incident period of December 17, 2023 – December 21, 2023.

The Federal Emergency Management Agency (FEMA) issued a disaster declaration on January 30, 2024, for West Virginia severe storms, flooding, landslides, and mudslides, for the incident period of August 28, 2023 – August 30, 2023.

The IRS has announced the postponement of certain tax-related deadlines for victims in parts of Connecticut affected by severe storms, flooding, and a potential dam breach.