Taxpayers Reminded of Identity Protection PINs' Importance, IR-2023-134
The IRS has reminded taxpayers about the IRS Identity Protection PIN opt in program to help protect people against tax-related identity theft. "The Identity Protection (IP) PIN is the number o...

Contractors Reminded of Expanded New Energy Efficient Homes Tax Credit, IR-2023-142
The IRS has reminded eligible contractors who build or substantially reconstruct qualified new energy efficient homes that they might qualify for a tax credit up to $5,000 per home under Code Sec...

IRS Reminds Educators About Expense Deductions in 2023, IR-2023-150
The IRS has reminded eligible educators that they will be able to deduct out of pocket classroom expenses upto $300 while filing their federal income tax returns next year. If the taxpayer is...

IRS Warns About ESOP Compliance Issues, IR-2023-144
As part of ensuring high income taxpayers pay what they owe, the IRS warned businesses and tax professionals to be alert to a range of compliance issues associated with Employee Stock Ownership ...

Rates Used in Computing Special Use Value Issued, Rev. Rul. 2023-15
The 2023 interest rates to be used in computing the special use value of farm real property for which an election is made under Code Sec. 2032A were issued by the IRS.In the ruling, the ...

CA - Business expense deductions for officer compensation properly disallowed
For California corporate income tax purposes, a gas station and convenience store operator (corporation) was properly disallowed business expense deductions for officer compensation paid to its owners...