Final regs. issued on payments to charitable organizations

Executive order delays workers’ payroll tax payments

President Donald Trump on Saturday issued an executive order to defer the withholding, deposit, and payment of certain payroll taxes paid from Sept. 1 through Dec. 31, 2020. The presidential memorandum was one of four the president issued on Saturday as congressional...

TIGTA critiques IRS’s protection of taxpayer data

The IRS continues to have challenges protecting taxpayer data, and especially ensuring that its various applications provide complete and accurate audit trails, according to the Treasury Inspector General for Tax Administration (TIGTA). TIGTA issued a report that...

Proposed rules govern carried interests

The IRS issued proposed regulations (REGS-107213-18) on the tax treatment of carried interests. Carried interests are ownership interests in a partnership that share in the partnership’s net profits. They are often transferred in connection with the...