Presented below is our summary of significant Internal Revenue Service (IRS) guidance and relevant tax matters for the week of September 12, 2022 – September 16, 2022.
Transition rules allow opportunity to avoid taxable income when modifying financial contracts from IBOR to another metric Contracts dependent on a discontinued interbank offered rate.
Brief commentary on recent cases, rulings, notices, and related federal tax guidance. Regulations open door for cloud computing, streaming, and related electronic services to be.
CFR Part: "26 CFR Parts 1 and 301". Agency: " Internal Revenue Service, Treasury." DATES: Written or electronic comments and requests for a public hearing must be received by February 4, 2022.