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IRS Issues Safe Harbor for Section 45Q Carbon Capture Credits

On December 19, 2025, the IRS issued Notice 2026-1, providing a safe harbor for taxpayers seeking to claim the federal income ...
JD Supra

IRS issues updated guidance on Section 163(j) business interest limitation: Key changes under OBBBA

The Internal Revenue Service recently updated guidance in Fact Sheet FS-2025-09 (Fact Sheet) to address changes to the ...
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IRS Provides Initial Guidance on Code Section 48C Qualifying Advanced Energy Project Credit

The Inflation Reduction Act of 2022 (the “IRA”) added and modified certain energy tax credit provisions of the U.S. Internal Revenue Code of 1986, as amended (the “Code”). [1] The modifications ...
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IRS creates a standardized Section 83(b) Election form

On November 7, 2024, the U.S. Internal Revenue Service (the IRS) released Form 15620, 1 which standardizes elections under section 83(b) of the Internal Revenue Code of 1986, as amended (the “Code,” ...
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IRS Issues Updated Safe Harbor Rollover Notices

Retirement plan sponsors should take note of new IRS safe harbor rollover notices. As a reminder, section 402(f) of the ...
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IRS Issues Practice Unit on Section 965 Transition Tax

One of the most pressing audit issues for large taxpayers today centers on the Internal Revenue Code (Code) Section 965 transition tax. The Internal Revenue Service (IRS) has designated Code Section ...
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Can the IRS Assert IRC Section 6676’s Erroneous Refund Penalty on Protective Refund Claims?

We once again want to bring to your attention the Internal Revenue Service’s (IRS) new favorite penalty provision: Internal Revenue Code (IRC) Section 6676. We have reported on this provision several ...
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IRS Issues Proposed Regulations Under Code Section 162(m)

The 2017 Tax Cuts and Jobs Act (TCJA) significantly amended Internal Revenue Code Section 162(m), which generally disallows the deduction of compensation in excess of $1 million paid by a “publicly ...
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IRS Creates Standardized Form for Section 83(b) Elections

Earlier this month, the Internal Revenue Service (“IRS”) released Form 15620, which is an approved IRS form for making Internal Revenue Code (“Code”) Section 83(b) elections. By way of background, ...