Don Farmer's 2024 Corporate/Business Indexed Items & Other Recent Developments

Overview

Stay ahead of the latest tax developments and safeguard your business against costly mistakes. Our 2024 Corporate/Business Indexed Items & Other Recent Developments covers critical updates, including Supreme Court decisions impacting IRS regulations, the implications of the Chevron Doctrine's reversal, and the new six-year statute of limitations for suits against the U.S. Learn how to avoid hefty fines with the latest on penalties for late or incomplete information returns, including Schedules K-2 and K-3. Discover AICPA's new standards for tax services, including enhanced data protection, reliance on tools, and tax representation requirements. Maximize your deductions with updated depreciation and §179 limitations. Leverage enhanced business tax accounts and IRS initiatives while avoiding pitfalls related to new credit scams and PTIN verification.

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Highlights

Major Subjects:

• Supreme Court decisions impacting IRS regulations
• Implications of the Chevron Doctrine's reversal
• Six-year statute of limitations for suits against the U.S.
• Penalties for late or incomplete information returns
• AICPA's new standards for tax services
• Updated depreciation and §179 limitations
• Enhanced business tax accounts and IRS initiatives

Prerequisites

None

Designed For

Tax professionals

Objectives

• Recall inflation adjusted items affecting businesses in 2024.
• Recognize the effect of the Loper Bright decision.
• Identify recent changes to Statements on Standards for Tax Services.
  

Preparation

None

Notice

VSCPA