The Tax Professionals Blog

Highlights of Internal Revenue Bulletin 2024-46 – 11/12/2024

Posted by Lee Reams Sr., BSME, EA on

IRS Bulletin 2024-46 brings updates on income tax, including the new requirements for manufacturers to qualify for credits under § 25C and an extension of FATCA reporting relief.

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IRD Income and the Frequently Overlooked Estate Tax Deduction

Posted by Lee Reams Sr., BSME, EA on

Learn how to identify and calculate the estate tax deduction for income in respect of a decedent (IRD) to maximize benefits for clients with inherited taxable income.

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Highlights of Internal Revenue Bulletin 2024-45 – 11/4/2024

Posted by Lee Reams Sr., BSME, EA on

Explore IRS Bulletin 2024-45 for updates on 2025 inflation adjustments, retirement plan overpayment rules, Form 990-T extensions, SAF credit guidance, and more.

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Time-Share Use Charitable Contribution

Posted by Lee Reams Sr., BSME, EA on

Donating time-share use for charity? Learn what qualifies as a deductible contribution and what expenses can be claimed. This article explains the rules to avoid surprises at tax time.

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Highlights of Internal Revenue Bulletin 2024-44 – 10/28/2024

Posted by Lee Reams Sr., BSME, EA on

Learn about IRS Bulletin 2024-44 updates, including HDHP preventive care expansions, new tax classification rules for Tribal entities, and final rules on repatriated intangible property.

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