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November 30, 2022 ¡ª United States Attorney Duane A. Evans announced that Rene Clement ("Clement"), of Houma, Louisiana, was charged with failing to account for and pay federal income taxes and Federal Insurance Contributions Act ("FICA") taxes, in violation of Title 26, United States Code, Section 7202.

April 30, 2025 ¡ª Marc H. Silverman, Acting United States Attorney for the District of Connecticut, today announced that Justin C. Murphy of Stamford, pleaded guilty yesterday before U.S. District Judge Victor A. Bolden in New Haven to offenses stemming from an investment fraud scheme.

Information about Form 1041, U.S. Income Tax Return for Estates and Trusts, including recent updates, related forms and instructions on how to file. Form 1041 is used by a fiduciary to file an income tax return for every domestic estate or domestic trust for which he or she acts.

IR-2023-108, May 31, 2023 ¡ª The Department of the Treasury and the Internal Revenue Service today issued Notice 2023-44 to provide more details for applicants seeking section 48C credit allocations in the qualifying advanced energy project credit allocation program under the Inflation Reduction Act.

Form 15288, Request to Revoke Partnership Election under IRC Section 6221(b) or Request to Revoke Election under 1101(g)(4), is used by a partnership to revoke an election out of Bipartisan Budget Act of 2015 (BBA) under 6621(b) or to revoke an early election that was made into BBA.

Public Law 115-97 (Tax Cuts and Jobs Act of 2017) enacted section 951A, which requires U.S. shareholders of CFCs to include GILTI in gross income. Form 8992, U.S. Shareholder Calculation of Global Intangible Low-Taxed Income (GILTI), is used by U.S. shareholders to determine their GILTI inclusion.

Public Law 115-97 (Tax Cuts and Jobs Act of 2017) enacted section 951A, which requires U.S. shareholders of CFCs to include GILTI in gross income. Form 8992, U.S. Shareholder Calculation of Global Intangible Low-Taxed Income (GILTI), is used by U.S. shareholders to determine their GILTI inclusion.

Form 921-I, Consent Fixing Period of Limitation on Assessment of Income and Profits Tax should be used by investors in the electing S-Corporation, Partnership, Limited Liability Company, Trust, Syndicate, Pool, etc. that are not subject to unified audit and litigation procedures for TEFRA (Tax Equity & Fiscal Responsibility Act) partnerships.

For tax years beginning after December 31, 2006, the Small Business and Work Opportunity Tax Act of 2007 (Public Law 110-28) provides that a "qualified joint venture", whose only members are a married couple filing a joint return, can elect not to be treated as a partnership for Federal tax purposes.

Nov. 21, 2024 ¡ª A former Blue Springs, Mo., woman pleaded guilty in federal court today for her role in a conspiracy that resulted in more than $220,000 in fraudulent Paycheck Protection Program (PPP) loans being issued under the Coronavirus Aid, Relief, and Economic Security (CARES) Act.