News & Analysis as of November 15, 2024

Revenue Procedures

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Income taxes are taxes that are collected on the individual earnings of persons or entities. Depending on the jurisdiction, income taxes are calculated and collected in a variety of ways. Some tax systems collect income taxes based on a progressive scheme, while others may utilize a proportional or regressive framework. less -

Weekly IRS Roundup October 7 – October 11, 2024

McDermott Will & Emery on 10/25/2024

Check out our summary of significant Internal Revenue Service (IRS) guidance and relevant tax matters for the week of October 7, 2024 – October 11, 2024. ...more

Weekly IRS Roundup September 30 – October 4, 2024

McDermott Will & Emery on 10/15/2024

Check out our summary of significant Internal Revenue Service (IRS) guidance and relevant tax matters for the week of September 30, 2024 – October 4, 2024....more

IRS Provides Additional Extensions for Taxpayers Affected by Terrorist Attacks in Israel

Fox Rothschild LLP on 10/11/2024

In Notice 2024-72, the IRS provided relief for individuals and businesses affected by terrorism in the State of Israel beginning on September 30, 2024. The new notice provides additional relief to taxpayers in Israel, as well...more

Weekly IRS Roundup August 26 – August 30, 2024

McDermott Will & Emery on 9/6/2024

Check out our summary of significant Internal Revenue Service (IRS) guidance and relevant tax matters for the week of August 26, 2024 – August 30, 2024. ...more

Weekly IRS Roundup August 19 – August 23, 2024

McDermott Will & Emery on 9/4/2024

Check out our summary of significant Internal Revenue Service (IRS) guidance and relevant tax matters for the week of August 19, 2024 – August 23, 2024. August 19, 2024: The IRS released Internal Revenue Bulletin...more

Weekly IRS Roundup July 1 – July 5, 2024

McDermott Will & Emery on 7/12/2024

Check out our summary of significant Internal Revenue Service (IRS) guidance and relevant tax matters for the week of July 1, 2024 – July 5, 2024....more

Weekly IRS Roundup June 24 – June 28, 2024

McDermott Will & Emery on 7/3/2024

Check out our summary of significant Internal Revenue Service (IRS) guidance and relevant tax matters for the week of June 24, 2024 – June 28, 2024. ...more

Weekly IRS Roundup June 17 – June 21, 2024

McDermott Will & Emery on 6/28/2024

Check out our summary of significant Internal Revenue Service (IRS) guidance and relevant tax matters for the week of June 17, 2024 – June 21, 2024. ...more

Weekly IRS Roundup June 3 – June 7, 2024

McDermott Will & Emery on 6/13/2024

Check out our summary of significant Internal Revenue Service (IRS) guidance and relevant tax matters for the week of June 3, 2024 – June 7, 2024. June 3, 2024: The IRS released Internal Revenue Bulletin 2024-23, which...more

Weekly IRS Roundup May 27 – May 31, 2024

McDermott Will & Emery on 6/7/2024

Check out our summary of significant Internal Revenue Service (IRS) guidance and relevant tax matters for the week of May 27, 2024 – May 31, 2024. ...more

Weekly IRS Roundup May 20 – May 24, 2024

McDermott Will & Emery on 6/3/2024

Check out our summary of significant Internal Revenue Service (IRS) guidance and relevant tax matters for the week of May 20, 2024 – May 24, 2024. ...more

Weekly IRS Roundup May 6 – May 10, 2024

McDermott Will & Emery on 5/17/2024

Check out our summary of significant Internal Revenue Service (IRS) guidance and relevant tax matters for the week of May 6, 2024 – May 10, 2024. ...more

Government updates procedures to change R&D, income recognition, and inventory methods in new Rev. Proc. 2024-23

Eversheds Sutherland (US) LLP on 5/13/2024

On April 30, 2024, the Internal Revenue Service (IRS) released Rev. Proc. 2024-23, List of Automatic Changes, which provides the list of tax accounting method changes a taxpayer may file under the IRS’s automatic procedures,...more

Weekly IRS Roundup April 22 – April 26, 2024

McDermott Will & Emery on 5/3/2024

Check out our summary of significant Internal Revenue Service (IRS) guidance and relevant tax matters for the week of April 22, 2024 – April 26, 2024. ...more

Weekly IRS Roundup April 15 – April 19, 2024

McDermott Will & Emery on 4/23/2024

Check out our summary of significant Internal Revenue Service (IRS) guidance and relevant tax matters for the week of April 15, 2024 – April 19, 2024. ...more

Weekly IRS Roundup April 1 – April 5, 2024

McDermott Will & Emery on 4/12/2024

Check out our summary of significant Internal Revenue Service (IRS) guidance and relevant tax matters for the week of April 1, 2024 – April 5, 2024....more

Weekly IRS Roundup March 18 – March 22, 2024

McDermott Will & Emery on 3/29/2024

Check out our summary of significant Internal Revenue Service (IRS) guidance and relevant tax matters for the week of March 18, 2024 – March 22, 2024. ...more

Weekly IRS Roundup February 19 – February 23, 2024

McDermott Will & Emery on 2/29/2024

Check out our summary of significant Internal Revenue Service (IRS) guidance and relevant tax matters for the week of February 19, 2024 – February 23, 2024. February 20, 2024: The IRS published Announcement 2024-12, which...more

Weekly IRS Roundup February 5 – February 9, 2024

McDermott Will & Emery on 2/14/2024

Check out our summary of significant Internal Revenue Service (IRS) guidance and relevant tax matters for the week of February 5, 2024 – February 9, 2024. ...more

Weekly IRS Roundup January 8 – January 12, 2024

McDermott Will & Emery on 1/17/2024

Check out our summary of significant Internal Revenue Service (IRS) guidance and relevant tax matters for the week of January 8, 2024 – January 12, 2024....more

Weekly IRS Roundup January 1 – January 5, 2024

McDermott Will & Emery on 1/10/2024

Check out our summary of significant Internal Revenue Service (IRS) guidance and relevant tax matters for the week of January 1, 2024 – January 5, 2024. ...more

Weekly IRS Roundup December 25 – December 29, 2023

McDermott Will & Emery on 1/3/2024

Check out our summary of significant Internal Revenue Service (IRS) guidance and relevant tax matters for the week of December 25, 2023 – December 29, 2023...more

Weekly IRS Roundup December 18 – December 22, 2023

McDermott Will & Emery on 12/27/2023

Check out our summary of significant Internal Revenue Service (IRS) guidance and relevant tax matters for the week of December 18, 2023 – December 22, 2023. ...more

Weekly IRS Roundup December 11 – December 15, 2023

McDermott Will & Emery on 12/20/2023

Check out our summary of significant Internal Revenue Service (IRS) guidance and relevant tax matters for the week of December 11, 2023 – December 15, 2023. ...more

Weekly IRS Roundup December 4 – December 8, 2023

McDermott Will & Emery on 12/13/2023

Check out our summary of significant Internal Revenue Service (IRS) guidance and relevant tax matters for the week of December 4, 2023 – December 8, 2023...more

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