2024-12-24 IRS Proposes Signficant Revisions to Circular 230
This week we look at:
- Automatic accounting method changes related to §174 extended to years beginning in 2024
- BOI report - hectic week, but ultimately no resolution yet for initial report due date
- 2025 mileage rates published by the IRS
- IRS finalizes regulations on supervisory approval of penalties
- IRS proposes revisions to Circular 230
