Alistair M. Nevius

Sep 13, 2024 | journalofaccountancy.com | Alistair M. Nevius

Tribal general welfare benefit payments will be excluded from income under proposed regulations the IRS issued on Friday (REG-106851-21). The proposed regulations, which are the first regulations issued under Sec. 139E, lay out the requirements for determining whether benefits provided by an Indian tribal government program qualify as tribal general welfare benefits. Although Indian tribal members are required to pay federal income tax, Sec.

Dec 20, 2023 | journalofaccountancy.com | Alistair M. Nevius

The IRS on Wednesday provided a safe harbor under the Sec. 45W commercial clean vehicle credit for commercial vehicles placed in service in 2024 (Notice 2024-5). Under the safe harbor, the credit will not be limited for eligible vehicles that have a gross vehicle weight rating of less than 14,000 pounds, and vehicle owners will not have to calculate the vehicle's incremental cost. A similar safe harbor was provided by Notice 2023-9 for vehicles placed in service in 2023. Sec.

Feb 11, 2023 | journalofaccountancy.com | Alistair M. Nevius

Feb 11, 2023 | thetaxadviser.com | Alistair M. Nevius

Jan 4, 2023 | journalofaccountancy.com | Alistair M. Nevius