Erin Schilling

3 days ago | news.bloombergtax.com | Kim Dixon |Chris Cioffi |Lillianna Byington |Erin Schilling

Senate Republicans Dig into Tax BillSenate Republicans are set to meet Wednesday on their plans for the massive tax-and-spending package they hope to pass by July 4. Majority Whip John Barrasso (R-Wyo.) said the meeting will include various committees outlining their jurisdictions over the measure. “We’re continuing to listen to all the members,” Barrasso told reporters Tuesday.

1 week ago | news.bloombergtax.com | Erin Slowey |Erin Schilling

President Donald Trump proposed $9.8 billion in annual funding for the IRS in his budget Friday, cutting into enforcement and earmarking nothing for business system modernization even as he looks to the agency to rely more heavily on technology. The proposed IRS annual funding for fiscal 2026 is a drop from Biden’s $12.3 billion proposal last year. The proposal includes $3.6 billion in taxpayer services, $3.6 billion for enforcement, $2.6 billion in operations support.

1 week ago | news.bloombergtax.com | Erin Schilling

Two Senate Finance Committee members are asking Treasury Secretary Scott Bessent to rescind a rule that reduces beneficial ownership reporting requirements. Sen. Sheldon Whitehouse (D-R.I.) and Sen. Chuck Grassley (R-Iowa) said in a Tuesday letter that the rule undermines the Corporate Transparency Act, which Congress passed in 2021 to combat money laundering.

2 weeks ago | news.bloombergtax.com | Erin Schilling

The IRS revoked the tax-exempt status of a hospital for failing to create a strategy to meet its community health needs assessment. The IRS said in a written determination dated Feb. 25 but released Friday that the hospital—the name of which is redacted but it qualifies as a government unit—also failed to clearly identify the reporting requirements of the community health needs assessment.

2 weeks ago | jdsupra.com | Shivani Bailey |Erin Schilling

Key Takeaways The U.S. Equal Employment Opportunity Commission 2024 EEO-1 Component 1 Report filing opened on May 20, 2025, with a submission deadline of June 24, 2025, and no extensions being granted. Employers must select a workforce snapshot from October 1, 2024, to December 31, 2024. Filing is mandatory for private employers with 100 or more employees, federal contractors with 50 or more employees and certain affiliated private employers.