Tag: excise_tax
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IRS Grants Temporary Relief on Reporting for Taxable Dyed Diesel Uses
The relief covers dyed diesel used between Oct. 1 and Dec. 31, 2026, and applies even where filing deadlines fall after the period ends.
Politics and GovernmentBusinessLaw EnforcementFederal GovernmentEconomyEnergyLegalUSA Internal Revenue Servicedyed dieselsection 4041(a)Form 720excise taxrecordkeeping reliefDepartment of the Treasurytax reporting relief
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IRS Waives Dyed Diesel Penalties Nationwide Through December 31
The relief, retroactive to October 1, follows President Trump's October 5 executive order and suspends federal collection and enforcement, but does not affect state fuel taxes.
Politics and GovernmentBusinessUSAFederal GovernmentEconomyEnergyLegal IRSdyed diesel fuelexcise taxExecutive OrderDonald TrumpForm 720fuel tax relief
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IRS and Treasury to Propose New Rules for Tax-Exempt Executive Pay
The IRS and Treasury announced plans for proposed regulations under the One, Big, Beautiful Bill, expanding excise tax on excessive executive compensation for tax-exempt organizations to include more highly paid employees.
Politics and GovernmentBusinessGeneral PoliticsFederal GovernmentEconomyEmployment and LaborLegal IRSTreasuryTax-Exempt OrganizationsExecutive CompensationExcise TaxOne Big Beautiful BillRegulations
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IRS and Treasury Announce Expanded Executive Compensation Tax Regulations for Tax-Exempt Organizations
Treasury and IRS plan new regulations for the One, Big, Beautiful Bill, expanding excise tax on tax-exempt organization executive compensation. The tax now targets any employee earning over $1 million, not just top executives.
Politics and GovernmentBusinessFederal GovernmentEconomyLegalEmployment and Labor Tax-exempt organizationsExecutive compensationIRSTreasuryOne, Big, Beautiful BillExcise taxRegulations