Search Results for keywords:"Proposed Regulations"

Found 3 results

Search Results: keywords:"Proposed Regulations"

💰 Only
Oldest Newest
  • 2025-02606 — Section 30C Alternative Fuel Vehicle Refueling Property Credit; Hearing Cancellation
    Type:Proposed Rule
    Citation:90 FR 9613
    Reading Time:about a minute or two

    The Internal Revenue Service (IRS) and the Treasury Department announced the cancellation of a public hearing that was planned for February 12, 2025. This hearing was about proposed regulations regarding a Federal Income tax credit from the Inflation Reduction Act of 2022. The credit is for costs related to qualified alternative fuel vehicle refueling properties located in low-income communities or non-urban areas. The notice was initially published in the Federal Register on September 19, 2024.

    Simple Explanation

    The IRS and the Treasury were going to have a meeting to talk about a special money back deal for building places to fill up eco-friendly cars in certain areas, but they decided not to have the meeting after all.

  • 2024-31233 — Section 30C Alternative Fuel Vehicle Refueling Property Credit; Hearing
    Type:Proposed Rule
    Citation:90 FR 581
    Reading Time:about 4 minutes

    The Internal Revenue Service (IRS) is organizing a public hearing about proposed rules for a federal income tax credit. This credit is under the Inflation Reduction Act of 2022 and is for costs related to alternative fuel vehicle refueling property, specifically in low-income or non-urban areas. The hearing is set for February 12, 2025, in Washington, DC, and participants can join in person or by phone. People interested in speaking at the hearing need to submit their discussion topics by January 10, 2025.

    Simple Explanation

    The IRS is having a meeting to talk about new rules for getting tax breaks if you build special places to fill up eco-friendly cars in certain areas. People can join this meeting in person or on the phone if they let the IRS know ahead of time.

  • 2025-00350 — Catch-Up Contributions
    💰
    Type:Proposed Rule
    Citation:90 FR 2645
    Reading Time:about 102 minutes

    The Treasury Department and the Internal Revenue Service (IRS) have proposed a new rule affecting retirement plans for people aged 50 and over who want to make additional contributions, known as "catch-up contributions." The changes come from the SECURE 2.0 Act of 2022, and these new rules require some of those contributions to be made as "Roth" contributions if the participant earns a certain amount. The proposal includes details on what plans must follow, deadlines, and information about a public hearing where people can discuss these changes. Comments from the public are encouraged and can be submitted until March 14, 2025.

    Simple Explanation

    The IRS wants to change how older people save extra money for retirement. They are suggesting that some of this extra money needs to be saved in a special way called "Roth", if they earn a lot.