Lighthouse on the rocks in storm ocean

Navigating New IRS Regulations: Understanding De Minimis Error Safe Harbors

The IRS has recently finalized regulations that provide clarity and relief for businesses and individuals regarding the penalties for inaccuracies in information returns and payee statements. These final regulations, effective for documents required on or after January 1, 2024, solidify the IRS’s stance on de minimis error safe harbors under Code Sections 6721 and 6722, …

Navigating New IRS Regulations: Understanding De Minimis Error Safe Harbors Read More ยป