The IRS describes how employers may avoid failure-to-pay and failure-to-deposit penalties for ERC claimed or anticipated in the fourth quarter but eliminated by the Infrastructure Act.
IRS practice & procedure
Temporary pandemic-related procedures are reauthorized through October 2023 for certain paper returns and forms and documents in exams and similar taxpayer interactions.
New user fee is established by final regulations.
Additional tax proceeds were assessed due to an issue unrelated to the informant’s information, the Tax Court holds.
Tax professionals and taxpayers will have to create an account with a third-party provider, ID.me, which requires uploading an image of a government-issued ID and a selfie, in order to access certain IRS online tools and portals.
An IRS notice provides a special rule for the temporary 100% deduction.
Commissioner Charles Rettig and other IRS officials tell the AICPA & CIMA National Tax Conference about their administrative challenges and plans.
The IRS advises on the effects on tax credits and the Free Application for Federal Student Aid and what taxpayers should do.
An AICPA vice president analyzes the recently passed Infrastructure Investment and Jobs Act and previews what’s to come regarding budget reconciliation and key tax provisions.
A revenue procedure clarifies Homeowner Assistance Fund payments are excluded from gross income and gives a safe harbor for computing certain itemized deductions.
Majority owners' wages for the employee retention credit are among issues addressed.
The IRS announced it is expanding the availability of videoconference meetings for large business taxpayers for examinations and appeals.
Taxpayers who reasonably rely on FAQs posted by the Internal Revenue Service will have a reasonable-cause penalty defense under a new policy announced by the agency on Friday. The IRS will also keep original versions of FAQs on its site after it updates them.
Online submissions of POAs and client account authorizations are processed automatically.
The letters, which the IRS provides as a courtesy to executors and other authorized estate representatives, will now cost $67.
The IRS reports that its Transcript Delivery System is down for business taxpayers who reported information related to COVID-19 employment tax relief on Form 941, Employer’s Quarterly Federal Tax Return.
Tax deadlines are pushed back 60 days after federally declared disasters.
A key criterion is the overpayment date of a processable return.
A new online portal automates the submission of powers of attorney and tax information authorizations, and there are plans to expand its functionality over time.
The IRS warns taxpayers of unscrupulous tax promoters in the fourth installment of its annual list of common tax scams.