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For purposes of the Sec. 36B premium tax credit, T.D. 9968 bases affordability of employer-offered coverage of an employee’s family members on the cost of family coverage rather than, as previously, the employee’s self-only coverage.
Under Notice 2022-44, the high-low method rates are slightly higher and the list of high-cost localities in the continental United States is revised, both effective Oct. 1, 2022.
In a second letter, the AICPA takes issue with broad new documentation requirements for refund claims involving the Sec. 41 credit, outlined in an IRS memo in fall 2021.
Taxpayers now have until Jan. 10, 2024, to supply missing information within 45 days of submitting a Sec. 41 research and development credit refund claim under new requirements.
To comment on this column, contact Paul Bonner, the JofA’s tax editor.