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AICPA, others call for a one-year extension of BOI report deadline
In a letter to Treasury’s Financial Crimes Enforcement Network, the AICPA says the additional time will give businesses a fair and reasonable period to become aware of the new and complex beneficial ownership information reporting rules.
COVID-19 changes allowing e-signatures made permanent
A temporary COVID-19 change to allow e-signatures on some forms, documents, and returns has been made permanent in the Internal Revenue Manual. The AICPA had advocated for making this change to the e-signature rules permanent.
IRS emphasizes strides as it presses to keep funding
Commissioner Danny Werfel focused on IRS efforts to get wealthy corporations and high-income individuals to pay taxes they owe, as he made his case for the Service to keep both its annual appropriations and funding from the Inflation Reduction Act.
‘As if they were never filed’: IRS outlines steps to withdraw ERC claims
The IRS is offering the program for taxpayers that have submitted an ineligible employee retention credit claim to withdraw it while the Service cracks down on unscrupulous promoters of the credit.
13 states will participate in IRS Direct File pilot
A pilot program lets individual residents of the states with relatively simple returns electronically file their federal tax returns directly and free during the 2024 filing season.
To comment on this column, contact Paul Bonner, the JofA’s tax editor.
