Prior guidance on Tax Court jurisdiction over IRS determinations of employee vs. independent contractor status is modified and superseded.
A diverse group calls upon Internal Revenue Service to take steps to mitigate its service issues.
Economic impact payments taxpayers received during the tax year must be netted against a tax credit on 2021 returns.
Erin Collins’ Annual Report to Congress for 2021 portrays an IRS beset by insufficient resources to meet overwhelming demands.
FAQs on the Service’s website are updated for preparing 2021 returns.
Continuing problems in timely processing of returns and correspondence may threaten more headaches.
The IRS announced the start date for tax season and that the due date for most individuals is April 18.
Starting Jan. 10, a Sec. 41 credit claimed on an amended return must include specific information.
A law change and some regulations take effect while an array of provisions expire.
SSA wage base increases for 2022 ... IRS Chief Counsel outlines R&D credit refund requirements ... 6-year limitation period applies to entire return
Pandemic-inspired method for examinations and appeals meetings is extended.
Notice does not affect the status of already recognized organizations.
The Tax Court denies IRS arguments of a ‘double deduction.’
New limits are considered for Sec. 1031 transactions.
The new policy establishes a reasonable-cause defense and updates the procedure for issuing new FAQs.
Download and print our annual quick guide, a tax season reference, highlighting dollar thresholds, tax tables, standard amounts, credits, and deductions.
While pandemic relief measures for individual taxpayers are no surprise, they require still-novel calculations and considerations, with a few new wrinkles in some familiar items.
The IRS advises that Form 1099-C, Cancellation of Debt, should not be filed for student loans covered by the ARPA temporary special rule excluding most discharges from borrowers’ income.
Hear status updates on PPP loan forgiveness and other business relief programs and why one CPA says we should reflect on our resilience.
To be deductible at the entity level, payments by passthrough entities of state and local taxes should be made in the tax year of the liability, but state-specific elections may complicate that timing, tax advocates advise.