IRS practice & procedure

TOPICS / TAX

February 4, 2022

AICPA calls IRS staff reassignments a ‘positive step,’ reiterates relief goals

The Service deploys an “inventory surge team” to tackle backlog while a coalition of tax professionals including the AICPA continues its call for specific relief measures.

February 1, 2022

Full disclosure: When tax transactions must be reported

A variety of ‘reportable transactions’ require transparency with the IRS.

January 31, 2022

‘Quick’ carryback tax refunds took nearly double the 90-day deadline

Over a period of 15 months in 2021 and late 2020, the IRS was consistently late in processing applications for carryback adjustment refunds, a US Government Accountability Office study finds.

January 27, 2022

AICPA notes IRS announcement on notices, asks Service to do more

The IRS said it will halt some notices to taxpayers, but the AICPA is asking it to do more to reduce erroneous automated notices and unnecessary taxpayer contact.

January 25, 2022

Taxpayers need relief now, AICPA and other organizations say

The AICPA and a coalition of organizations representing tax practitioners reiterated their call for taxpayer relief from penalties and other compliance actions, given ongoing Internal Revenue Service problems.

January 19, 2022

IRS issues procedures for employee status determinations

Prior guidance on Tax Court jurisdiction over IRS determinations of employee vs. independent contractor status is modified and superseded.

January 14, 2022

AICPA joins coalition seeking relief from IRS service challenges

A diverse group calls upon Internal Revenue Service to take steps to mitigate its service issues.

January 11, 2022

Practitioners wary of IRS service lapses as tax season begins

Continuing problems in timely processing of returns and correspondence may threaten more headaches.

January 10, 2022

IRS to accept 2021 tax returns starting Jan. 24

The IRS announced the start date for tax season and that the due date for most individuals is April 18.

January 1, 2022

All LB&I taxpayers may videoconference with the IRS

Pandemic-inspired method for examinations and appeals meetings is extended.

January 1, 2022

Line items

SSA wage base increases for 2022 … IRS Chief Counsel outlines R&D credit refund requirements … 6-year limitation period applies to entire return

January 1, 2022

IRS addresses taxpayer reliance on FAQs

The new policy establishes a
reasonable-cause defense and
updates the procedure for issuing
new FAQs.

December 22, 2021

Lenders should not report student loans discharged under ARPA

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.

December 6, 2021

Early sunset of the employee retention credit gets penalty relief

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.

December 1, 2021

E-signing for forms, tax compliance documents extended

Temporary pandemic-related procedures are reauthorized through October 2023 for certain paper returns and forms and documents in exams and similar taxpayer interactions.

December 1, 2021

Estate tax closing letters now cost $67

New user fee is established by final regulations.

December 1, 2021

Whistleblower award denied

Additional tax proceeds were assessed due to an issue unrelated to the informant’s information, the Tax Court holds.

November 17, 2021

New user verification for IRS online accounts to be required by mid-2022

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.

November 16, 2021