IRS practice & procedure

TOPICS / TAX

June 30, 2021

Proposed bill to regulate tax preparers has AICPA support

A bill recently proposed in Congress would authorize Treasury to regulate paid tax return preparers, and the AICPA strongly supports it.

June 30, 2021

More ‘Dirty Dozen’: Fake charities, ‘ghost’ preparers, and other ploys

The IRS warns of tax-related scams in a third of four installments.

June 29, 2021

Next batch of ‘Dirty Dozen’ warns of personal info scams

In the second installment of this year’s “Dirty Dozen” list of tax scams, the IRS warns taxpayers to be vigilant for fraudulent schemes in the form of emails, text or social media messages, and phone calls.

June 28, 2021

IRS warns of pandemic-related tax scams in ‘Dirty Dozen’ for 2021

Hijacking of economic impact payments and unemployment checks are spotlighted in the IRS’s annual alert, which warns taxpayers of the most prevalent scams and schemes the Service has identified.

June 15, 2021

Top tax cases practitioners should know

A session at AICPA & CIMA ENGAGE 2021 shows how bedrock tax cases can help practitioners understand and resolve common issues that arise in practice.

June 10, 2021

Regs. on postponing tax deadlines due to federally declared disasters

New IRS final regulations clarify when a federally declared disaster will lead to mandatory 60-day postponement of certain tax-related deadlines.

May 28, 2021

President’s budget contains many tax proposals

The proposed $6 trillion fiscal year 2022 budget unveiled by the Biden Administration includes a host of tax items, including proposals to raise the corporate tax rate, raise the top tax rate for high-income individuals, limit like-kind exchanges, and make permanent recent temporary changes to various tax credits.

May 27, 2021

A closer look at paid tax preparer regulation

An AICPA senior manager explains why the AICPA recently offered recommendations on six key areas of regulation of paid tax return preparers.

May 17, 2021

Supreme Court: Microcaptive reporting challenge may go forward

Reversing the Sixth Circuit, the Supreme Court held that an injunction sought against an IRS notice is not barred by the Anti-Injunction Act because it challenges a reporting requirement and not a tax.

May 17, 2021

Taxpayers deserve pandemic penalty relief, AICPA says

In a letter to the IRS and Treasury, the AICPA recommended, in light of the ongoing COVID-19 pandemic, that the IRS implement fair, reasonable and practical penalty relief measures, including targeted relief from both the underpayment-of-estimated-tax penalty and the late-payment penalty for the 2020 tax year.

May 12, 2021

6 key areas of paid tax preparer regulation highlighted in AICPA letter to Congress

The Biden administration says the IRS should be given the authority to regulate paid tax return preparers who are currently unregulated, and the AICPA offers its recommendations in six key areas.

May 1, 2021

Court holds refund claims were not duly filed

Taxpayers’ failure to sign amended returns or power-of-attorney form prompts dismissal.

May 1, 2021

Taxpayers adequately apprised the IRS of their change in address

The appellate court holds that the IRS knew or should have known of the change.

April 20, 2021

IRS extends e-signature authorization for 6 months

In response to the coronavirus pandemic, the IRS issued guidance extending the temporary authorization to issue a number of IRS forms using electronic signatures from June 30, 2021, through Dec. 31, 2021.

April 8, 2021

AICPA recommendations on Q1 estimates and 2020 Form 709 extensions

The AICPA has released some recommendations for practitioners concerning various issues that have arisen due to the postponement of the April 15 tax deadline for individuals.

April 8, 2021

Bill to postpone estimated tax due date to be introduced in Congress

Rep. Lloyd Smucker, R.-Pa., announced he will introduce a bill that pushes back the due date for first-quarter 2021 estimated tax payments from April 15, 2021, to May 17, 2021. The AICPA expressed its support for the bill.

April 1, 2021

Details of the April 15 postponement and a primer on SVOG

What deadlines have been extended related to the PPP and tax filing? What deadlines haven’t? What grant program is about to open? Learn more in this podcast.

April 1, 2021

Members of Congress request estimated tax deadline postponement

A bipartisan group of 60 members of Congress wrote the IRS, urging that the deadline for first quarter 2021 federal estimated tax payments be postponed until May 17.

April 1, 2021

IRS to automatically issue refunds on tax-free unemployment benefits

To help taxpayers who might otherwise have been required to file amended income tax returns, the IRS announced that, beginning in May and continuing into the summer, it will automatically issue to eligible taxpayers refunds of income tax paid on 2020 unemployment benefits.

March 29, 2021

IRS provides details on April 15 postponement

The IRS issued a notice providing more details and clarification of its previously announced postponement of the April 15 tax deadline for individuals. The notice extends the date for making 2020 IRA contributions; however, it does not extend the date for estimated tax payments.

FROM THIS MONTH'S ISSUE

4 ways solo practitioners can stand out

Five years ago, a grieving Angel Zhen started his own CPA firm with no clients and no revenue. Today, he has 300 clients, $600,000 in revenue and 12 weeks of annual vacation. In this JofA article, he shares how he set up his firm and how you could do the same.