IRS Practice & Procedure
In a letter, the AICPA asked the IRS to postpone until June 15, 2021, all 2020 federal income tax and information returns and payments (e.g., extension and estimated payments) originally due April 15, 2021.
Updating the rules governing practice before the IRS is one of the goals of the IRS Office of Professional Responsibility for the new year, its director says.
The IRS announced procedures for identifying and recovering direct deposit refunds that a taxpayer did not receive in the designated account.
Pandemic relief, tax extenders, and much more were included in year-end legislation.
As the IRS focuses more attention on Sec. 965, it is vital that taxpayers with Sec. 965 tax liabilities and their advisers understand the potentially applicable periods of limitation on assessment.
The AICPA has written to Treasury and the IRS, calling for certainty about the April 15 tax filing and payment deadline and for underpayment and late-payment penalty relief during the COVID-19 pandemic.
Proposed regulations provide that the IRS may determine that the centralized partnership audit regime does not apply to adjustments to partnership-related items under certain conditions.
To alleviate hardships caused by COVID-19, the IRS temporarily expanded the forms that can be filed with e-signatures, but future policy is uncertain.
Congress makes expenses funded by forgiven Paycheck Protection Program loans deductible.
The form has been developed due to an increase in Sec. 754 election revocation applications since the technical termination of a partnership under former Sec. 708(b)(1) (B) was repealed under the TCJA.
The IRS warned taxpayers that identity thieves are fraudulently claiming state unemployment benefits using stolen taxpayer identities. Here is what taxpayers should do if they receive a Form 1099-G reporting state unemployment benefits they did not receive.
The IRS issued updated procedures for the deferred employee portion of employment tax payments, which were further extended from April 30, 2021, to Dec. 31, 2021, by year-end legislation.
The IRS announced that it will start accepting 2020 tax returns on Feb. 12, a later date than usual. The delay stems from programming changes needed to account for year-end tax legislation.
The IRS issued final regulations on when fines and penalties paid to a government are not deductible by a taxpayer, including defining when a payment counts as restitution, which may be deductible.
The IRS’s LB&I Division requested comments regarding the potential obsolescence of Rev. Proc. 94-69, under which certain large corporations may
be treated as filing “qualified amended returns” after the commencement of an IRS examination.
The IRS made it easier for taxpayers to sign certain paper returns and other paper IRS forms in an environment where taxpayers and preparers alike are working remotely.
Understanding the nature of FAQs can assist practitioners in interpreting Treasury guidance.
This column reviews the rules of statutory due dates, extensions, refund limitations, and postponements, and how to determine the statute of limitation in the context of deadlines affected by the events of 2020.
The IRS issued guidance to employers and employees on reporting deferred Social Security tax on Form W-2 under the Presidential Memorandum authorizing the deferral.
The IRS said it was revising its procedures to help taxpayers who cannot pay their taxes because of the pandemic. The new program is called the Taxpayer Relief Initiative.
