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.
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TOPICS
IRS Practice & Procedure
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on Tax Court jurisdiction over IRS determinations of employee vs. independent contractor status is modified and superseded.
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.
National taxpayer advocate details 2021 as ‘most challenging year’ ever
Erin Collins’ Annual Report to Congress for 2021 portrays an IRS beset by insufficient resources to meet overwhelming demands.
Practitioners wary of IRS service lapses as tax season begins
Continuing problems in timely processing of returns and correspondence may threaten more headaches.
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.
Three paths to innocent spouse relief
Assess all the facts and circumstances to determine which of three avenues should be pursued for innocent spouse relief.
Documenting COVID-19 employment tax credits
This item discusses the extensive documentation requirements for the ERC and the FFCRA paid leave credits.
Deferral of penalties for failure to timely deposit employment taxes
The IRS determined that a failure to deposit any portion of the federal employment taxes deferred by the CARES Act by the applicable installment due date will result in a penalty.
Form 1099-K information returns: New rules beginning 2022
ARPA lowered the de minimis threshold for information reporting on third-party network transactions. This change will substantially increase the number of Forms 1099-K, required to be filed with the IRS and furnished to recipients by third-party settlement organizations and their electronic payment facilitators.
Qualified COVID-19 paid leave benefits: Reporting on Form W-2
Under IRS guidance, employers are required to report qualified sick leave or family leave wages paid in 2021 either in box 14, “Other,” of Form W-2, Wage and Tax Statement, or in a separate statement.
Whistleblower claim does not die with the whistleblower
A whistleblower claim survives the death of the whistleblower
A guide to dealing with today’s IRS
This article provides practical suggestions to help practitioners navigate the process of resolving client issues with the IRS at a time when the agency is struggling with the effects of the COVID-19 pandemic and a reduction in personnel.
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.
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.
AICPA tax advocacy gets results in 2021
The AICPA Tax Policy and Advocacy group worked with the AICPA Congressional Affairs group to represent the interests of practitioners and the public.
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.
Tax Court blows the whistle on whistleblower claim
A whistleblower is not entitled to an award where information provided did not directly result in the tax collected by the IRS.
Keeping client data secure: How’s your cybersecurity immunity?
This article discusses five things tax professionals can do to boost their security immunity.
Automatic extension for furnishing health coverage statements proposed
Proposed regulations would permanently allow an automatic extension for furnishing health care Forms 1095-B and 1095-C and would also specify that Medicaid services to test for and diagnose COVID-19 are not “minimum essential coverage.”
TAX PRACTICE MANAGEMENT
2025 tax software survey
AICPA members in tax practice assess how their return preparation software performed during tax season and offer insights into their procedures.
