The IRS announced time-limited settlement offers, requiring tax benefit concessions and assessing penalties, to eligible taxpayers with pending cases.
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TOPICS
IRS Practice & Procedure
Originally filed return starts clock ticking
The Chief Counsel determined that the original return and not the superseding return starts the three-year statutory period for assessment under Sec. 6501 or for filing a refund claim under Sec. 6511.
Prop. regs. define real property for Sec. 1031 like-kind exchanges
How should components of real property segregated and depreciated as personal property be treated in a like-kind exchange? Newly issued proposed regulations help answer this question by
providing a definition of real property.
Guidance on deferred employee payroll tax issued
The IRS issued guidance to employers and employees on reporting deferred Social Security tax on Form W-2, Wage and Tax Statement, under the Aug. 8 Presidential Memorandum authorizing the deferral.
Offer-in-compromise scams expected to increase
The COVID-19 recession is the reason why the IRS added “offer-in-compromise mills” to its annual Dirty Dozen scams list.
Template for requesting penalty abatement available from AICPA
The AICPA has created a template for members to use when requesting a penalty abatement from the IRS. Many taxpayers are receiving penalty notices after COVID-19 hampered their ability to meet tax filing obligations.
2021 inflation adjustments and tax tables issued
The IRS issued the 2021 inflation adjustment amounts and tax tables for use in preparing 2021 tax returns in the 2022 filing season. Many of the over 60 items increased from 2020.
Common sense and reasonable cause for IRS penalties
One of the biggest, yet most misunderstood, penalty defenses is that a tax position was based on reasonable cause and the taxpayer acted in good faith.
2020 employer opportunities: Give more while spending less
This article focuses on two opportunities beneficial to both employers and employees: (1) Sec. 139 disaster relief payments and (2) Sec. 127 educational assistance payments.
With Oct. 15 looming, some practitioners face daunting challenges
Tax practitioners have expressed concerns that they will not be able to meet upcoming Oct. 15 tax filing deadline for a variety of reasons related to the global pandemic.
Nonfilers have until Nov. 21 to apply for economic impact payment
The IRS announced that it was extending the deadline from Oct. 15 to Nov. 21 at midnight for certain individuals to enter their information on the Non-Filers: Enter Payment Info Here tool on the IRS website to receive the $1,200 stimulus payment due to individual taxpayers.
Health coverage reporting deadline extended
The IRS extended the due date for furnishing Form 1095-B and 1095-C health care coverage information returns to individuals from Jan. 31, 2021, to March 2, 2021. The date for filing them with IRS has not been extended.
Employers get guidance on income tax withholding from wages
The IRS issued final regulations providing guidance on withholding federal income tax from employees’ wages under changes enacted in the Tax Cuts and Jobs Act.
COVID-19 challenges at center of national taxpayer advocate report
The midyear report from National Taxpayer Advocate Erin Collins focuses on the effects of the
COVID-19 pandemic, including its impact on IRS service levels and how the reduced services have affected taxpayers.
Resolving IRS hardships with the Taxpayer Advocate Service
The Taxpayer Advocate Service can help practitioners when clients are suffering.
PTIN user fees reinstated
The IRS said it would once again begin charging fees to issue preparer tax identification numbers to return preparers for 2021.
Timely filing from foreign countries
Taxpayers filing from a foreign country may find
complications in the postmark rule.
Procedural avenues for taxpayers with balances due to the IRS
Taxpayers have several forums available to address outstanding liabilities with the IRS.
Taxpayer allowed to challenge underlying liability in CDP hearing
A taxpayer did not have an opportunity to challenge a trust fund recovery penalty where he did not receive a letter that scheduled an Appeals conference.
The maze of real estate rentals
Taxpayers and practitioners must navigate special rules for rental real estate activities in a number of areas including the passive activity rules, the net investment income tax, the qualified business income deduction, the Sec. 179 deduction, corporate reorganization rules, and the self-employment tax.
INDIVIDUALS
Current Developments in Taxation of Individuals: Part 1
This update surveys recent federal tax developments involving individuals, including court cases, rulings, and guidance issued during the six months ending October 2025.
