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COVID-19 tax news and resources

As time runs out for pandemic-era ERC, IRS adds 5 FAQs

The FAQs, which deal mainly with how to handle the employee retention credit on tax returns under various scenarios, are not authoritative but do provide some answers to questions about the expiration of the statute of limitation, an AICPA & CIMA tax practice and ethics manager said.

Employee retention credit updates

Practitioners need an understanding of claim disallowance appeals and requests for additional
information, as well as insight into how the voluntary disclosure program may affect practitioners themselves.

IRS makes progress on backlogged ERC claims

The Service announced that it had digitized and categorized more than 1 million employee retention credit claims and would deny tens of thousands of those claims that it categorized as high-risk.

employee benefits & pensions

Abstract image of pie chart, with pieces being pulled from several directions. IMAGE BY VECTORMINE/ADOBE STOCK

Profits interests: The most tax-efficient equity grant to employees

By granting them a profits interest, entities taxed as partnerships can reward employees with equity. Mistakes, however, could cause challenges from taxing authorities.

Tax Clinic

Proposed regulations issued on retirement catch-up contributions

IC-DISC commission payment provisions

The role of REITs for foreign investors in US real estate

Signing partnerships’ returns and other tax documents

Practical considerations for taxpayers and advisers following Loper Bright and Corner Post