IRS
July 13, 2021
Although most economic impact payments, also known as stimulus payments, to individuals have been issued, their security remains a concern. Accordingly, taxpayers should be wary of text messages, phone calls, or emails asking about bank account information... (click on the picture to read more)...
August 10, 2020
The IRS explained how employers should report the amount of qualified sick and family leave wages paid to employees under the Families First Coronavirus Response Act. (click on the picture to read more)...
July 28, 2020
The Department has noted, and local news articles have publicized the fact that some businesses are now charging an additional fee attributed to COVID-19. This additional fee added to the final selling price of retail sales appears to be a move to help recoup costs associated with added implementation expenses and other increased costs. (click on the picture to read more)...
July 20, 2020
The AICPA recommends that the IRS further expand on its previously announced relaxation of its requirements for digital signatures in the collections area to four other areas. the IRS should allow all taxpayers the option to use an e-signature for the Form 8878 series and the Form 8879 series for e-file signature authorizations, if the taxpayer’s software has e-signature capability. (click on the picture to read more)...
July 6, 2020
More than 3,600 complaints of COVID-19 scams had come into the FBI’s Internet Crime Complaint Center through April 21, according to the U.S. Department of Justice. (click on the picture to read more)...
June 30, 2020
The current system requires taxpayers to mail a paper amended return to the IRS for processing, and the IRS receives over 3 million of those forms each year. The new electronic option allows the IRS to receive amended returns faster while minimizing errors normally associated with manually completing the form. (click on the picture to read more)...
June 12, 2020
The IRS issued long-promised proposed regulations explaining how taxpayers who may qualify for the Sec 36B premium tax credit are affected by the temporary reduction of the personal exemption deduction. (click on the picture to read more)...
June 8, 2020
The relief eases some potential consequences that a prolonged stay in a country may have on the determination of where an individual or business is subject to taxation. (click on the picture to read more)...
May 25, 2020
Finally, there are some nexus and withholding issues that states can address by just giving taxpayers guidance. Essentially, employees working remotely can create income tax nexus and withholding obligations for employers in those states. (click on the picture to read more)...
May 14, 2020
To enable taxpayers to continue to submit requests for IRS guidance during the coronavirus pandemic, the IRS is temporarily allowing the electronic submission of requests for letter rulings, closing agreements, determination letters, and information letters under the jurisdiction of the IRS Office of Chief Counsel (click on the picture to read more)...