February 15, 2022
The IRS recently released a revised version of Form 14457, Voluntary Disclosure Practice Preclearance Request and Application, that includes an expanded reporting section and instructions for reporting virtual currency.
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February 15, 2022
The IRS recently launched a special new page on IRS.gov to provide the latest details and information affecting the 2022 tax filing season and ongoing efforts by the agency to address the inventory of previously filed tax returns.
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February 11, 2022
The IRS recently updated its frequently asked questions for taxpayers and practitioners submitting claims for refunds involving the research and development credit.
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February 10, 2022
Last year, the IRS released final versions of two new international-related schedules that are being added to passthrough entity returns to provide more clarity for shareholders and partners on how to calculate their U.S. income tax liability when considering potential international-related deductions, credits and miscellaneous items.
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February 9, 2022
The IRS recently announced the suspension of more than a dozen additional letters, including the mailing of automated collection notices normally issued when a taxpayer owes additional tax and the IRS has no record of a taxpayer filing a tax return.
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February 7, 2022
The Treasury Inspector General for Tax Administration recently released a report stating that the IRS unit that checks employee benefit plans for compliance with IRS qualification, reporting and disclosure requirements, and with excise and income tax matters, scored 23 percent lower overall on its quality reviews in fiscal years 2018 through 2020.
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February 7, 2022
The IRS announced it will transition away from using a third-party service for facial recognition to help authenticate people creating new online accounts.
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February 3, 2022
The Tennessee Department of Revenue recently extended the franchise and excise tax filing and payment deadlines to May 16, 2022, for four additional counties impacted by severe weather on Dec. 10-11, 2021.
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February 3, 2022
A group of lawmakers recently introduced bipartisan legislation to create a framework for taxing purchases made with cryptocurrency.
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February 3, 2022
The IRS recently announced that it is reassigning employees who used to process tax returns and related paperwork back to their old jobs for the next eight months to help address the agency’s backlog that began during the start of the pandemic.
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