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In response to disruptions of the fuel supply chain, the IRS recently announced it will not impose a penalty when dyed diesel fuel is sold for use or used on the highway in Alabama, Delaware, Georgia, Florida, Louisiana, Maryland, Mississippi, North Carolina, Pennsylvania, South Carolina, Tennessee, Virginia and the District of Columbia.
View MoreThe IRS recently issued Notice 2021-26, providing guidance on the taxability of dependent care assistance programs for 2021 and 2022.
View MoreThe IRS and Treasury Department recently announced further details of tax credits available under the American Rescue Plan Act of 2021 to help small businesses, including providing paid leave for employees receiving COVID-19 vaccinations.
View MoreThe Tennessee Department of Revenue recently provided an update to excise tax deductions as well as updated guidance on payments received under the Tennessee Business Relief Program and the Supplemental Employer Grant Program.
View MoreRep. Lloyd Smucker, R.-Pa., recently announced he will introduce a bill that would postpone the due date for first quarter 2021 estimated tax payments from April 15, 2021, to May 17, 2021.
View MoreThe IRS recently announced that taxpayers with excess advance payments of the Premium Tax Credit for 2020 are not required to file Form 8962, Premium Tax Credit, or report an excess advance Premium Tax Credit repayment on their 2020 Form 1040 or Form 1040-SR, Schedule 2, Line 2, when they file.
View MoreThe IRS recently released Notice 2021-25 clarifying when the temporary 100 percent deduction for restaurant meals is available and when the 50 percent limitation on the deduction for food and beverages applies.
View MoreThe IRS recently issued guidance for employers claiming the Employee Retention Credit under the Coronavirus Aid, Relief, and Economic Security Act modified by the Taxpayer Certainty and Disaster Tax Relief Act of 2020.
View MoreOn March 31, 60 Congressional Representatives signed on to a letter, led by Representative Lloyd Smucker, requesting IRS Commissioner Rettig extend the federal tax filing deadline for first quarter estimated tax payments to May 17, 2021.
View MoreThe IRS recently announced it will take steps to automatically refund money this spring and summer to people who filed their tax return reporting unemployment compensation before the recent changes made by the American Rescue Plan.
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