November 2, 2020
The IRS recently posted guidance on how to report the deferral of withholding, depositing and paying of certain payroll tax obligations, as authorized by the Aug. 8, 2020 Presidential Memorandum.
View More
October 27, 2020
The IRS recently released Revenue Procedure 2020-45 announcing the tax year 2021 annual inflation adjustments for more than 60 tax provisions, including the tax rate schedules. It also released Notice 2020-79 announcing cost of living adjustments affecting dollar limitations for pension plans and other retirement-related items for tax year 2021
View More
October 21, 2020
The IRS recently released several new resources and reminders for tax return preparers for the upcoming tax filing season.
View More
October 20, 2020
The IRS is reminding Authorized IRS e-file Providers that they must answer the annual self-certification questions beginning Oct. 1, 2020 to ensure they comply with Publication 1345 IRS e-file security, privacy and business standards.
View More
September 30, 2020
The IRS recently issued final regulations on the business expense deduction for meals and entertainment following changes made by the Tax Cuts and Jobs Act.
View More
September 29, 2020
The U.S. Department of the Treasury and IRS recently issued final regulations updating the federal income tax withholding rules for certain periodic retirement and annuity payments made after Dec. 31, 2020.
View More
September 24, 2020
The IRS Wage & Investment Division recently announced that starting in January 2021, the IRS will expand its IP PIN voluntary opt-in program nationwide.
View More
September 10, 2020
On Aug. 28, the IRS announced it would temporarily allow the use of digital signatures on certain forms that cannot be filed electronically to help reduce in-person contact during the COVID-19 pandemic, and the agency has recently updated the list of forms accepted digitally.
View More
September 2, 2020
TSCPA has joined more than 120 employers and organizations across the nation in signing a letter to Congressional leaders urging them to support state tax filing and withholding relief for remote workers during the pandemic.
View More
August 21, 2020
The IRS has issued a statement that it is aware that a small population of employers that reduced their tax deposits in anticipation of claiming the sick and family leave credits or employee retention credit may have received a notice stating there was a failure to deposit penalty applicable to the Form 941 on which the credits were claimed.
View More