IRS Selects 10 New Members for Electronic Tax Administration Advisory Committee

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The following individuals have been appointed to serve three-year terms on the ETAAC beginning in September 2020: Dmitri Alexeev,...

The IRS Released Another IFR on PPP This Week

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This IFR has been updated for the laws that congress recently passed. Access it here.

Treasury and IRS Seeking Comments on Proposed Redesigned Partnership Form for Tax Year 2021

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The Treasury Department and the IRS are releasing the new draft Schedule K-2 (Form 1065), Partners’ Distributive Share Items - International and...

IRS provides guidance on recapturing excess employment tax credits

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The Internal Revenue Service issued a temporary regulation and a proposed regulation to reconcile advance payments of refundable employment tax credits and...

IRS Provides Relief from Physical Requirement for Retirement Plan Participants

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Notice 2020-42 provides participants, beneficiaries, and administrators of qualified retirement plans and other tax-favored retirement arrangements with temporary relief from the physical presence...

Publication 5419: New Employer Tax Credits

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The IRS released a flow chart that clearly explains The Employee Retention Credit, which is designed to encourage employers to keep employees...

IRS announces Form 1040-X electronic filing options coming this summer; major milestone reached for...

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The Internal Revenue Service announced today, May 28, that later this summer taxpayers will for the first time be able to...

SBA provides safe harbor for PPP loans under $2 million

Businesses that together with their affiliates accepted Paycheck Protection Program (PPP) funds of less than $2 million will be assumed to have...

Paycheck Protection Program FAQs as of May 13, 2020

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The Small Business Administration (SBA), in consultation with the Department of the Treasury have updated their FAQs as of May 13, 2020....

Common Form 7200 Errors

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The IRS has issued a list of common errors seen in filings that tax preparers should avoid when preparing Form 7200, Advance Payment...

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The Complicated Relationship of Accountants and Politics

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It all boils down to one thing – how are we going to pay for that? Every law that is signed into...

Latino Tax Fest (Virtual) 2020 to take place October 27-29

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Just in case you haven't heard and are looking for some year-end CPE, IRS CE credits or...

Six Reasons Tax Software Sucks

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With all the change, tragedy, and frustration 2020 has brought, it also has the distinction of the longest tax season in American...