IRS Selects 10 New Members for Electronic Tax Administration Advisory Committee
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
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
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
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
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
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...
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
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
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
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
Just in case you haven't heard and are looking for some year-end CPE, IRS CE credits or...
Six Reasons Tax Software Sucks
With all the change, tragedy, and frustration 2020 has brought, it also has the distinction of the longest tax season in American...