Tax Newsletter November 2022
The December 2022 Newsletter will provide the remaining questions and answers from the Fall 2022 virtual sessions. In addition, 2023 inflation adjustments -selected issues and some tax planning opportunities issues. In This Issue: Our Fall Seminars Have Concluded – Part 1 of the Q and A Notice 2022-44 Special Per Diem Rates Effective October 1, […]
Tax Newsletter October 2022
In This Issue: IRS Backlog for Processing Forms 941 Increasing IRS Announces the Creation of a New Office New Charitable Remainder Trust IRS Web Page IRS Temporarily Made Form 990-T Data Public Texas Announces 2022 Fourth Quarter Local Sales and Use Tax Rate Changes Michigan Explains Personal Income Tax Treatment of Digital Currencies Office of […]
Tax Newsletter September 2022
In This Issue: COVID Tax Relief Patiently Wailing for the New Circular 230 Update – Potential Changes Reminder: Fingerprint Card Cut-off Date for the e-file Application Summary of Tax Provisions in the Inflation Reduction Act (IRA) Tax Tip 2022-122, Tips on Closing a Business Court Authorizes Service of John Doe Summons Seeking the Identities of […]
Tax Newsletter August 2022
Where’s My Refund? In This Issue: CP-14 Notices Technical Advice Addresses Penalties for Failing to E-File Returns – Program Manager Technical Advice 2022-005 Introduction of a Bill to Decriminalize, Tax Cannabis Manchin-Schumer Reconciliation Bill Released New York State Will Follow IRS Tax Deadline Extensions IRS Updates Feature on ‘Where’s My Refund?’ Taxpayers Can Now Track […]
Tax Newsletter July 2022
In This Issue IRS Increases Mileage Rate for Remainder of 2022 TIGTA Releases Public Service Announcements Warning Taxpayers of the Ongoing Threat of IRS Impersonation Scams Senate Bill Sets Stage for Crypto Tax Clarity Illinois—Cook County Minimum Wage Increase on July 1 Connecticut Provides a 10-year Statute of Limits, Revises Other Tax Collection Provisions, and […]
Tax Newsletter June 2022
IRS Statement Concerning the Destruction of 30 million Information Returns Due to Software Limitations – Tax Year 2020 In This Issue: Study States Nearly Half of Tax Returns Can Be Prefilled New Partnership Audits on the Horizon No Step-up in Basis for Private Foundation’s Assets Form 941 – A Bit of History Final Foreign Tax […]
Tax Newsletter May 2022
Tax Season – Officially Over – Notice Season Begins – Join Us for our May Webinars In This Issue: Reasons Why Some Tax Refunds Filed Electronically Take Longer Than 21 Days IRS Suspends Mailing of Certain Exempt Organization or Government Entity Notices Biden Administration 2023 Revenue Proposals – Not Law Yet but You Could Get […]
Tax Newsletter April 2022
2022 Filing Season Updates! In This Issue: Taxpayer Experience Office Formally Established IRS Update Regarding Recent Electronic Filing Challenges in Connection with Form 7203, S Corporation Shareholder Stock and Debt Basis Limitations President Biden Signs Executive Order on Digital Assets Iowa Tax Changes IRS Finalizes Fee Increase for SEE, Proposes Higher EA Fees Crowdfunding May […]
Tax Newsletter March 2022
In This Issue IRS Taxpayer Assistance Centers Open on Special Saturdays for Face-to-Face Assistance IR 2022-26 Offer in Compromise – What Are Our Options When the Client Owes Tax IRS Announces Transition Away from Third Party Verification When It Involves Facial Recognition Math Error Notices Galore Due to the Recovery Rebate Credit and IRS Suspends […]
Tax Newsletter February 2022
2022 Tax Season Begins on January 24th 2022, and Announces Deadline Information In This Issue List of Provisions Expiring in 2021 – Tax Planning Issues The 2022 Form W-4 Employee’s Withholding Certificate IRS Corrects the American Opportunity Tax Credit Identification Requirement in the FAQ’s IRS Announced Delays in Processing Employer Credit Advanced Payments FS-2022-02 Announcement […]
