Federal Tax News
Check out the latest IRS provided tax news below. Tax news is updated regularly as the IRS posts new news and announcements about the tax industry and IRS procedures.
- AICPA requests tax deadline postponements until June 15on March 4, 2021 at 11:13 pm
In a letter, the AICPA asked the IRS to postpone until June 15, 2021, all 2020 federal income tax and information […]
- IRS issues employee retention credit guidanceon March 2, 2021 at 7:18 pm
The IRS issued guidance on the employee retention credit in effect for qualified wages paid after March 12, 2020, […]
- Tax provisions in the American Rescue Plan Acton February 27, 2021 at 3:45 pm
The stimulus bill passed by the House contains many tax provisions, including a new round of economic stimulus […]
- AICPA seeks certainty on filing deadline and relief for 2020 tax yearon February 24, 2021 at 5:02 pm
The AICPA has written to Treasury and the IRS, calling for certainty about the April 15 tax filing and payment deadline […]
- IRS provides cafeteria plan relief for the pandemicon February 19, 2021 at 4:05 pm
The IRS issued guidance on how employers can amend their health flexible spending arrangements and dependent care […]
- Senate shows bipartisan support for mobile workforce tax legislationon February 5, 2021 at 6:46 pm
The Senate voted to make room in the FY 2021 budget resolution for mobile workforce legislation. Details of the budget […]
- Eligible educators may deduct personal protective equipment expenseson February 5, 2021 at 5:05 pm
The IRS issued guidance providing a safe harbor under which eligible educators who have unreimbursed expenses for […]
- IRS requires corrected information returns for certain SBA loanson February 2, 2021 at 7:46 pm
The IRS issued guidance requiring lenders who mistakenly sent Forms 1099-MISC reporting loan payments that are […]
- Beware of identity theft scam involving unemployment benefitson January 29, 2021 at 7:32 pm
The IRS warned taxpayers that identity thieves are fraudulently claiming state unemployment benefits using stolen […]
- Employee retention credit changes leave practitioners with questionson January 28, 2021 at 8:55 pm
The IRS issued guidance on two aspects of the employee retention credit — how to claim the credit when filing the […]
- Partner capital account reporting gets transition penalty reliefon January 20, 2021 at 8:42 pm
Errors by partnerships in reporting partners’ tax capital accounts under new rules for 2020 may be excused, the IRS […]
- IRS explains extended payroll tax due dateson January 20, 2021 at 4:02 pm
The IRS issued updated procedures for the deferred employee portion of employment tax payments, which were further […]
- Some individual taxpayers get relief from underpayment penaltyon January 19, 2021 at 10:31 pm
The IRS granted individual taxpayers a waiver from the penalty for underestimated tax due solely to the amendment to […]
- Taxpayers need clarity on coordination of ERC and PPP loanson January 19, 2021 at 9:04 pm
The AICPA asked the IRS and Treasury to clarify that the filing of a Paycheck Protection Program loan forgiveness […]
- Tax filing season to start Feb. 12, IRS announceson January 15, 2021 at 8:25 pm
The IRS announced that it will start accepting 2020 tax returns on Feb. 12, a later date than usual. The delay stems […]