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.
- IRS posts ARPA credit FAQson June 11, 2021 at 6:40 pm
The IRS has posted two sets of FAQs that explain changes to the child and dependent care credit and to the sick and […]
- Regs. on postponing tax deadlines due to federally declared disasterson June 10, 2021 at 8:38 pm
New IRS final regulations clarify when a federally declared disaster will lead to mandatory 60-day postponement of […]
- President’s budget contains many tax proposalson May 28, 2021 at 9:29 pm
The proposed $6 trillion fiscal year 2022 budget unveiled by the Biden Administration includes a host of tax items, […]
- Draft employer’s payroll tax return incorporates ARPA changeson May 27, 2021 at 4:00 pm
A proposed new version of Form 941, Employer’s Quarterly Federal Tax Return, reflects relief provisions of the […]
- Sorting out tax exempts’ UBTI painlesslyon May 24, 2021 at 4:33 pm
To help exempt organizations “silo,” or separately compute, their unrelated business or trade income, three experts […]
- COBRA premium assistance credit under ARPA clarifiedon May 19, 2021 at 4:55 pm
The IRS answered questions concerning COBRA continuation coverage premium assistance and the corresponding tax credit […]
- How nonfilers can claim advance child tax credit paymentson May 18, 2021 at 7:41 pm
The IRS explained in a revenue procedure how individuals can claim advance child tax credit payments and stimulus […]
- Supreme Court: Microcaptive reporting challenge may go forwardon May 17, 2021 at 9:22 pm
Reversing the Sixth Circuit, the Supreme Court held that an injunction sought against an IRS notice is not barred by […]
- Taxpayers deserve pandemic penalty relief, AICPA sayson May 17, 2021 at 7:46 pm
In a letter to the IRS and Treasury, the AICPA recommended, in light of the ongoing COVID-19 pandemic, that the IRS […]
- 6 key areas of paid tax preparer regulation highlighted in AICPA letter to Congresson May 12, 2021 at 12:05 pm
The Biden administration says the IRS should be given the authority to regulate paid tax return preparers who are […]
- IRS clarifies pandemic relief for dependent care assistance programson May 11, 2021 at 4:08 pm
Dependent care assistance program benefits carried over or available during an extended claims period under special […]
- 2022 HSA, excepted-benefit HRA amounts increase slightlyon May 10, 2021 at 9:33 pm
Maximum health savings account annual contributions will increase by $50 to $3,650 for self-only and $100 to $7,300 for […]
- 2021 child tax credit, EITC, and premium tax credit limits updatedon April 26, 2021 at 7:18 pm
The IRS issued guidance on the amount of and limitations on the child tax credit, earned income tax credit, and premium […]
- Expenses paid with 2020 PPP loans can be deducted on 2021 tax returnson April 22, 2021 at 8:43 pm
The IRS issued guidance on a safe harbor permitting qualifying taxpayers who have PPP loans, who did not deduct […]
- IRS extends e-signature authorization for 6 monthson April 20, 2021 at 9:05 pm
In response to the coronavirus pandemic, the IRS issued guidance extending the temporary authorization to issue a […]