The IRS is temporarily allowing taxpayers to submit requests for private letter rulings, closing agreements, determination letters and information…
CARES Act QIP change requires action
Taxpayers with qualified property must act to take advantage of changes to the treatment of qualified improvement property, which…
Prop. regs. would govern silo rules for exempt organizations
The IRS issued proposed regulations on how to identify separate trades or businesses to determine a tax-exempt organization’s unrelated…
Relief for tax residency impacts of COVID-19 travel disruptions
Individuals and businesses can avoid having their prolonged stay in a country affect their tax residence if their cross-border…
Guidance sought on employee retention credit
In a letter to Treasury and the IRS, the AICPA pointed out several issues involving the new employee retention…
Deadline looms for nonfilers to register for child stimulus payments
Social Security and Railroad Retirement beneficiaries who didn’t file 2018 or 2019 tax returns must enter their children’s information…
IRS explains how to file returns to receive economic impact payments
The IRS issued guidance on how to file tax returns in order to receive an economic impact payment for…
IRS posts FAQs on paid sick and family leave
The IRS posted and updated 67 FAQs about the employer tax credits for paid sick and family leave enacted…
Veterans Affairs recipients to receive automatic economic impact payments
Recipients of Veterans Affairs benefits were added to the list of individuals who will automatically receive economic impact payments,…
How to take retroactive 100% bonus depreciation on QIP
The IRS issued procedures for how taxpayers can take advantage of the recently enacted technical correction to the rules…