The IRS issued guidance to employers and employees on reporting deferred Social Security tax on Form W-2, Wage and…
Template for requesting penalty abatement available from AICPA
The AICPA has created a template for members to use when requesting a penalty abatement from the IRS. Many…
2021 inflation adjustments and tax tables issued
The IRS issued the 2021 inflation adjustment amounts and tax tables for use in preparing 2021 tax returns in…
Inflation-adjusted income ranges for 2021 IRA and 401(k) plans
The IRS announced that the income ranges for employee participation in workplace 401(k) plans and IRA contributions will increase…
Draft instructions for partnership capital account reporting released
The IRS released draft instructions for Form 1065, U.S. Return of Partnership Income, to calculate partner capital accounts using…
Unclaimed property distributions allowed as self-certified rollovers
The IRS issued guidance adding state unclaimed property fund distributions to the list of reasons that taxpayers may self-certify…
Unclaimed property distributions allowed as self-certified rollovers
{$inline_image} The IRS issued guidance adding state unclaimed property fund distributions to the list of reasons that taxpayers may self-certify…
FBAR deadline extended to Oct. 31 after confusion
After a misworded posting caused confusion about the 2020 deadline to file FBARs (i.e., FinCEN Form 114, Report of…
Inflation-adjusted limit for 2021 HRAs issued
The IRS issued the 2021 limit for excepted benefit health reimbursement arrangements using the Chained Consumer Price Index for…
Inflation-adjusted limit for 2021 HRAs issued
{$inline_image} The IRS issued the 2021 limit for excepted benefit health reimbursement arrangements using the Chained Consumer Price Index for…