IRS Clarifies Required Minimum Distribution Reporting
The IRS recently issued Notice 2023-23, providing clarification to financial institutions on changes to reporting for required minimum distributions due to the SECURE 2.0 Act.
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IRS Office of Professional Responsibility Provides Guidance on ERC Claims
In response to requests from tax practitioners, the IRS Office of Professional Responsibility recently issued guidance on practitioners’ professional responsibility obligations in connection with clients’ Employee Retention Credit claims, including prior federal tax returns claiming the ERC that the practitioners did not themselves prepare.
View MoreTennessee Department of Revenue Updates Various Tax Manuals
The Tennessee Department of Revenue recently updated various tax manuals and released a brief overview of the substantive updates.
View MoreIRS Extends Lookback Period for Refund Claims Related to Pandemic
The IRS recently issued Notice 2023-21 to extend the lookback period for refund claims for tax returns with due dates that were postponed due to the pandemic.
View MoreTreasury and IRS Issue Final Regulations on e-file for Businesses
The U.S. Treasury Department and the IRS recently issued final regulations T.D. 9972, amending the rules for filing returns and other documents electronically.
View MoreTreasury and IRS Provide Interim Guidance on Alternative Minimum Tax
The U.S. Treasury Department and the IRS recently issued Notice 2023-20, providing interim guidance for insurance companies and certain other taxpayers for the new corporate alternative minimum tax until proposed regulations are issued.
View MoreIRS Announces Online Upload Option Now Available for 9 Notices
The IRS recently announced that taxpayers who receive certain notices requiring them to send information to the IRS now have the option of submitting their documentation online through IRS.gov.
View MoreTreasury and IRS Provide Guidance on Energy Program Credits
The U.S. Treasury Department and the IRS recently published guidance following the enactment of the Inflation Reduction Act to establish a program to provide solar and wind power to certain low-income areas and a program to allocate credits for qualified investments in eligible qualifying advanced energy projects.
View MoreIRS To Allow Direct Deposit for Electronically Filed Amended Returns
As part of its efforts to improve services for taxpayers, the IRS recently announced that people electronically filing their Form 1040-X, Amended U.S Individual Income Tax Return, will for the first time be able to select direct deposit for any resulting refund.
View MoreIRS Announces Saturday Hours at Many Taxpayer Assistance Centers
As part of a continuing effort to improve service this tax season, the IRS announced special Saturday hours for the next four months at Taxpayer Assistance Centers across the country.
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