IRS Formally Establishes Taxpayer Experience Office
The IRS recently announced that it has formally established the first-ever Taxpayer Experience Office as part of a longer-term effort to improve taxpayer service.
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IRS Issues New FAQs on 2021 Earned Income Tax Credit
The IRS recently issued frequently asked questions for the 2021 Earned Income Tax Credit to educate eligible taxpayers on how to properly claim the credit when they prepare and file their 2021 tax return.
View MoreTSCPA Advocates for Businesses and Practitioners on Schedules K-2, K-3
Today, the AICPA and 52 state CPA societies sent a letter to Assistant Treasury Secretary Lily Batchelder and IRS Commissioner Charles Rettig regarding widespread concerns on the Schedules K-2 and K-3 reporting.
View MoreIRS and Treasury Release Proposed Regulations for Required Minimum Distribution Rules
The IRS and Treasury recently released proposed regulations REG-105954-20 that would amend rules for required minimum distributions from qualified retirement plans and annuity contracts and related matters to conform with statutory changes.
View MoreInterest Rates Increase for the Second Quarter of 2022
The IRS recently announced that interest rates will increase for the calendar quarter beginning April 1, 2022.
View MoreIRS Offers Authentication Alternative to Facial Recognition
The IRS recently announced that it is offering a new authentication option of a live, virtual interview with agents for taxpayers who prefer to sign up for an IRS online account without the use of any biometric data, including facial recognition.
View MoreIRS Provides Details on Relief for Partnerships Preparing Schedules K-2 and K-3 for 2021
The IRS recently released Notice 2021-39 announcing that it is providing an additional exception for tax year 2021 to filing Schedules K-2 and K-3 for certain domestic partnerships and S corporations and provided details on the relief in new frequently asked questions.
View MoreIRS Updates Recovery Rebate Credit FAQs for 2021
The IRS recently provided another update to the frequently asked questions for the 2021 Recovery Rebate Credit.
View MoreIRS Revises Voluntary Disclosure Preclearance Form
The IRS recently released a revised version of Form 14457, Voluntary Disclosure Practice Preclearance Request and Application, that includes an expanded reporting section and instructions for reporting virtual currency.
View MoreIRS Launches Resource Page on IRS.gov for Taxpayers During Filing Season
The IRS recently launched a special new page on IRS.gov to provide the latest details and information affecting the 2022 tax filing season and ongoing efforts by the agency to address the inventory of previously filed tax returns.
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