IRS Issues Guidance Regarding the Retroactive Termination of the Employee Retention Credit
The IRS recently issued guidance for employers regarding the retroactive termination of the Employee Retention Credit.
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Volunteers Needed for VITA Free Tax Prep Program
Filing your taxes can be daunting—especially for low- to moderate-income individuals. Too many of our neighbors are paying hundreds of dollars in filing fees and aren’t accessing important tax credits they deserve.
View MoreIRS Extends Electronic Signatures on Tax Forms Through Oct. 31, 2023
The IRS recently released Memos NHQ-10-1121-0005 and NHQ-01-1121-0004, which extend the ability to electronically sign a number of different tax forms and compliance documents through Oct. 31, 2023.
View MoreBuild Back Better Act Includes Many Tax Provisions
The U.S. House of Representatives recently passed H.R. 5376, the Build Back Better Act, which includes a wide variety of budget and spending provisions, including many tax provisions.
View MoreIRS Issues Further Guidance on Tax Treatment of PPP Loan Forgiveness
The IRS recently issued three revenue procedures regarding the treatment of amounts excluded from taxpayers' gross income connected to the forgiveness of Paycheck Protection Program loans.
View MoreIRS Releases FAQs on Taxability and Reporting of Payments from Coronavirus State and Local Fiscal Recovery Funds
The IRS recently released frequently asked questions and answers regarding Coronavirus State and Local Fiscal Recovery Funds.
View MoreIRS Issues Guidance on Per Diem Rates and Temporary 100 Percent Deduction for Food or Beverages from Restaurants
The IRS recently issued Notice 2021-63 to make clear how the temporary 100 percent business deduction for food or beverages from restaurants applies to taxpayers applying the rules of Revenue Procedure 2019-48 for using per diem rates.
View MoreIRS Provides Tax Inflation Adjustments for Tax Year 2022
The IRS recently announced the tax year 2022 annual inflation adjustments for more than 60 tax provisions, including the tax rate schedules and other tax changes.
View MoreInfrastructure Bill Tax Provisions Include Early ERC Termination
The early termination of the employee retention credit and the requirement of broker reporting of cryptoasset transfers are two tax provisions of H.R. 3684, the Infrastructure Investment and Jobs Act, which passed the House of Representatives last Friday.
View MoreIRS Issues Guidance Regarding Cost-of-Living Adjustments Affecting Dollar Limitations for Retirement-Related Items for 2022
The IRS recently issued Notice 2021-61 stating technical guidance regarding all cost-of-living adjustments affecting dollar limitations for pension plans and other retirement-related items for the tax year 2022.
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