IRS Taking Steps to Increase Operations
On the IRS website, the IRS Commissioner has explained that the IRS anticipates bringing more people back into its campuses …
New Economic Impact Payment FAQs Include Answer About Prepaid Debit Cards
IRS has provided additional information, in the form of FAQs, about economic impact payments under the CARES Act. One FAQ …
IRS Finalizes Corporation Related Party Debt Regs
IRS has finalized, without substantive change, 2016 proposed regs that treat certain indebtedness as stock that is issued by a corporation …
IRS Encourages Questions on COVID-19 Payroll Tax Law/Form Changes
Payroll tax professionals had many questions for the IRS during a May 7 payroll industry telephone conference call with respect …
June 4 Deadline for Taxpayer Response to IRS Micro-Captive Insurance Letter
In a statement, the IRS has automatically extended the due date of responses to IRS Letter 6336 from May 4, …
IRS Temporarily Modifies Tax-Exempt Bond Reissuance and Retirement Rules
In a Notice, the IRS has temporarily expanded the circumstances and time periods in which a tax-exempt bond that is …
Processing Offers in Compromise That Include a Transition Tax Liability
In a memo, the IRS Small Business/Self-Employed (SB/SE) Division has issued guidance to its employees on how to process an …
IRS Provides CARES Act Safe Harbors to REMICs
In a Revenue Procedure, the IRS has provided safe harbors under which modifications to certain mortgage loans, in connection with …
IRS Division Relaxes Information Document Request Timelines
In a memo, the IRS Tax Exempt and Government Entities (TEGE) Division has relaxed rigid timelines, through July 15, 2020, …
IRS Division Suspends some Information Document Request Enforcement
In a memorandum, the IRS Large Business and International (LB&I) Division has temporarily suspended, through July 15, 2020, information document …