IRS Issues Details, FAQs on Filing Exception for Partnership Schedules K-2, K-3
The IRS on February 16 provided, in a News Release, additional details about its recent statement that certain partnerships and …
National Taxpayer Advocate Testifies on IRS Backlog at Congressional Hearing
To address its backlog of unprocessed previous-year tax returns and weak customer support, the IRS should offer higher pay to …
Under Pressure from Congress, The IRS won’t use Facial Recognition for Online Account Access
In a February 7, 2022, news release, the IRS announced that it will “transition away” from using facial recognition verification …
ABA Tax Meeting: Lawyer Says Wait to See if IRS Alters View of Reportable Transactions
Despite encouraging signs from the U.S. Supreme Court in a remanded federal case over tax penalty exams, clients shouldn’t expect …
Parent of US Retailer Timberland Required to Recognize Income on Constructively Transferred Intangibles
The U.S. Tax Court has held that TBL Licensing LLC was required to recognize ordinary income when it constructively transferred …
Rep. Pascrell challenges massive college football head coach contracts
Letter to USC President House Ways and Means Oversight Subcommittee Chair Bill Pascrell (D-NJ) sent letters to the presidents of …
IRS Announces Opening Date of Filing Season for Business Returns
In a Quick Alert for Tax Professionals, the IRS has announced the beginning of the 2022 filing season for Modernized …
Tax Policy Q&A with EY’s Kate Barton
As global vice chair for tax at Ernst & Young, Kate Barton oversees the entirety of the accounting giant’s tax …
Key Tax Provision Changes to Remember Entering 2022
Before the new year, taxpayers and tax practitioners should plan for various changes affecting employment tax compliance, the Affordable Healthcare …
IRS Issues Guidance on the Retroactive Termination of the ERC
The IRS has issued guidance for employers on the retroactive termination of the Employee Retention Credit (ERC). The ERC was …