IRS Issues Temporary, Proposed Regs Authorizing Assessment of Erroneous Tax Credit Refunds
The IRS has issued temporary and proposed regs that authorize the assessment of any erroneous refund of employment tax credits …
Rev Proc: Procedures for Issuing Opinion Letters for Pre-Approved Tax-Sheltered Annuity Plans
The IRS has issued a revenue procedure setting forth, among other things, the IRS’s procedures for issuing Opinion Letters regarding …
IRS Updates its Procedures for Contacting Entities Seeking Exempt Status
IRS’s Tax Exempt and Government Entities (TE/GE) Division has issued a memo to its employees that updates procedures those employees …
Senate Finance Committee Chair Releases Draft of International Tax Reform Legislation
Senate Finance Committee (SFC) Chair Ron Wyden, D-Ore, released draft international tax reform legislation along with a section-by-section description of …
Senate Democrats Release Details of $3.5 Billion Human Infrastructure Plan
In a memo to Democratic Senators, the Senate Budget Committee has released details of a $3.5 trillion FY2022 budget resolution, …
IRS Issues Employee Retention Credit Guidance for Both 2021 and 2020
The IRS has issued guidance on the employee retention credit (ERC), including guidance regarding recent changes made to the ERC …
Senate Issues Text of Infrastructure Bill
Senate lawmakers over the weekend unveiled the text of the 2,700+ page infrastructure bill (H.R. 3684), setting up a long …
Reported Senate Deal on 1.1 Trillion Infrastructure Bill
With a reported deal in hand, the Senate is set to hold a procedural vote on whether to take up …
Senate Procedural Vote Halts Progress for $1 Trillion Infrastructure Bill
Senate lawmakers on July 21 defeated a procedural motion to take up a $1 trillion infrastructure spending measure, but lawmakers …
IRS Launches Tax Pro Account Website, Provides Instructions for Its Use
In a News Release and webpage, IRS has announced its launch of the Tax Pro Account website, which allows taxpayers …