Commissioner Rettig Asks Congress for More Tools to Regulate Cryptocurrency
In June 8 testimony before the Senate Finance Committee, IRS Commissioner Charles Rettig covered a number of subjects including his …
Details of President Biden’s Proposed Reformation of Capital Gains and Transfer at Death Rules
President Biden, in the recently-released Green Book, has proposed far-reaching changes to the taxation of capital gains and the treatment …
Biden Administration Issues its FY 2022 Tax Proposals in “Green Book”
The Department of the Treasury has issued detailed information about the Biden Administration’s tax proposals for fiscal year 2022 for …
FAQS: Taxability of Emergency Rental Assistance Payments
On its website, the IRS has posted answers to frequently asked questions (FAQs) about the taxability of Emergency Rental Assistance …
IRS Provides Update on Status of Processing Quarterly Returns and Tentative Refund Forms
On a webpage, the IRS has updated the status of processing Forms 941, Employer’s Quarterly Federal Tax Return, 941-X, Adjusted …
IRS Releases 2021 Inflation Adjustments for Energy Production Credit
The IRS has published, in the Federal Register, the inflation adjustment factors and reference prices for calendar year 2021 that …
Treasury Department Reports on President Biden’s “Made in America Tax Plan”
U.S. Department of the Treasury – The Made in America Tax Plan (4/7/2021) The Treasury Department has issued The Made in …
Biden Outlines Corporate Tax Increases to Pay for Infrastructure Bill
White House Briefing Room: American Jobs Plan (3/31/2021) President Biden has released a summary of the American Jobs Plan that …
Labor Department Withdraws Employee/Independent Contractor Classification Rule
The United States Department of Labor (the Department) has announced a final rule withdrawing the “Independent Contractor Status Under the …
Rev Proc Reflects ARP Act Amendments to 2021 Inflation Adjustments
The IRS updates certain amounts for inflation each year. The 2021 inflation amounts were announced in late 2020. Some of …