IRS Commissioner Testimony Includes Information on Tax Gap and Monthly Child Tax Credits
In April 13 testimony to the Senate Finance Committee, IRS Commissioner Charles Rettig testified that he believes that the annual …
IRS: No Need to Amend 2020 Returns to Get Unemployment Exclusion
In a News Release, IRS has announced that taxpayers who already filed their 2020 individual tax return without taking advantage …
House Passes ARPA COVID-19 Relief Bill
The House on Wednesday passed the $1.9 trillion American Rescue Plan Act of 2021 (ARPA, HR 1319). The Senate passed …
Individual Return Filing Season Will Start on February 12, 2021
In a News Release, IRS has announced that tax season will start on Friday, February 12, 2021, when the tax …
Guidance on Taxpayers, etc. Making Verbal Requests for Transcript Information
The IRS has provided guidance on taxpayers and their representatives making verbal requests for transcript information. Background. Tax transcripts are …
IRS Makes it Easier to Set Up Tax Payment Arrangements
In a News Release, IRS has announced a number of changes designed to help struggling taxpayers impacted by COVID-19 more easily …
CA 11 Affirms: Couple’s Multimillion-Dollar Tax Liability Nondischargeable
The Eleventh Circuit Court of Appeals, affirming a district court, has held that a married couple could not discharge in …
Final REGs Clarify Definition of Qualifying Relative
The IRS has issued final regs that clarify the definition of qualifying relative for purposes of various provisions of the …
Projected 2021 Inflation-Adjusted Tax Brackets and Other Key Figures
The income tax brackets, standard deduction amounts, and many other tax items are adjusted annually for cost-of-living increases. These adjustments …
Form 1040-X Can Now Be Filed Electronically
IR 2020-182 In a News Release, the IRS has announced that taxpayers will now be able to e-file Form 1040-X, …