TC: Partner Taxed on Distributive Share, Whether or Constructively Received
The Tax Court has held that a partner was liable for tax on her distributive share of income from the …
Reminder: Filing Deadline for Individuals with Extensions is October 15
In an information release, the IRS reminds individual taxpayers with filing extensions for their 2020 income tax returns that the …
IRS Commissioner Provides Overview of Key Areas Affecting Taxpayers
IRS Commissioner Charles Rettig, writing in an ongoing series of articles about various functions of IRS, provided an overview of …
Internal IRS Memo Clarifies some Additional Child Tax Credit Issues
In an internal memo, the IRS has clarified some issues regarding the additional Child Tax Credit. Additional child tax credit …
What to do if IRS Erroneously Assesses Tax After Taxpayer Petitions Tax Court
As a result of recent IRS and Tax Court administrative delays, IRS has erroneously closed cases and assessed taxes because …
Draft Nonresident Alien Instructions Updated to Remove COVID Exception
The IRS has issued draft instructions to Form 8233, Exemption From Withholding on Compensation for Independent (and Certain Dependent) Personal …
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 …
IRS Posts FAQs About Online Account for Individuals
On its website, the IRS has posted answers to frequently asked questions (FAQs) about Online Account. Online Account provides individuals …
IRS Creates Child Tax Credit Non-Filer Sign-Up Tool
In a Treasury Department press release, an IRS news release, and IRS webpages, IRS has announced its creation of the …