Monthly Archive:: April 2021

IRS extends penalty relief for pandemic payroll credits

TweetShareSharePin0 Shares To continue to allow employers to take immediate advantage of various credits enacted in response to the COVID-19 pandemic, the IRS is permitting eligible employers who pay qualifying wages to retain an amount of the payroll taxes equal to the amount of qualifying wages that they paid, rather than deposit them with the

Partnership Audit and Adjustment Rules FAQs | Resources

TweetShareSharePin0 Shares This series of frequently asked questions (FAQs) provides answers to questions we are hearing from our members about the centralized partnership audit regime under the Bipartisan Budget Act of 2015 (BBA). ALERT: The IRS announced in Rev. Proc. 2020-23 that BBA partnerships, which are normally prohibited from filing an amended return after they

Document Retention FAQs for Tax Practitioners | Resources

TweetShareSharePin0 Shares 1 month ago · 5 min read This series of frequently asked questions (FAQs) provide guidelines for tax practitioners to consider when preparing a written document retention policy for their firm. Additional guidance is provided to help practitioners advise their clients on taxpayer record retention. Document retention policies for firm operations and client

Oversight, Disbursements, and Compromises | Tax Policy Center

TweetShareSharePin0 Shares Treasury announces oversight office for COVID-19 relief programs… Jacob Leibenluft will lead Treasury’s Office of Recovery Programs that will oversee the many COVID-19 relief programs Congress has approved in recent months. Deputy Secretary Wally Adeyemo says “A new, cohesive model for recovery program implementation at Treasury will help get relief distributed quickly and
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