TweetShareSharePin0 SharesInjured Spouse The phrase “injured spouse” has absolutely nothing to do with being literally hurt. In taxes, you may be an injured spouse if you file a joint tax return when your partner has past debts the IRS can collect. Also if you should be obtaining a reimbursement, the IRS could utilize all or
If you're experiencing a financial challenge, take into consideration CNC condition.
TweetShareSharePin0 Shares This has been a tough year for the IRS. For a variety of reasons not the least of which is the pandemic, it has faced numerous challenges. My understanding is that its performance in answering the general phone line during the filing season ranged somewhere between 2-5% which is not good but it’s
TweetShareSharePin0 Shares In 86 questions and answers, the IRS in Notice 2021-31 gave employers, health care plans, and insurers background and clarifications on how to provide premium assistance for COBRA health care continuation benefits to affected employees and other beneficiaries and claim a corresponding tax credit. The temporary premium assistance and credit are available under
TweetShareSharePin0 Shares Congress has passed legislation creating a much expanded child tax credit (CTC) and requiring the IRS to make advance payments of the CTC during the 2021 tax year starting in July. The expanded credit provides a $3,600 credit for every child under 6 and a $3,000 credit for every child under 17. The
TweetShareSharePin0 Shares In Rev. Proc. 2021-24, the IRS clarified how individuals who are not otherwise required to file 2020 federal income tax returns can claim advance child tax credit (CTC) payments as well as stimulus payments (i.e., third-round economic impact payments, 2020 recovery rebate credit payments, and additional 2020 recovery rebate credit payments). To process
TweetShareSharePin0 Shares In this brief post and following on Professor Bryan Camp’s discussion, I offer some initial observations on the Supreme Court’s CIC Services opinion. As Keith noted in his introduction to Bryan’s post, I am not disinterested in this issue-with the Harvard Clinic and on behalf of the Center for Taxpayer Rights I helped
TweetShareSharePin0 Shares A lawsuit against the IRS’s requirement that taxpayers using certain microcaptive insurance arrangements and their material advisers must report the arrangement to the IRS is not barred by the Anti-Injunction Act and therefore may proceed, the Supreme Court ruled Monday. In a unanimous decision, the Court in CIC Services, LLC, No. 19-930 (U.S.
TweetShareSharePin0 Shares Today, the Supreme Court handed down a unanimous opinion in CIC Services. The Court holds that the Anti-Injunction Act does not bar a suit challenging a IRS notice that requires a non-taxpayer to provide information even though the failure to provide the information could result in a penalty. Today, we bring an observation
TweetShareSharePin0 Shares News Practice & Procedures By Alistair M. Nevius, J.D. With taxpayers continuing to face challenges related to the COVID-19 pandemic and the IRS facing a backlog of 29 million tax returns that need manual processing, the AICPA on Monday urged the IRS to implement “fair, reasonable, and practical” penalty relief measures to