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guidance Archive

Issues with Automated Guidance

TweetShareSharePin0 Shares Following my post from last month, I write again about academic research related to the IRS’s technology plans. This time with an additional focus on some of the potential pitfalls and concerns. The government provides resources, information and assistance to help the public understand and apply the law. Technology has allowed the government

Farm businesses receive guidance on tax treatment of losses

TweetShareSharePin0 Shares The IRS issued Rev. Proc. 2021-14 on Wednesday instructing taxpayers with a net operating loss (NOL), consisting entirely or partly of a “farming loss,” as defined in Sec. 172(b)(1)(B)(ii), on how to make or revoke certain elections including those available under the Coronavirus Aid, Relief, and Economic Security (CARES) Act, P.L. 116-136. For
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