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tax Advice Archive

Practitioners wary of IRS service lapses as tax season begins

TweetShareSharePin0 Shares CPA tax professionals greeted the launch of tax season with skepticism that the IRS will be able to contend with its continuing logistical challenges, with taxpayers and their preparers likely to experience more frustration and delays. In announcing Monday that it would begin to accept and process 2021 tax returns on Jan. 24,

IRS to accept 2021 tax returns starting Jan. 24

TweetShareSharePin0 Shares The IRS will begin accepting and processing 2021 tax returns starting Jan. 24, the Service announced Monday. In News Release IR-2022-08, the IRS stated the date will allow it time to perform necessary programming and testing in advance of return filing, which it urged taxpayers and paid preparers to do electronically. “Filing electronically

New R&D credit documentation requirements clarified

TweetShareSharePin0 Shares The IRS provided guidance to taxpayers and internally on its new documentation requirements for administrative refund claims of the Sec. 41 business tax credit for increasing research activities (the R&D credit). The taxpayer guidance comes in the form of 16 frequently asked questions (FAQs) posted Wednesday on the IRS’s website. At the same

Goldring Is Back – With a Circuit Split

TweetShareSharePin0 Shares Last year, I wrote a couple of blog posts (here and here) about an order by the Eastern District of Louisiana: Goldring v. United States, 2020 U.S. Dist. LEXIS 177797, 2020 WL 5761119 (E.D. La. Sept. 28, 2020).  A significant amount was at issue, so the Goldrings appealed to the Fifth Circuit, which

What’s new for 2022 in federal taxes

TweetShareSharePin0 Shares While the Build Back Better Act’s smorgasbord of tax incentives for clean energy, new taxes on large corporations and wealthy individuals, and tax relief for others remains stalled for now in the Senate, 2022 nonetheless dawns with the advent of at least one new tax provision, lapses of a number of others, and

Making Additional Work for Yourself and Others

TweetShareSharePin0 Shares The way the IRS is processing paper returns filed in 2021 is adding significant complexity, cost and time for itself and for taxpayers. This post highlights the problems created for the clients of one preparer, which provide a lesson for everyone trying to get a paper return processed.  In each of the cases
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