tax Advice Archive
More Clarity on CSED Problem
July 9, 2021
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TweetShareSharePin0 Shares In January of this year I wrote about a problem with the Collection Statute of Limitations (CSED) that my clinic encountered. In our quest to resolve the CSED problem, we involved the Local Taxpayer Advocate office. It confirmed that the CSED had run, despite the fact that the taxpayer’s account was still open,
Offsetting Stimulus Payments Due to a Taxpayer in Bankruptcy
July 8, 2021
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TweetShareSharePin0 Shares The case of Lockhart v. CSEA, et al, No. 1:20-ap-00038 shows another facet of the offsetting of last year’s stimulus payments. In this case the taxpayer owed past due child support, which was the one type of debt to which the stimulus payments could be offset; however, he argues that the offset in
Into the Weeds with the Advance Child Tax Credit – Including Dispute Resolution
July 7, 2021
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TweetShareSharePin0 Shares Last week, I wrote three blogs, here and here and here, trying to think through how an Advanced Child Tax Credit (AdvCTC) could be administered through the tax system and by the Internal Revenue Service. Jen Burdick also wrote a very thoughtful post about the need for due process protections associated with the
Issues with Automated Guidance
July 6, 2021
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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
The Importance of Notice and Hearing Rights for the Advanced Child Tax Credit
July 2, 2021
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Today we welcome first-time guest blogger Jennifer Burdick. Jen is an attorney with Community Legal Services of Philadelphia focusing on SSI benefits. In this post, she explains the notice and appeal rights that typically
Schemes peddled by tax promoters
July 1, 2021
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News Procedure & Administration By Dave Strausfeld, J.D. In the fourth and final installment of this year’s IRS “Dirty Dozen” list, which highlights common tax-related scams, the IRS cautioned taxpayers to be on the lookout for schemes peddled by unscrupulous tax promoters, including syndicated conservation easements, abusive microcaptive insurance arrangements, and other
Farm businesses receive guidance on tax treatment of losses
July 1, 2021
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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
Bank information can now be updated on child tax credit portal
July 1, 2021
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TweetShareSharePin0 Shares The IRS on Wednesday added a new feature to its Child Tax Credit Update Portal to allow individuals to update their bank account information in order to receive monthly advance child tax credit payments (IR-2021-143). The IRS says any updates made by Aug. 2 will be reflected in the scheduled Aug. 13 payment
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July 1, 2021
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The Family and Worker Benefit Unit
July 1, 2021
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TweetShareSharePin0 Shares In my last two blogs here and here, I have tried to think through how to reconcile challenging and sometimes competing policy and administrative considerations in order to pay the Child Tax Credit in advance throughout the tax year on a monthly basis. In this blog post I turn to the broader issue
