tax Archive

Tax Extenders Slated to Expire at End of 2021

TweetShareSharePin0 Shares It’s that time of year when we review which items of the tax code are scheduled to expire or otherwise change in just a few days. An eclectic group of temporary tax policies approach their expiration dates, but at the last minute typically hitchhike onto must-pass legislation for another temporary extension. Not so

IRS Correspondence Exams: Doing Less with Less

TweetShareSharePin0 Shares I’m not a huge fan of the suggestion to “do more with less.” To me, it tastes like a corporate-sugar coat to otherwise clearly insipid advice: “be more efficient.” During the pandemic more than ever it should be clear that there are actual bandwidth limitations: sometimes you legitimately need more (time, resources, staff,

SALT payments before year end a priority for passthroughs

TweetShareSharePin0 Shares The IRS’s clarification in 2020 that partnerships and S corporations may deduct their state and local tax (SALT) payments at the entity level in computing their nonseparately stated taxable income or loss was welcomed by taxpayers and their advisers. After all, partners or shareholders might otherwise have to reckon with the Sec. 164(b)(6)

TIGTA Report on EITC Audit Procedures Suggests Room for Improvement in IRS Communication and Education Strategy

TweetShareSharePin0 Shares Today we welcome back guest blogger Anna Gooch. Anna highlights ongoing discussions of the IRS’s communication and education strategy between TIGTA, the IRS, and stakeholder groups. This topic is particularly timely following the President’s executive order on improving customer experience across the federal government, which states in part, that Creatively re-thinking taxpayer communication
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