TAXES Archive
FAQs address calculation and reconciliation of recovery rebate credit
January 14, 2022
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TweetShareSharePin0 Shares The IRS on Thursday issued a fact sheet (FS-2022-04) of frequently asked questions (FAQs) intended to help taxpayers and their return preparers calculate the recovery rebate credit for 2021 tax returns. The recovery rebate credit for the 2021 tax year, as for 2020, must be netted against any economic impact payment (EIP) a
NTA Report Released: Essential Reading
January 14, 2022
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TweetShareSharePin0 Shares Earlier this week the NTA released the 2021 Annual Report to Congress (link to full report). The report also includes as a separate volume the 2022 Purple Book, which lists 68 legislative recommendations that focus on ways to strengthen taxpayer rights and improve tax administration. Both the Annual Report and the Purple Book
Tax Judgments and Quiet Titles
January 14, 2022
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TweetShareSharePin0 Shares I have written before about the effect of the IRS obtaining a judgment with respect to a tax assessment. In Boykin v. United States, No. 5:21-cv-00103 (W.D.N.C. 2022), the fact that the IRS had a judgment carries the day in a contest with a taxpayer involving a quiet title action. The case provides
tax cat
January 14, 2022
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TweetShareSharePin0 Shares Posted by caryatid on 2008-02-29 16:17:31 Tagged: , tax , cat , deduction TweetShareSharePin0 Shares
Tax Court Going Remote for the Remainder of January
January 13, 2022
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TweetShareSharePin0 Shares In an announcement that did not surprise me, or maybe only surprised me in that I thought I might see it last week, the Tax Court has announced that it will go remote for the remainder of January. This decision makes total sense given what is happening with the pandemic now and may
Local Taxes and the Federal Tax Lien
January 13, 2022
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TweetShareSharePin0 Shares Cases involving lien priority fights between the IRS and local taxing authorities became quite rare after the Tax Lien Act of 1966. That act has stood the test of time and brought federal lien law into the “modern” age. With almost no changes to the statute since its enactment, it still operates with
Transcript of Boechler Oral Argument
January 13, 2022
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TweetShareSharePin0 Shares For those unable to listen to the Boechler hearing or unwilling to devote that much time to it, here is a link to the transcript of the argument. I tried to listen to the argument, but it was a windy day on the farm causing me to catch bits and pieces but not
tax sign
January 13, 2022
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TweetShareSharePin0 Shares Posted by nextSTL on 2011-04-08 18:51:37 Tagged: , Taxes , sign TweetShareSharePin0 Shares
National taxpayer advocate details 2021 as ‘most challenging year’ ever
January 12, 2022
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TweetShareSharePin0 Shares National Taxpayer Advocate Erin M. Collins released her Annual Report to Congress on Wednesday, calling 2021 “the most challenging year taxpayers and tax professionals have ever experienced.” Lengthy delays by the IRS in processing tax returns and taxpayer correspondence, overwhelmed telephone assistance, shortcomings in the Service’s relatively new online taxpayer tools, and difficulties
Updated FAQs address 2021 child tax credit and advance payments
January 12, 2022
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TweetShareSharePin0 Shares The IRS has extensively updated for 2021 individual tax returns its website’s frequently asked questions (FAQs) on the child tax credit and its advance payments. The updates also were released as a 21-page fact sheet (FS-2022-03). One of 14 topic headings is “Reconciling Your Advance Child Tax Credit Payments on Your 2021 Tax
