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April 09, 2021

2020 Filing Deadline for Individuals Extended to May 17
The IRS and the Treasury Department have automatically extended the federal income tax filing due date for individuals for the 2020 tax year, from April 15, 2021, to May 17, 2021. Individual taxpayers...

Biden Signs COVID-19 Relief Package
On March 11, 2021, President Biden signed the American Rescue Plan Act of 2021. Some of the tax-related provisions include the following:...

Experts: IRS Guidance Needed on American Rescue Plan
The IRS needs to issue new rules and guidance to implement the American Rescue Plan, experts said on March 11 as President Joe Biden signed his COVID-19 relief measure....

Strengthening Tax Breaks to Promote Manufacturing Gets Bipartisan Support
Strengthening tax breaks to promote manufacturing received strong bipartisan support at a Senate Finance Committee hearing on March 16....

IRS Unopened Mail Backlog is Gone, Says Rettig
IRS Commissioner Charles "Chuck" Rettig told Congress on February 23 that the backlog of 20 million unopened pieces of mail is gone....

Cash Rewards for Money Order, Debit Card Purchases Included in Income
The Tax Court ruled that rewards dollars that a married couple acquired for using their American Express credit cards to purchase debit cards and money orders—but not to purchase gift cards—were i...

National Virtual Settlement Days Announced
The IRS Office of Chief Counsel has embarked on its most far-reaching Settlement Days program by declaring the month of March 2021 as National Settlement Month. This program builds upon the success ac...

Individual Not Entitled to Innocent Spouse Relief
An individual who owned a limited liability company (LLC) with her former spouse was not entitled to relief from joint and several liability under Code Sec. 6015(b). The taxpayer argued that she did n...

Penalty Not Timely Approved by Revenue Agent’s Supervisor
A married couple’s civil fraud penalty was not timely approved by the supervisor of an IRS Revenue Agent (RA) as required under Code Sec. 6751(b)(1). The taxpayers’ joint return was examined by th...

Guidance Released on Employee Payroll Tax Deferral
The Treasury and IRS have issued guidance on the recent order by President Trump to defer certain employee payroll tax obligations on wages paid from September 1, 2020, through December 31, 2020. Unde...

2020-2021 Special Per Diem Rates Released
The IRS has released the 2020-2021 special per diem rates. Taxpayers use the per diem rates to substantiate the amount of ordinary and necessary business expenses incurred while traveling away from ho...

Payroll Protection Payment
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