News & Analysis as of

Tax Returns Coronavirus/COVID-19

Ogletree, Deakins, Nash, Smoak & Stewart,...

IRS Resumes Processing New Claims for Employee Retention Credit

After lifting the moratorium on processing tax refund claims, the Internal Revenue Service (IRS) has begun processing a large backlog of claims for the employee retention tax credit (ERC), aimed at businesses impacted by...more

Buckingham, Doolittle & Burroughs, LLC

Employee Retention Credit on the Chopping Block as Congress Mulls Tax and Spending Bills

The Tax Relief for American Families and Workers Act of 2024 (H.R. 7024) would terminate the employee retention credit (ERC) for claims filed after January 31, 2024. Initially authorized by the CARES Act to incentivize...more

Miller Canfield

IRS Announces Denials of Employee Retention Credit

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As described in our October 24 article “IRS Offers Forgiveness for Erroneous Employee Retention Credit Claims” the IRS has increased scrutiny on claims for the Employee Retention Credit (“ERC”). The IRS halted processing...more

DarrowEverett LLP

How IRS Is Cracking Down on Employee Retention Tax Credit Fraud

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The Internal Revenue Service (“IRS”) has recently devoted great attention to detecting, investigating, and prosecuting fraud, particularly as it relates to the Employee Retention Tax Credit (“ERC”) post-COVID. On a webinar...more

McDermott Will & Emery

Weekly IRS Roundup April 17 – April 21, 2023

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Check out our summary of significant Internal Revenue Service (IRS) guidance and relevant tax matters for the week of April 17, 2023 – April 21, 2023...more

McDermott Will & Emery

Weekly IRS Roundup September 19 – September 23, 2022

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Presented below is our summary of significant Internal Revenue Service (IRS) guidance and relevant tax matters for the week of September 19, 2022 – September 23, 2022....more

McDermott Will & Emery

Weekly IRS Roundup September 12 – September 16, 2022

McDermott Will & Emery on

Presented below is our summary of significant Internal Revenue Service (IRS) guidance and relevant tax matters for the week of September 12, 2022 – September 16, 2022...more

Lowndes

Good News: IRS Grants $1.2 Billion in Penalty Relief for Taxpayers Impacted by Covid-19

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The senior living industry was hit hard by the Covid-19, and the IRS recently announced relief for people or businesses who filed their 2019 or 2020 tax returns late as a result. If your business was subject to failure to...more

ArentFox Schiff

Federal Penalty Relief for Certain 2019 and 2020 Tax Returns Filed on or Before September 30, 2022

ArentFox Schiff on

The US Internal Revenue Service (IRS) recently released Notice 2022-36, in which the IRS announced that it is automatically waiving (and automatically abating, refunding, or crediting, as appropriate) penalties for failure to...more

McDermott Will & Emery

Weekly IRS Roundup August 22 – August 26, 2022

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Presented below is our summary of significant Internal Revenue Service (IRS) guidance and relevant tax matters for the week of August 22, 2022 – August 26, 2022....more

Freeman Law

A Primer on the Employee Retention Credit (ERC)

Freeman Law on

The Employee Retention Credit – Introduction. Congress acted quickly during the worldwide COVID-19 pandemic to provide hiring and other economic incentives to employers. One particularly helpful relief provision—the employee...more

McDermott Will & Emery

Weekly IRS Roundup March 20 – March 26, 2022

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Presented below is our summary of significant Internal Revenue Service (IRS) guidance and relevant tax matters for the week of March 20, 2022 – March 26, 2022... March 21, 2022: The IRS issued Revenue Ruling 2022-07,...more

McDermott Will & Emery

Weekly IRS Roundup December 20 – December 24, 2021

McDermott Will & Emery on

Presented below is our summary of significant Internal Revenue Service (IRS) guidance and relevant tax matters for the week of December 20, 2021 – December 24, 2021... December 20, 2021: The IRS published a news release...more

McDermott Will & Emery

Weekly IRS Roundup November 15 – November 19, 2021

McDermott Will & Emery on

Presented below is our summary of significant Internal Revenue Service (IRS) guidance and relevant tax matters for the week of November 15, 2021 – November 19, 2021... November 15, 2021: The IRS published a news release...more

Fisher Phillips

IRS Addresses Lingering Employer Questions Regarding COBRA Premium Assistance and Corresponding Tax Credits under the American...

Fisher Phillips on

The American Rescue Plan Act (ARPA) provides for 100% premium assistance to certain qualified beneficiaries for continuation coverage under the Consolidated Omnibus Budget Reconciliation Act of 1985 (COBRA) for periods of...more

Foster Garvey PC

To All of the Tax Return Preparer Professionals and Their Staffs: Thank You for Your Service

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For the second year in a row, the due date for the filing of income tax returns and the payment of taxes was extended. For most taxpayers, the extended deadline brought glee. For the tax return preparation community, however,...more

Oberheiden P.C.

Eleven of the IRS's Enforcement Priorities During the 2021 Tax Season

Oberheiden P.C. on

It is tax season once again. While the Internal Revenue Service (IRS) has extended this year’s filing deadline to May 17, 2021 for individuals, businesses must still file by April 15, and all U.S. taxpayers must ensure that...more

Lowenstein Sandler LLP

Paycheck Protection Program: FAQs For Microbusinesses - UPDATED March 2021 #3

On December 27, the President signed into law the Consolidated Appropriations Act, 2021. The Act includes a roughly $900 billion COVID-19 relief package, known as the “Economic Aid to Hard-Hit Small Businesses, Nonprofits and...more

Burns & Levinson LLP

Individual Income Tax Filing and Payment Deadline Extended to May 17, 2021

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The U.S. Department of the Treasury and Internal Revenue Service announced on March 17, 2021, that the federal income tax filing due date for individuals will be automatically extended from April 15 to May 17, 2021. This...more

Bricker Graydon LLP

Federal and Ohio tax deadlines extended

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On March 17, 2021, the Treasury Department and the Internal Revenue Service announced that the federal income tax filing due date deadline has been extended from April 15, 2021 to May 17, 2021. At the same time, the IRS also...more

Greenberg Glusker LLP

IRS and California Franchise Tax Board Extend Deadlines for Individual Taxpayers to May 17, 2021 – What You Need to Know

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During the week of March 15, both the Internal Revenue Service and the California Franchise Tax Board extended the deadlines for individual taxpayers to file their 2020 income tax returns and pay their 2020 taxes from April...more

Gibney Anthony & Flaherty, LLP

New York State Extends Tax Filing Deadline to May 17, 2021

New York State has extended the due date for personal income tax returns and related payments originally due on April 15, 2021 to May 17, 2021. This follows the federal tax deadline which was also extended from April 15,...more

Bricker Graydon LLP

Federal tax deadline extended—No word from Ohio Department of Taxation yet

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On March 17, 2021, the Treasury Department and the Internal Revenue Service announced that the federal income tax filing due date deadline has been extended from April 15, 2021 to May 17, 2021. At the same time, the IRS also...more

BCLP

Federal Income Tax Due Date Postponed to May

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The IRS announced on Wednesday that the due date for individual federal income tax returns has been postponed to May 17, 2021. The postponement also applies to individuals who pay self-employment tax....more

Pierce Atwood LLP

Maine Individual Income Tax Deadline Extended to May 17, 2021

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On March 18, 2021, Maine Governor Janet Mills announced that the state will extend the deadline for Maine individual income tax payments from April 15, 2021 to May 17, 2021. The governor’s announcement comes one day after the...more

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