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Hungry for Larger Tax Deductions? IRS Issues Additional Guidance on Temporary 100 Percent Meal Deduction

USA - May 4 2021 The intention of this temporary broadening of the deduction is very clearly aimed to assist the restaurant industry, which has been significantly…

Sean R. Schoppy.

Better Late Than Never ‒ IRS Confirms May 2021 Tax Payments Will Be Credited in Same Month

USA - April 14 2021 The key is the overpayment must have existed as of April 15, not created in anticipation of the delayed filing date of May 17, 2021. As we reported…

Michael A. Gillen.

IRS Adds Two New Compliance (Audit) Campaigns

USA - March 23 2021 And don’t be fooled by the term “business,” as LB&I, through its campaigns, also targets individuals. In a previous Alert, we wrote…

Michael A. Gillen.

What's New for Tax Year 2020 (When Filing in 2021)

USA - March 5 2021 Not surprisingly, tax planning and compliance activities continue to increase in complexity. Not only are we in the third year of…

John I. Frederick.

IRS Delays Start of Tax Filing Season to February 12

USA - January 25 2021 The IRS will not accept or process tax returns prior to February 12. The nation’s tax filing season is slated to begin on February…

Michael A. Gillen.