Presented below is our summary of significant Internal Revenue Service (IRS) guidance and relevant tax matters for the week of February 8, 2021 – February 12, 2021. Additionally, for continuing updates on the tax impact of COVID-19, please visit our resource page here.
On February 9, the Internal Revenue Service announced that Nancy Sieger would permanently fill the role of chief information officer. Nancy has served as the acting chief information officer since June 2019.
February 11, 2021: The IRS released Internal Revenue Bulletin 2021-7, dated February 16, 2021, containing the following highlights: TD 9938 (Excise Tax; Exempt Organizations); Notice 2021-10 (Income Tax).
February 12, 2021: The IRS released its weekly list of written determinations (e.g., Private Letter Rulings, Technical Advice Memorandums and Chief Counsel Advice).