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Federal Tax Updates

Timely analysis of federal tax law changes, guidance, and developments affecting practitioners.

A Look at Tax Reform Proposals

A Look at Tax Reform Proposals

A Look at Tax Reform Proposals On May 28, 2021, the Treasury Department released the “Green Book,” a description of revenue proposals within President Biden’s fiscal year 2022 budget. This…
RMDs are Back

RMDs are Back

RMDs are Back In today’s blog, Tom reminds tax professionals who have clients that need to take RMDs that they are not waived in 2021 the way they were last…
The IRS Says Don’t Amend Returns

The IRS Says Don’t Amend Returns

The IRS Says Don’t Amend Returns The IRS has provided more guidance and a safe harbor for deducting expenses paid with tax-free PPP money. And they still don’t want us…
Time Running Out to Claim 2017 Refund

Time Running Out to Claim 2017 Refund

Time Running Out to Claim 2017 Refund “The IRS wants to help taxpayers who are due refunds but haven’t filed their 2017 tax returns yet,” said IRS Commissioner Chuck Rettig….
Individual Filing Extension & American Rescue Plan Updates

Individual Filing Extension & American Rescue Plan Updates

Individual Filing Extension & American Rescue Plan Updates In this video, Tom covers news of the individual filing extension as well as updates to specific provisions of the American Rescue…
American Rescue Plan: What Tax Pros Should Know

American Rescue Plan: What Tax Pros Should Know

American Rescue Plan: What Tax Pros Should Know With the American Rescue Plan, signed by President Biden on March 11, 2021, comes a great deal of items for tax preparers…