Hjerpe & Tennison, CPAS

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Tax Briefing(s)

Build Back Better Act Infrastructure Investment and Jobs Act 2021 Year-End Tax Planning

IRS Reminds Taxpayers to Protect Personal and Financial Information Online
The IRS has reminded taxpayers about the continued importance of protecting personal and financial information online during National Cybersecurity Month. Further, the Service has urged parents, fam...

IRS and Organizations Highlight Charity Fraud Awareness
The IRS joined international organizations and other regulators in highlighting Charity Fraud Awareness Week on October 18-22. The campaign is run by an international partnership of charities, regul...

IRS Issues Information on Valid Research Credit Claims
The IRS issued information that taxpayers will be required to include for a research credit claim for refund to be considered valid. The current Treasury regulations require a refund claim to forth su...

IRS Updates Process for FAQs on New Tax Legislation
The IRS has updated its process for certain frequently asked questions (FAQs) on newly enacted tax legislation. The Service will now announce significant FAQs on newly enacted tax legislation, as well...

IRS Updates Audit Technique Guides on Real Property Foreclosures and the Construction Industry
The IRS has updated its real property foreclosure and construction industry Audit Technique Guides. An Audit Technique Guide focuses on developing highly trained examiners for particular market segmen...

Final Regulations Contain New User Fees for Estate Tax Closing Letter
The IRS issued final regulations that establish a new user fee of $67 for taxpayers requesting an IRS Letter 627, also called an estate tax closing letter. The fee is effective for requests for estate...

FBAR Relief Available for Victims of Recent Natural Disasters
The Financial Crimes Enforcement Network (FinCEN) is providing filing relief to taxpayers who have been adversely affected by Hurricane Ida, the California Wildfires, Tennessee Severe Storm and Floodi...

IL - Online retailer facilitating sale of third-party goods not a marketplace facilitator
The Illinois Department of Revenue (department) issued a letter ruling stating that an online retailer (taxpayer) was not considered a marketplace facilitator for Illinois sales and use tax purposes b...

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