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Tax Briefing(s)

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

Automatic Consent Procedures Updated for Certain Accounting Method Changes
The IRS has updated automatic consent procedures for taxpayers to change their method of accounting to comply with final regulations under Code Secs. 263A, 448, 460 and 471 issued on January 5, ...

Form-Related Guidance on Early Termination of Employee Retention Credit Provided
The IRS has informed that taxpayers who are not recovery startup businesses are not eligible for the employee retention credit for wages paid after September 30, 2021 due to the amendments by the Infr...

IRS Releases New Form 8918, Material Advisor Disclosure Statement
The IRS has released a new version of Form 8918, Material Advisor Disclosure Statement, to include 2D barcodes. After June 1, 2022, the IRS will accept only the latest version of Form 8918 (Rev. Nove...

IRS Revises Form 1024 to Allow Electronic Submission
The IRS has revised Form 1024, Application for Recognition of Exemption Under Section 501(a), and its instructions to allow electronic filing for the first time. This development is the part of an ong...

IRS Criminal Investigation Releases Annual Report
The IRS-Criminal Investigation (IRS-CI) has released its Fiscal Year 2021 Annual Report. The report details statistics, important partnerships and significant criminal enforcement actions from IRS-CI,...

IL - 2022 withholding tax tables issued
Illinois issued a booklet containing personal income tax withholding tables effective January 1, 2022. Generally, the rate for withholding Illinois income tax is 4.95%.Additionally, the booklet explai...

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Saturday 8:00 AM - Noon

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