Congress open to considering a pause on automated tax notices
National Taxpayer Advocate, Erin Collins, recommends the IRS pause automated collection notices. Congress may consider the recommendation.
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IRS releases guidance on timing of tax-exempt income for PPP loans
IRS releases Rev. Procs. 2021-48, 2021-49 and 2021-50 to address the treatment of tax-exempt income for PPP loans.
Build Back Better Act – Key international tax provisions
A revised version of the Build Back Better Act released by the House includes sweeping changes to the U.S. international tax system.
IRS releases 2022 retirement plan limitations
The IRS has released its annual cost-of-living adjustments for retirement plan limits, effective Jan. 1, 2022.