August 2, 2021 Internal Revenue Bulletin: 2021-31 dated August 2 highlighted:
Rev. Rul. 2021-14 Determination of Issue Price in the Case of Certain Debt Instruments Issued for Property
Notice 2021-44 Update for Weighted Average Interest Rates, Yield Curves, and Segment Rates
Notice 2021-45 State Populations Residing in a Qualified Disaster Zone
Rev. Proc. 2021-30 Updated Employee Plans Correction Methods
Announcement 2021-12 Announcement of Disciplinary Sanctions From the Office of Professional Responsibility
August 3, 2021 A news release was issued addressing the Security Summit's outline for how tax professionals can assist clients who were victims of unemployment compensation fraud schemes targeting state workforce agencies in 2020 and 2021.
August 4, 2021 The Dept. of Treasury & the IRS provided additional guidance to employers claiming the employee retention credit, including for the third and fourth quarters of 2021 in a news release announcing Notice 2021-49: Guidance on the Employee Retention Credit under Section 3134 of the Code and on Miscellaneous Issues Related to the Employee Retention Credit that will be published in the IRB on August 23.
August 4, 2021 A news release reminded heavy vehicle owners of the August 31 deadline to file Form 2290, Heavy Highway Vehicle Use Tax Return for Tax Year 2021, for vehicles used on the road during July 2021.
August 5, 2021 The IRS published TD 9889: Investing in Qualified Opportunity Funds: Correction in the Federal Register containing corrections effective August 5, 2021 and applicable on or after January 13, 2020 to Treasury Decision 9889, which contained final regulations governing the extent to which taxpayers may elect federal income tax benefits with respect to certain equity interests in qualified opportunity funds, published on January 13, 2020.
August 5, 2021 The IRS published Notice 2021-47: 2021 Section 43 Inflation Adjustment in the Internal Revenue Bulletin, announcing the inflation adjustment factor and phase-out amount for determining the enhanced oil recovery credit.
August 6, 2021 Advance notice for Revenue Procedure 2021-31: Automobile Inflation to be published in the IRB on August 23.
August 6, 2021 The IRS released its Written Determinations weekly list.