August 23, 2021 A news release announced the opening of the application period for the 2022 Compliance Assurance Process (CAP) program along with a continuation of the temporary modification to the open return eligibility criteria. Highlights and Updates for the CAP 2022 Application Period.
August 23, 2021 Internal Revenue Bulletin: 2021-34 highlights:
Notice 2021-49 Guidance on the Employee Retention Credit
Rev. Proc. 2021-31 Automobile price inflation adjustments
Rev. Proc. 2021-33 Safe harbor to exclude certain items from gross receipts to determine the employee retention credit.
August 23, 2021 A COVID tax tip discussed additional guidance for employers claiming the employee retention credit.
August 23, 2021 Tax relief for Louisiana victims of severe storms and flooding that began May 17, 2021 was expanded to include Assumption and Lafourche Parishes.
August 23, 2021 The IRS published a Notice and request for comments on the Burden Related to the Application for Exemption From Social Security and Medicare Taxes and Waiver of Benefits in the Federal Register.
August 24, 2021 U.S. Department of Justice press release - A Washington state tech executive was sentenced to two years in prison in the Western District of Washington for perpetrating a scheme to fraudulently obtain Small Business Administration COVID-19 disaster relief loans through the Economic Injury Disaster Loan and the Paycheck Protection Program under the Coronavirus Aid, Relief and Economic Security Act.
August 24, 2021 The IRS published Notices and requests for comments in the Federal Register:
Burden Related to Rules Relating to Registration Under Section 4101
Burden Related to the Limitations on Passive Activity Losses and Credits
August 25, 2021 A news release and Revenue Ruling 2021-17 announced that fourth quarter interest rates remain unchanged.
August 25, 2021 e-News for Charities & Nonprofits discusses FIRE System Update Coming September 2021; Updated Video: Exploring the Charities and Nonprofit Webpage; EIN Holders Must Update Any Change to Responsible Party; New Issue Snapshot; Deducting Charitable Contributions: Understanding Your Responsibilities.
August 26, 2021 The IRS "A Closer Look" column features Innovation at Work – Using Technology to Bring the IRS Forward, discussing modernization of services provided to the public, protecting taxpayer data and using technology to make the IRS more accessible.
August 26, 2021 U.S. Department of Justice press release - The owner of a Florida jet charter company agreed to pay $287,055 to settle allegations that he misappropriated Payment Protection Program loan proceeds for his personal expenses.
August 26, 2021 The IRS published Notices and requests for comments in the Federal Register: Burden Related to Form 8938, Statement of Specified Foreign Financial Assets and Repayment of a Buyout Prior to Re-Employment With the Federal Government.
August 27, 2021 Tax relief for victims of wildfires in California and tax relief for victims of severe storms and flooding in Tennessee was published on the IRS website. California victims have until November 15, 2021 and Tennessee victims have until January 3, 2022 to file various individual and business tax returns and make tax payments.
August 27, 2021 The United States Tax Court issued Administrative Order 2021-01, Policies for Remote (Virtual) Proceedings, outlining the policies adopted allowing for both in-person and remote trials.
August 27, 2021: The IRS released its Written Determinations weekly list.