November 26, 2021
Candace J. Dixon
This is a summary of significant tax and IRS happenings the week of November 22-26.
November 22, 2021
REG-109128-21, advance copy of proposed regs providing that “minimum essential coverage,” as used in health insurance-related tax laws, does not include Medicaid coverage that is limited to COVID-19 testing
November 22, 2021
Internal Revenue Bulletin: 2021-47
Rev. Rul. 2021-22 Section 995 - Taxation of DISC Income to Shareholders.
Notice 2021-61 Section 415 of the Internal Revenue Code (the Code) provides for dollar limitations on benefits and contributions under qualified retirement plans.
Rev. Proc. 2021-46 This procedure provides specifications for the private printing of red-ink substitutes for the 2021 Forms W-2 and W-3.
Actions Relating to Court Decisions
Mayo Clinic v. United States, 997 F.3d 789 (8th Cir. 2021). Nonacquiescence to the holding invalidating Treas. Reg. § 1.170A-9(c)(1)’s requirement that the primary function of an educational organization described in section 170(b)(1)(A)(ii) must be the presentation of formal instruction.
November 22, 2021
RR-2021-24: December Interest Rates
November 22, 2021
IRS resources help taxpayers determine if an offer in compromise is the right way to resolve tax debt
November 23, 2021
Interest rates remain the same for the first quarter of 2022
November 23, 2021
Child Tax Credit payments: Nov. 29 is last day for to opt out or make other changes
November 23, 2021
What small business owners should know about the depreciation of property deduction
November 26, 2021
e-News for Small Business Issue 2021-16
November 26, 2021
Interim final rules implementing provisions of the Internal Revenue Code, the Employee Retirement Income Security Act (ERISA), and the Public Health Service Act (PHS Act), as enacted by the Consolidated Appropriations Act, 2021 (CAA) applicable to group health plans and health insurance issuers offering group or individual health insurance coverage.