October 7, 2021
Here is a summary of key IRS and tax news and developments for October 4, 2021 - October 8, 2021:
October 4: Internal Revenue Bulletin: 2021-40 highlights:
Rev. Rul. 2021-18: Federal rates; adjusted federal rates; adjusted federal long-term rate, and the long-term tax exempt rate for October 2021.
October 4: Tax relief for North Carolina victims of Tropical Storm Fred was updated to include Ashe, Graham, Jackson and Mitchell counties.
October 4: A Homestead, Florida man was sentenced to 54 months in federal prison for filing 745 false tax returns in19 states. Read the IRS Criminal Investigation Press Release.
October 4: An IRS news release announced 18 new self-study seminars available through the IRS Nationwide Tax Forums Online. Tax professionals can earn continuing education for $29 per credit.
October 4: An IRS tax tip provided facts about additional time farmers and ranchers forced to sell livestock due to drought may have to replace livestock and defer tax on gains.
October 5: The IRS published a news release about the Free File program, available through October 15 for 2020 extension filers.
October 5: An IRS tax tip addressed common questions about shared custody and advance child tax credit payments.
October 5: The latest IRS FSLG Newsletter discusses registration for the Reconciliation of Payroll Webinar on October 14, 2021.
October 5: The United States Tax Court posted a new publication, Court Standards and Protocols to Protect Public Health, and issued Administrative Order 2021-02, Washington, D.C. Courthouse Access to provide guidance on in-person proceedings,
October 6: The IRS sent advance notice of Notice 2021-58: Extension timeframes for elections and payments of COBRA premiums, clarifying that the disregarded period to elect COBRA continuation coverage and the disregarded period to make initial and subsequent COBRA premium payments run concurrently, and providing timelines for calculating when to elect and make initial COBRA payments.
October 7: An IRS QuickAlert announced the Affordable Care Act Assurance Testing System (AATS) environment will be unavailable midnight 10/24/2021 through 11/2/2021 7 a.m. ET as the IRS updates programming for Filing Season 2022/Tax Year 2021.
October 7: The IRS published the Tax Exempt Government Entities Fiscal Year 2022 Program Letter listing priorities for the new fiscal year.
October 7: A Pittston, Pennsylvania man was sentenced to 18 months in prison and ordered to pay $397,406.91 in restitution, representing the tax loss to the United States, for failing to pay federal income and payroll taxes. Read the IRS Criminal Investigation Press Release.
October 7: Proposed regulations and TD 9955 interim final regulations with request for comments were published in the Federal Register on Requirements Related to Surprise Billing: Part II.
October 8: The weekly IRS Written Determinations list was updated (taxpayer-specific rulings and determinations, technical advice memoranda, and Chief Counsel Advice).