Here is a summary of key IRS and tax news and developments for September 27, 2021 - October 1, 2021:
September 27: Internal Revenue Bulletin: 2021-39 highlights:
Final Reg. T.D. 9952 - Certain Non-Government Persons Not Authorized to Participate in Examinations of Books and Witnesses as a Section 6103(n) Contractor
Temporary regs. T.D. 9953 and Proposed reg. REG-109077-21 - Recapture of Excess Employment Tax Credits under the American Relief Plan Act of 2021.
Notice 2021-53 - Guidance on Reporting Qualified Sick Leave Wages and Qualified Family Leave Wages Paid For Leave Provided in 2021
Rev. Proc. 2021-41 - Computing Minimally Effectively Connected Income Under Sec. 824(b)
September 27: A news release announced a $67 user fee under final reg. TD 9957 will apply to estates that request a closing letter for federal estate tax returns starting Oct. 28.
September 27: The IRS "Closer Look" column discusses Providing Resources to Help Cannabis Business Owners Successfully Navigate Unique Tax Responsibilities.
September 27: The IRS published FY 2022 Effect of Sequestration on Small Business Health Care Tax Credit and FY 2022 Effect of Sequestration on State & Local Government Filers of Form 8038-CP on its Statements & Announcements web page.
September 27: The IRS published tips on how to avoid fraud and scams after a disaster.
September 27: Amended tax relief for disaster victims in Michigan, New York and Pennsylvania: Michigan tax relief was expanded to include Macomb and Oakland counties. Hurricane Ida relief was expanded to include Dutchess, Orange, Putnam, Rockland and Ulster counties in New York and Bedford and Northampton counties in Pennsylvania.
September 28: An advance of Rev. Proc. 2021-32 added Chile to the list of countries the United States has information exchange agreements with, and the Dominican Republic and Singapore to countries determined appropriate to have an automatic exchange relationship with.
September 28: An IRS tax tip gives an overview about recent legislation extending four temporary tax changes through the end of 2021 to help individuals and businesses who give to charity.
September 28: The IRS published a news release that they selected seven new members for the Electronic Tax Administration Advisory Committee (ETAAC).
September 28: e-News for Small Business 2021-14 was published.
September 28: The IRS sent advance notice of Revenue Procedure 2021-32: Implementation of Nonresident Alien Deposit Interest Regulations.
September 28: Final reg. TD 9957 - User Fee for Estate Tax Closing Letter was published in the Federal Register establishing a $67 user fee for requesting estate tax closing letters effective 10/28/2021.
September 28: Dept. of Justice Press Release - Texas Man Sentenced to Prison for Filing False Tax Returns with Stolen Identities.
September 29: The IRS published a notice of proposed rulemaking and public hearing in the Federal Register for proposed amendments to REG-100718-21 relating to user fees for the special enrollment examinations for enrolled agents and enrolled retirement plan agents.
September 29: An IRS tax tip reminded taxpayers who aren’t eligible for the Child Tax Credit to look into the Credit for Other Dependents.
September 29: Dept. of Justice Press Release - A federal court in the Southern District of Florida ordered a Miami-area tax preparer to pay a $403,969.70 contempt sanction for violating a permanent injunction that barred her from preparing, filing or assisting in the preparation or filing of federal tax returns for others.
September 30: SOI Tax Stats - Upcoming Data Releases - 2020 Program Documentation: Data Items by Forms and Schedules, Publication 5384 - the Federal tax forms, schedules, and information documents each of the subject-matter branches of SOI has selected for its tax year programs.
September 30: An IRS tax tip advised what tax professionals should do after a data theft or loss.
October 1: An IRS news release announced that the Oct. 15 FBAR extension deadline nears for foreign bank and financial account holders. Filers missing the April 15 annual due date this year received an automatic extension until Oct. 15, 2021, to file the FBAR. Filers affected by a natural disaster may have their FBAR due date further extended. It’s important to review relevant FBAR Relief Notices for complete information.
October 1: The weekly IRS Written Determinations list was updated.