January 23, 2022
Candace J. Dixon
Here are some key IRS and tax updates for the week ending January 14, 2022:
January 10, 2022
The IRS announced in a news release that tax season begins Monday, January 24, 2022, when they will begin accepting and processing 2021 returns.
January 10, 2022
The IRS announced the appointment of nine new members to the Internal Revenue Service Advisory Council (IRSAC) for 2022 in a news release.
January 10, 2022
The IRS issued a tax tip with important backup withholding deadlines: Form 945, Annual Return of Withheld Federal Income Tax, is due January 31, 2022 (February 10, 2022 if deposits were made on time and in full); and certain Information Returns are due to the IRS by February 28, 2022 for paper, and March 31, 2022 for electronic. 1099-NEC must be filed with the IRS by January 31, 2022 for both paper and electronically filed returns.
January 10, 2022
A Department of Justice News Release announced that Fessum Ogbazion of Cincinnati was sentenced to a year and a day in prison and will pay $933,708 in restitution for conspiring to commit fraud connected with his national tax return preparation company.
January 10, 2022
Rev. Rul. 2022-1 - Applicable Federal Rates for January 202
Notice 2022-1 - Instructions for Lenders and Loan Servicers Regarding Discharged Student Loans
Notice 2022-2 - Update for Weighted Average Interest Rates, Yield Curves, and Segment Rates
Notice 2022-3 - 2022 Standard Mileage Rates
Notice 2022-4 - Adjusted Applicable Dollar Amount for Fee Imposed by Sections 4375 and 4376
Rev. Proc. 2022-9 - Procedures to change methods of accounting
January 11, 2022
An advance of Notice 2022-5 - Relief for Qualified Low-Income Housing Projects, providing new relief and extending some temporary relief in Notice 2021-12 in response to COVID-19, was released; it will be in IRB 2022-5, Jan. 14, 2022.
January 11, 2022
The IRS published a News Releases for Frequently Asked Questions about the extensive update and streamlining of the 2021 Child Tax Credit and Advance Child Tax Credit Payments Frequently Asked Questions to help people claim it properly on 2021 tax returns in FS-2022-03.
January 11, 2022
The IRS announced that Washington victims of flooding and mudslides have until March 15, 2022 to file various individual and business tax returns and make tax payments.
January 12, 2022
An IRS news release announced the National Taxpayer Advocate 2021 Annual Report to Congress focusing on taxpayer impact of processing and refund delays.
January 12, 2022
The National Taxpayer Advocate's blog announced the release of its 2021 Annual Report to Congress (Executive Summary) and the fifth edition of the National Taxpayer Advocate’s Purple Book with 68 legislative recommendations to Congress, including calling for funding to improve taxpayer service; authorizing the IRS to establish minimum standards for paid tax return preparers, and amending the IRC to prohibit the offset of the Earned Income Tax Credit portion of tax refunds.
January 12, 2022
The U.S. Tax Court announced there would be no in-person proceedings in January 2022 because of the rapid increase in COVID-19 cases in this Press Release.
January 13, 2022
The IRS issued Fact Sheet 2022-04 and published a News release for frequently asked questions about Frequently Asked Questions and Answers for 2021 Recovery Rebate Credit.
January 13, 2022
The IRS encouraged people to use online resources when filing 2021 tax returns, including information on Economic Impact Payments and advance Child Tax Credit payments in a news release.
January 13, 2022
The IRS updated its IRS Operations During COVID-19 page.
January 14, 2022
IRS e-News for Small Business Issue 2022-01 was published.
January 14, 2022
An advance of Revenue Procedure 2022-10 establishing an 18-month pilot program for fast-track processing of private letter ruling requests under Associate Chief Counsel was released; it will be in IRB: 2022-6, February 7, 2022.
January 14, 2022
The IRS announced in a news release that Free File is available for qualifying taxpayers.
January 14, 2022
The IRS published revised Form 8038-CP, Return for Credit Payments to Issuers of Qualified Bonds including a new Schedule A, Specific Tax Credit Bonds Interest Limit Computation.
Correction: Hurricane Ida tax relief guidance
The December 22, 2021 news release about Hurricane Ida tax relief was revised with a correct deadline of February 15, 2022 for estimated third and fourth quarter 2021 tax payments.
Read Tax Law Weekly Opinion Summaries for January 14, 2022.
Further Reading:
January 2022 Criminal Investigation Press Releases
The IRS Weekly Determinations list published every Friday for taxpayer specific rulings and determinations, Technical advice memoranda, and Chief Counsel Advice.
See our forum for an ongoing list of IRS News & Updates for January 2022.