CTC Automatic Payments Being Sent The IRS announced that eligible families would automatically begin receiving monthly child tax credit (CTC) payments starting July 15. These payments cover half of the credit families will likely qual...
IRS Extends Leave-Based Donation Program Treatment The Treasury and IRS have extended the treatment provided in Notice 2020-46, I.R.B. 2020-27, 7, to cash payments made to Code Sec. 170(c) organizations after December 31, 2020, and before January 1...
Identity Theft Awareness Campaign Announced The IRS, state tax agencies, and the tax industry announced the annual campaign to raise awareness among tax professionals about data security. Continuing an effort to battle tax-related identity thef...
IRS and Community Partners Provide Tax Assistance The IRS has partnered with non-profit organizations and others in 12 cities to help eligible families file a 2020 return or register for the monthly Advance Child Tax Credit ( ACTC) payments using th...
2.2 Million EIPs Disbursed Under American Rescue Plan The IRS, Treasury and Bureau of the Fiscal Service announced disbursing more than 2.2 million additional Economic Impact Payments (EIPs) under the American Rescue Plan (ARP) ( P.L. 117-2). The IRS wi...
Routine Request Exception Applicable to Church Large Employer The IRS Chief Counsel ruled that when sent to a church applicable large employer, Letter 226-J is a routine request under Reg. §301.7611-1, Q&A-4. The letter was an initial communication with an ...
