IRS is accepting applications for the Internal Revenue Service Advisory Council (IRSAC) through June 3. Members are appointed to three-year terms beginning in January 2023.
Tax professionals submitting Offers in Compromise (OICs) to IRS must use the most current year version of the Form 656-B, Offer in Compromise Booklet in order to avoid processing issues.
Revenue Procedure 2022-17 provides tables of limitations on depreciation deductions for owners of passenger automobiles, trucks and vans placed in service in 2022.
The SBA announced this week that it will provide an additional deferment of principal and interest payments for existing COVID Economic Injury Disaster Loan (EIDL) program borrowers
IRS has suspended more than a dozen automated taxpayer letters, including collection due notices, balance due notices, and unfiled tax return notices, until its backlog of returns is worked through.