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IRS Issues Guidance on Cash Payments Made by Employers Under Leave-Based Donation Programs Regarding Ukraine, Notice 2022-28
The IRS issued guidance on the federal income and employment tax treatment of cash payments made by employers under leave-based donation programs to aid victims of the further Russian invasion of Ukra...

IRS Urges Business Owners to Take Advantage of Tax Benefits for 2022, IR-2022-100; IR-2022-101; IR-2022-103; IR-2022-104
During the National Small Business Week, May 1 to 7, the IRS highlighted tax benefits and resources tied to the theme for this year’s celebration: " Building a Better America through Entrepreneurs...

FinCEN Behind on Anti-Money Laundering Act Implementation
The Financial Crimes Enforcement Network is behind but making progress on implementing the Anti-Money Laundering Act of 2020 (which includes the Corporate Transparency Act), FinCEN Acting Director Him...

Taxpayers Urged to Create Emergency Preparedness Plans for Surviving Natural Disasters, IR-2022-102
The IRS has reminded taxpayers to create or review emergency preparedness plans for surviving natural disasters. The Service has designated the month of May to include National Hurricane Preparedness ...

Yellen Call For U.S., EU Leadership On Corporate Minimum Tax
Treasury Secretary Janet Yellen is calling on the United States and the European Union to get the global corporate minimum tax into law in their respective territories....

Staffing Shortages Hampering IRS Processing Current And Backlog Returns–Treasury IG
The Internal Revenue Service continues to struggle with issues related to staff shortages, the Treasury Inspector General for Tax Administration said....

IRS Destroys Documents Amid Backlog as IG Calls For More E-Filing
A recent report by the Treasury Inspector General for Tax Administration primarily focused on the need for the Internal Revenue Service to expand its electronic filing capabilities also noted that the...

IRS Independent Office of Appeals Working to Reduce Cycle Times
WASHINGTON–The Internal Revenue Service’s Independent Office Of Appeals has seen its cycle times for handling appeals cases stretch to more than year during the COVID-19 pandemic, but the office i...

IRS Needs Better Online Tools for Taxpayers–NTA Collins
The Internal Revenue Service is not providing taxpayers with sufficient tools to manage their accounts online, National Taxpayer Advocate Erin Collins said....

How Do I? Get back start-up expenses in starting a business as quickly as possible
The American Jobs Creation Act of 2004 (2004 Jobs Act) changed the rules for start-up expenses in both favorable and unfavorable ways. Start-up expenditures are amounts that would have been deductible...

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