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Tax Alerts

Tax Briefing(s)

2020 Post-Filing Season Update CARES Act Coronavirus Tax Relief

2020 Luxury Auto Depreciation Caps and Lease Inclusion Amounts Issued
The IRS has issued the luxury car depreciation limits for business vehicles placed in service in 2020, and the lease inclusion amounts for business vehicles first leased in 2020. The limits and amount...

IRS Addresses Common Tax Refund Myths
The IRS has addressed various myths regarding tax refunds, and reminded taxpayers that there is no secret way to find out when a refund will be issued. The IRS also commented on processing delays for ...

Treasury, SBA Announce Release of PPP Loan Data
Treasury and the Small Business Administration (SBA) announced on July 6 the public release of data regarding specific loans issued under the Paycheck Protection Program (PPP)."The PPP is providing mu...

CARES Act Waives RMDs for IRAs and Retirement Plans
The Coronavirus Aid, Relief, and Economic Security Act (CARES Act) ( P.L. 116-136) waives required minimum distributions (RMDs) during 2020 for IRAs and retirement plans, including beneficiaries ...

Taxpayers Getting Letters on Employer Credit Advance Payment Processing Delays
The IRS has started sending letters to taxpayers who have experienced delays in the processing of their Form 7200, Advance Payment of Employer Credits Due To COVID-19.If the IRS rejected Form 720...

IRS Postpones Deadline for CHNA Requirements
The IRS has further postponed, until December 31, 2020, the deadline for performing any community health needs assessment (CHNA) requirements due to be completed on or after April 1, 2020, and before ...

More Retail Partners Accepting Cash Federal Tax Payments
The IRS announced that additional retail partners are accepting cash payments for federal taxes. This option may be used by individuals and business taxpayers. The IRS’s continuing partnership w...

GAO: Tax Compliance Challenges Confront Platform Workers
According to a report released by the Government Accountability Office (GAO), various tax compliance challenges confront "platform workers" who often lack access to information about their e...

NTA Releases 2021 Objectives Report
National Taxpayer Advocate (NTA) Erin M. Collins released an objectives report to Congress on June 29. The report identifies taxpayer challenges arising from the COVID-19 pandemic, the Coron...

NJ - Collateral estoppel barred challenge to farmland assessment
For property tax purposes, the New Jersey trial court’s order dismissing a third-party taxpayer’s challenge to a borough's finding that the property was qualified to be assessed as farmlan...

NY - Request for conciliation conference properly denied as untimely
A taxpayer’s request for a conciliation conference with the Bureau of Conciliation and Mediation Services regarding an assessment of New York personal income tax was untimely because it was not ...

PA - Denial of refund of tax on assignment of ground lease affirmed
For purposes of Philadelphia realty transfer tax, the trial court did not err in denying the taxpayer’s petition for refund of tax paid on the assignment of a ground lease for all existing struc...

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