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IRS Watch

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June 10, 2020

IRS to expand Virtual Settlement Days

By Jeff Stimpson 1 min read

The service is looking to go online to help more taxpayers who aren’t represented by counsel.

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Tax Fraud Blotter: Doctors in the house

By Jeff Stimpson 4 min read

Root of a problem; in the pipeline; little oversight; and other highlights of recent tax cases.

IRS will waive fee for replacing discarded stimulus payment cards

By Michael Cohn 3 min read

The Internal Revenue Service won’t charge people who threw their stimulus money away because they thought the envelope was junk mail.

In the blogs: Here comes the write-off

By Jeff Stimpson 3 min read

Superseding returns; tax law vs. facts; IRS reopening continues; and other highlights from our favorite tax bloggers.

IRS allows remote signatures on retirement plan elections

By Michael Cohn 2 min read

The Internal Revenue Service is giving retirement plan participants and beneficiaries some added flexibility during the COVID-19 pandemic to remotely sign or have their retirement plan elections notarized.

IRS rules target coaches at Duke, Notre Dame, hospital chiefs

By Samuel McQuillan and Laura Davison 3 min read

The service issued guidance that levies a 21 percent excise tax on some nonprofit employees’ salaries above $1 million.

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Lease Accounting Fallout from COVID-19

Rent concessions, discount rates and more critical lease accounting topics affected by Coronavirus

IRS interest rates to fall in third quarter

By Jeff Stimpson 1 min read

Rates for overpayments will drop to 3 percent.

Is maximizing PPP loan forgiveness the real endgame?

By Roberto Hinojosa, Steven Pinsky 7 min read

A fresh look at the Paycheck Protection Program suggests other ways businesses may want to think about it.