News & Analysis as of August 24, 2025

Tax Returns

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Income taxes are taxes that are collected on the individual earnings of persons or entities. Depending on the jurisdiction, income taxes are calculated and collected in a variety of ways. Some tax systems collect income taxes based on a progressive scheme, while others may utilize a proportional or regressive framework. less -

IRS Issues Guidance Simplifying Income Tax Compliance Related to the Employee Retention Credit

Buckingham, Doolittle & Burroughs, LLC on 4/11/2025

The IRS recently released new FAQ guidance providing a simplified procedure for addressing income tax amendments and refund claims related to Employee Retention Credit (ERC) determinations. See IRS FAQs. Taxpayers claiming...more

IRS Changes Course on Income Tax Impact of Employee Retention Credit

Ballard Spahr LLP on 4/9/2025

On March 20, 2025, the IRS updated its guidance to employers that claimed the employee retention credit (ERC). The updated guidance materially differs from prior IRS guidance of how and when employers should report the income...more

Weekly IRS Roundup October 30 – November 3, 2023

McDermott Will & Schulte on 11/7/2023

Check out our summary of significant Internal Revenue Service (IRS) guidance and relevant tax matters for the week of October 30, 2023 – November 3, 2023. ...more

Weekly IRS Roundup October 16 – October 20, 2023

McDermott Will & Schulte on 10/23/2023

Check out our summary of significant Internal Revenue Service (IRS) guidance and relevant tax matters for the week of October 16, 2023 – October 20, 2023...more

Weekly IRS Roundup September 11 – September 15, 2023

McDermott Will & Schulte on 9/20/2023

Check out our summary of significant Internal Revenue Service (IRS) guidance and relevant tax matters for the week of September 11, 2023 – September 15, 2023...more

Weekly IRS Roundup January 30 – February 3, 2023

McDermott Will & Schulte on 2/6/2023

Presented below is our summary of significant Internal Revenue Service (IRS) guidance and relevant tax matters for the week of January 30, 2023 – February 3, 2023...more

IRS Announces Relief From Penalties On Some 2019 And 2020 Tax Returns

Polsinelli on 8/30/2022

The IRS just announced, in releasing Notice 22-36, that it will be automatically issuing an estimated $1.2 billion in refunds or credits related to failure to file penalties assessed against taxpayers on a broad range of 2019...more

Weekly IRS Roundup March 27 – April 2, 2022

McDermott Will & Schulte on 4/5/2022

Presented below is our summary of significant Internal Revenue Service (IRS) guidance and relevant tax matters for the week of March 27, 2022 to April 2, 2022... March 29, 2022: The IRS issued a news release reminding...more

IRS Provides Guidance on Reliance of FAQs for Penalty Protection Purposes

McDermott Will & Schulte on 10/19/2021

On October 15, 2021, the Internal Revenue Service (IRS) issued a news release and fact sheet for IRS Frequently Asked Questions (FAQs), which are typically posted on the IRS’s website. The purpose of the fact sheet is to...more

SCDOR Issues New Guidance on South Carolina Tax Appeal Procedures

Burr & Forman on 8/13/2020

The South Carolina Department of Revenue (“DOR”, “SCDOR”, the “Department”) recently issued SC Information Letter #20-22 in which it released a series of helpful “Information Guides” concerning updated and specific...more

Mid-Year Retirement Benefits Update

Sullivan & Worcester on 7/21/2020

The Internal Revenue Service has been busy issuing guidance over the last month or so on various retirement benefit issues. We want to be sure you are aware of these important updates. Retirement plan and IRA liquidity...more

Federal Tax Return Filing and Payment Update IRS Notice 2020-23

White and Williams LLP on 4/15/2020

The Internal Revenue Service (IRS) has issued a series of Notices over the last few weeks regarding tax return filing and payment deferrals and we have summarized the key aspects of the Notices in prior alerts. The IRS has...more

IRS Issues Notice Providing for the Delay of Federal Tax Filings and Federal Tax Payments

Greenberg Glusker LLP on 4/15/2020

Although it has occurred sporadically – Notice 20-17 on March 18, Notice 20-18 on March 21, Notice 20-20 on March 27 – the IRS has finally issued comprehensive (almost) guidance in Notice 20-23 on April 9 providing for the...more

Update: April 15th Federal Income Tax Return Filing and Payment Deadlines Postponed to July 15th

Foley Hoag LLP on 3/24/2020

The IRS and Treasury issued new guidance that supersedes earlier guidance relating to the postponement of the April 15, 2020 tax deadline due to the COVID-19 pandemic. On Friday, the IRS and Treasury announced that both the...more

Weekly IRS Roundup March 16 – 20, 2020

McDermott Will & Schulte on 3/24/2020

Presented below is our summary of significant Internal Revenue Service (IRS) guidance and relevant tax matters for the week of March 16 – 20, 2020. March 17, 2020: The IRS published Rev. Rul. 2020-9 to provide various...more

Oklahoma income tax filing dates delayed due to COVID-19

McAfee & Taft on 3/23/2020

The day after the Oklahoma Tax Commission followed the previous guidance issued by the Internal Revenue Service to allow taxpayers to defer income tax payments but not filing requirements, U.S. Treasury Secretary Steven...more

IRS Issues Formal Guidance on Postponement of 2019 Income Tax Payments and First Quarter 2020 Estimated Tax Payments

Harris Beach Murtha PLLC on 3/20/2020

On Wednesday, March 18, the IRS issued formal guidance in the form of Notice 2020-17 (the “Notice”) that adds clarity and broadens a recent US Treasury announcement that the April 15 Federal income tax payment deadline is...more

Virtual Currency

Herbert Smith Freehills Kramer on 12/3/2019

On Oct. 9, 2019, the Internal Revenue Service (the “Service”) issued Revenue Ruling 2019-24 concerning the tax consequences of virtual currency hard forks, as well as FAQs on the taxation of virtual currency generally. This...more

Weekly IRS Roundup September 23 – 27, 2019

McDermott Will & Schulte on 9/30/2019

Presented below is our summary of significant Internal Revenue Service (IRS) guidance and relevant tax matters for the week of September 23 – 27, 2019. September 24, 2019: The IRS issued a notice that provides a safe...more

Weekly IRS Roundup July 1 – 5, 2019

McDermott Will & Schulte on 7/8/2019

Presented below is our summary of significant Internal Revenue Service (IRS) guidance and relevant tax matters for the week of July 1 – 5, 2019. July 2, 2019: The IRS issued a Chief Counsel Notice wherein the Chief...more

Weekly IRS Roundup April 29 – May 3, 2019

McDermott Will & Schulte on 5/6/2019

Presented below is our summary of significant Internal Revenue Service (IRS) guidance and relevant tax matters for the week of April 29 – May 3, 2019. April 29, 2019: The IRS issued a news release urging taxpayers who had...more

IRS Releases New Guidance on Voluntary Tax Disclosures

Burr & Forman on 12/3/2018

A bedrock of IRS administrative practice has been the voluntary disclosure. Where an individual or business has not filed tax returns or believes they may have criminal tax exposure for prior actions, IRS procedures have...more

Maine Revenue Services Alerts Taxpayers That Amended 2017 Returns May Be Required

Pierce Atwood LLP on 10/2/2018

Maine Revenue Services (MRS) issued guidance late last week responding to the state’s recently-enacted tax conformity legislation. ...more

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