depreciation deductions
Subscribe to depreciation deductions's Posts

Weekly IRS Roundup November 2 – November 6, 2020

Presented below is our summary of significant Internal Revenue Service (IRS) guidance and relevant tax matters for the week of November 2, 2020 – November 6, 2020. Additionally, for continuing updates on the tax impact of COVID-19, please visit our resource page here. November 2, 2020: The IRS announced COVID-19-related changes to tax debt collection procedures to provide taxpayer relief. November 4, 2020: The IRS released Rev. Proc. 2020-48 regarding discount factors used by insurance companies for the 2020 accident year. November 4, 2020: The IRS released Rev. Proc. 2020-49 regarding the public approval requirement for tax-exempt qualified private activity bonds. November 5, 2020: The IRS released Rev. Rul. 2020-23 related to certain distributions upon termination of a section 403(b) retirement plan. November 5, 2020: The IRS updated FAQs related to qualified intermediaries, withholding for foreign partnerships and withholding for foreign trusts. November...

Continue Reading

Weekly IRS Roundup February 11 – 15, 2019

Presented below is our summary of significant Internal Revenue Service (IRS) guidance and relevant tax matters for the week of February 11 – 15, 2019. February 11, 2019: The IRS issued a news release promoting online resources for answering taxpayer questions, in anticipation of high call volume over the Presidents Day weekend. February 12, 2019: The IRS issued a news release announcing the release of the National Taxpayer Advocate’s 2018 Annual Report to Congress, which reported on, among other things, the effect of the shutdown on IRS operations and the need to modernize the IRS’s IT systems. February 12, 2019: The IRS issued a news release promoting its “Where’s My Refund?” online tool as a way for taxpayers to check on the status of their tax refunds. February 13, 2019: The IRS released Revenue Procedure 2019-13, providing a safe harbor method of accounting for determining depreciation deductions for passenger automobiles that qualify for the 100%...

Continue Reading

STAY CONNECTED

TOPICS

ARCHIVES