Resource Sites

I greatly appreciate and recommend  the following publications and websites that are used as background material and theoretical foundation for this site.

I urge the visitors to these websites and  add these publications to their professional library.

“Checkpoint”-Research and guidance solutions that provide fast, accurate, and trusted answers for professionals – Thomson Reuters 

https://tax.thomsonreuters.com/en/checkpoint                          

 IRS Interactive Tax Assistant (ITA)

https://www.irs.gov/help/ita

 The American Institute of Certified Public Accountants, 1211 Avenue of the Americas, New York, NY.

 www.aicpa.org.

 U.S. Tax Reporter: Estate and Gift-Federal Taxes Weekly Alert 2020 Thomson

 https://store.tax.thomsonreuters.com/accounting/Tax/US-Tax-Reporter-Estate-and-Gift/p/100200366

 Electronic Code of Federal Regulations Internal Revenue Service, United States Department of the Treasury; U.S. Government Printing Office Publications and Pronouncements.

 https://www.ecfr.gov/cgi-bin/ECFR?page=browse

 2019-2020  Federal Tax Update Vern Hoven Tax Seminars, Western CPE

www.westerncpe.com

 Treasury Department Circular No. 230 (Rev. 4-2013); Regulations Governing the Practice of Attorneys, Certified Public Accountants, Enrolled Agents, Enrolled Actuaries, Enrolled Retirement Plan Agents, and Appraisers before the Internal Revenue Service.  

 www.IRS.Gov.

https://www.aicpa.org/interestareas/tax/resources/standardsethics/treasurydepartmentcircularno230.html

 AICPA’s 1040 Tax Return Workshop by Sid Kess  by Wendy Kravit, CPA, MBA.

 https://competency.aicpa.org/media_resources/209693-1040-tax-return-workshop-and-video-course

 CHECKPOINT® NEWSSTAND/PPC WG&L EBIA Tax & Accounting – Thomson Reuters 

TaxandAccounting@checkpoint.thomsonreuters.biz


IRS Federal Tax Update Topics Individual, Business, Real Estate & Corporate

https://www.irs.gov/newsroom/news-releases-for-current-month

IRS outlines changes to health care spending available under CARES Act

IR-2020-122, June 17, 2020 — The Internal Revenue Service has advised that new rules under the CARES Act provide flexibility for health care spending that may be helpful in the current environment where more people may need at-home services due to measures to fight the coronavirus.

IRS alert: Economic Impact Payments belong to recipient, not nursing homes or care facilities

IR-2020-121, June 16, 2020 — The Internal Revenue Service today alerted nursing home and other care facilities that Economic Impact Payments (EIPs) generally belong to the recipients, not the organizations providing the care.

Treasury, IRS provide tax relief to investors and businesses affected by COVID-19 in new markets tax credit transactions

IR-2020-120, June 12, 2020 — The Treasury Department and the Internal Revenue Service today provided tax relief for certain taxpayers affected by the COVID-19 pandemic involved in new markets tax credit transactions.

IRS provides guidance on employer leave-based donation programs that aid victims of the COVID-19 pandemic

IR-2020-119, June 11, 2020 — The Internal Revenue Service today provided guidance for employers whose employees forgo sick, vacation or personal leave because of the COVID-19 pandemic.

IRS reminder: File now, choose direct deposit or schedule tax payments electronically before the July 15 deadline

IR-2020-118, June 11, 2020 — As the July 15 tax-filing deadline ? postponed from April 15 ? draws near, the IRS is reminding all taxpayers who have yet to file their 2019 federal tax return to file electronically now, choose direct deposit for their refund, or pay any tax owed electronically.

IRS reminder: Deadline postponed to July 15 for those who pay estimated taxes

IR-2020-117, June 9, 2020 — The Internal Revenue Service reminds taxpayers that estimated tax payments for tax year 2020, originally due April 15 and June 15, are now due July 15.

Proposed regulations address direct primary care arrangements and health care sharing ministry memberships

IR-2020-116, June 8, 2020 — The Internal Revenue Service today released proposed regulations addressing the treatment of certain medical care arrangements under section 213 of the Internal Revenue Code.

IRS warns against COVID-19 fraud; other financial schemes

IR-2020-115, June 8, 2020 — The Internal Revenue Service today reminded taxpayers to guard against tax fraud and other related financial scams related to COVID-19.

IRS provides answers about Coronavirus related tax relief for Qualified Opportunity Funds and investors

IR-2020-114, June 4, 2020 — The IRS today provided guidance for Qualified Opportunity Funds (QOFs) and their investors in response to the ongoing Coronavirus Disease 2019 (COVID-19) pandemic.

Interest rates decrease for the third quarter of 2020

IR-2020-113, June 4, 2020 — The Internal Revenue Service today announced that interest rates will decrease for the calendar quarter beginning July 1, 2020.

IRS Chief Counsel goes virtual with national Settlement Days; Helps dozens of taxpayers settle their Tax Court cases

IR-2020-112, June 4, 2020 — The Internal Revenue Service Office of Chief Counsel is expanding its Virtual Settlement Days program after the tremendous success achieved by three offices that took Settlement Days events virtual in May 2020.

159 million Economic Impact Payments processed; Low-income people and others who are not required to file tax returns can quickly register for payment with IRS Non-Filers tool

IR-2020-111, June 3, 2020 — With 159 million Economic Impact Payments processed, the Internal Revenue Service reminds many low-income Americans who do not usually file tax returns to register for a payment by October 15.

IR-2020-94, May 12, 2020 — The Internal Revenue Service today issued proposed regulations under the Tax Cuts and Jobs Act (TCJA) that provide guidance to taxpayers and governments with respect to fines, penalties, and certain other amounts.

IRS provides guidance for estates and trusts for itemizing deductions

IR-2020-90, May 7, 2020 — The Internal Revenue Service today issued proposed regulations that provide guidance for estates and trusts clarifying that certain deductions of estates and non-grantor trusts are not miscellaneous itemized deductions.

IRS, Treasury issue guidance for applying UBTI “silo” rules for tax-exempt organizations by identifying separate trades or businesses

IR-2020-78, April 23, 2020 — The Treasury Department and the IRS today issued proposed regulations under the Tax Cuts and Jobs Act that provide guidance for tax-exempt organizations that are subject to the unrelated business income tax with more than one unrelated trade or business on how to calculate their unrelated business taxable income (UBTI).

Tax Time Guide: Tax Withholding Estimator helps retirees, workers and self-employed calculate taxes, fill out new Form W-4

IR-2020-53, March 10, 2020 — The IRS is encouraging taxpayers to take control of the size of their refund using the Tax Withholding Estimator on IRS.gov.

IRS updates guidance on business expense deductions for meals and entertainment

IR-2020-39, February 24, 2020 — The Internal Revenue Service issued proposed regulations on the business expense deduction for meals and entertainment following changes made by the Tax Cuts and Jobs Act (TCJA).

Treasury, IRS issue guidance to farmers on uniform capitalization rules

IR-2020-38, February 21, 2020 — The Treasury Department and IRS today issued Revenue Procedure 2020-13 providing procedures for farmers who have elected out of certain capitalization rules and want to apply the small business taxpayer exemption in the same taxable year.

IRS, Treasury issue proposed regulations updating income tax withholding rules

IR-2020-28, February 11, 2020 — The U.S. Department of the Treasury and the IRS today issued proposed regulations updating the federal income tax withholding rules to reflect changes made by the Tax Cuts and Jobs Act (TCJA) and other legislation.

Improved Tax Withholding Estimator helps workers target the refund they want; shows how to fill out new 2020 W-4

IR-2020-09, January 14, 2020 — The Internal Revenue Service has launched a new and improved Tax Withholding Estimator, designed to help workers target the refund they want by having the right amount of federal income tax taken out of their pay.



This site is designed to provide accurate and authoritative information about complex areas of tax, estate, and business planning.

The information contained on this site may change because of new tax legislation, Treasury Department regulations, Internal Revenue Service interpretations, or judicial interpretations of existing tax law.

This site is not intended to provide legal, accounting, or other professional services and is provided with the understanding that the publisher is not engaged in rendering legal, accounting, or other professional services.

This site and related material are intended for general information purposes only and does not and is not intended to constitute legal advice.

The reader should consult with legal counsel to determine how laws or decisions discussed herein apply to the reader’s specific circumstances and should not be used as a substitute for professional advice.

 If legal advice or other expert assistance is required, the services of a competent tax advisor should be sought.