by Rupinder | Oct 7, 2020 | Uncategorized
The IRS continues to work through its mail backlog, which consists of over 5 million unopened items, according to IRS Commissioner Charles “Chuck” Rettig. Notably, there are an estimated 2.5 million unopened paper income tax returns included within the backlog. “We...
by Rupinder | Oct 2, 2020 | Uncategorized
The U.S. Small Business Administration (SBA) is expected to begin processing and issuing forgiveness for some Paycheck Protection Program (PPP) loans next week, according to a Treasury spokesperson. The announcement comes on the heels of a multitude of criticisms from...
by Rupinder | Oct 1, 2020 | Uncategorized
Treasury and the IRS, on the evening of October 1, 2020, issued final regulations for Achieving a Better Life Experience (ABLE) Accounts. ABLE Accounts ABLE accounts, enacted in 2014 under the ABLE Act (P.L. 113-295), serve to assist individuals with disabilities and...
by Rupinder | Sep 28, 2020 | Uncategorized
The National Society of Accountants (NSA) is pleased to report that its seminar, “Other Income: Taxable or Not” was the single most highly attended out of 30 seminars at the 2020 IRS Nationwide Tax Forum. According to information provided to NSA by the IRS, a total of...
by Rupinder | Sep 24, 2020 | Uncategorized
On behalf of NSA members, John Rice, CEO, and Jessica Jeane, director of public policy and communications, attended the IRS NPL Monthly Practitioner Meeting on September 24, 2020. Ahead of the meeting, NSA brought several member concerns to the IRS’s attention. NSA...
