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How tax practitioners viewed filing season, plus ERC and BOI updates

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Manage episode 428404563 series 8007
Content provided by AICPA & CIMA. All podcast content including episodes, graphics, and podcast descriptions are uploaded and provided directly by AICPA & CIMA or their podcast platform partner. If you believe someone is using your copyrighted work without your permission, you can follow the process outlined here https://player.fm/legal.

Melanie Lauridsen, vice president–Tax Policy & Advocacy for the AICPA, joined the Journal of Accountancy podcast earlier this month to discuss the latest developments related to several items of note for tax practitioners.

Lauridsen shared data from a survey of members about IRS performance during tax filing season. She also analyzed recent IRS proposed regulations related to interest recapture on excess COVID-19 credits.

In her previous podcast update, Lauridsen focused on IRS data related to its performance during filing season. Lauridsen said that detailed information will be coming soon on the Tax Section Odyssey podcast related to the employee retention credit.

What you’ll learn from this episode:

· Updates related to employee retention credit (ERC) claims.

· Why ERC claims labeled “medium-risk” by the IRS are on hold.

· Lauridsen’s analysis of proposed regulations released by the IRS earlier this month.

· The focus of a Maryland opinion on beneficial ownership information (BOI) reporting requirements.

· The “awareness issue” related to BOI reporting.

· Why Lauridsen said that the sentiment of tax practitioners is not in alignment with that of the IRS when it comes to IRS performance during filing season.

· The “safe harbor” that could be offered by a congressional bill.

· Updates on AICPA advocacy work with several entities.

  continue reading

414 episodes

Artwork
iconShare
 
Manage episode 428404563 series 8007
Content provided by AICPA & CIMA. All podcast content including episodes, graphics, and podcast descriptions are uploaded and provided directly by AICPA & CIMA or their podcast platform partner. If you believe someone is using your copyrighted work without your permission, you can follow the process outlined here https://player.fm/legal.

Melanie Lauridsen, vice president–Tax Policy & Advocacy for the AICPA, joined the Journal of Accountancy podcast earlier this month to discuss the latest developments related to several items of note for tax practitioners.

Lauridsen shared data from a survey of members about IRS performance during tax filing season. She also analyzed recent IRS proposed regulations related to interest recapture on excess COVID-19 credits.

In her previous podcast update, Lauridsen focused on IRS data related to its performance during filing season. Lauridsen said that detailed information will be coming soon on the Tax Section Odyssey podcast related to the employee retention credit.

What you’ll learn from this episode:

· Updates related to employee retention credit (ERC) claims.

· Why ERC claims labeled “medium-risk” by the IRS are on hold.

· Lauridsen’s analysis of proposed regulations released by the IRS earlier this month.

· The focus of a Maryland opinion on beneficial ownership information (BOI) reporting requirements.

· The “awareness issue” related to BOI reporting.

· Why Lauridsen said that the sentiment of tax practitioners is not in alignment with that of the IRS when it comes to IRS performance during filing season.

· The “safe harbor” that could be offered by a congressional bill.

· Updates on AICPA advocacy work with several entities.

  continue reading

414 episodes

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