Federal Tax Update Podcast

This week we look at:

• IRS releases revised depreciation limits for 2022 for autos under IRC §280F
• Lawmakers send yet another letter to the IRS regarding stopping the sending of notices
• Farmer/fisherman estimated tax payment relief formalized in an IRS Notice

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This week we look at:

• Department of Labor warns §401(k) plan administrators regarding offer digital asset investment options
• No deduction allowed to corporation for paying tuition for training program for boyfriend of 100% shareholders’ daughter
• IRS announces program to deal with the backlog of returns and correspondence

This week we look at:

• IRS looks to increase EA user fees by over 100%
• Justice Department files motion to have staking case dismissed as moot
• IRS to grant relief to certain farmers and fisherman impacted by inability of some tax software to file Form 7203 by March 1