Joseph Dallas Bailey, CPA

01/12/2023

How many of the new 87,000 IRS agents will be hired?

The House of Representatives on January 10 approved a measure that would rescind almost all the $80 billion provided by Congress for the IRS to step up tax enforcement.

03/05/2021

https://www.journalofaccountancy.com/news/2021/mar/aicpa-requests-tax-deadline-postponements-june-15.html

In a letter, the AICPA asked the IRS to postpone until June 15, 2021, all 2020 federal income tax and information returns and payments (e.g., extension and estimated payments) originally due April 15, 2021.

05/06/2020

https://www.accountingtoday.com/news/senators-introduce-bill-to-allow-tax-deductions-for-forgiven-ppp-loans?utm_source=facebook&utm_content=socialflow&utm_campaign=accountingtoday-fb&utm_medium=social&fbclid=IwAR3OuV58zOIpuboDx69klB01oSiVpiRugMRjhEIEKVRHA62pM6v5d-Pvfu4

A bipartisan group of lawmakers introduced legislation Wednesday to enable small businesses to deduct their expenses even if they have received a loan from the federal government’s Paycheck Protection Protection Program that was later forgiven.

04/14/2020

The Internal Revenue Service is encouraging taxpayers to file their taxes electronically during the three-month extension period for this year’s tax season.

04/14/2020

https://www.msn.com/en-us/money/personalfinance/will-you-have-to-pay-back-your-coronavirus-aid-money/ar-BB12zAYH?ocid=msedgntp

CNBC Make It is clarifying seven myths about the coronavirus checks, from whether or not they are taxed to how long it will take for them to hit your bank account.

03/26/2020

https://www.irs.gov/coronavirus

To explain the tax relief for those affected by coronavirus.

03/23/2020

https://www.irs.gov/newsroom/treasury-irs-and-labor-announce-plan-to-implement-coronavirus-related-paid-leave-for-workers-and-tax-credits-for-small-and-midsize-businesses-to-swiftly-recover-the-cost-of-providing-coronavirus

IR-2020-57, March 20, 2020 — Today the U.S. Treasury Department, Internal Revenue Service (IRS), and the U.S. Department of Labor (Labor) announced that small and midsize employers can begin taking advantage of two new refundable payroll tax credits, designed to immediately and fully reimburse the...

03/19/2020

https://www.cpapracticeadvisor.com/accounting-audit/news/21130309/aicpa-ceo-says-irs-must-extend-tax-filing-deadline

The American Institute of CPAs’ (AICPA) president and CEO, Barry Melancon, CPA, made the following statement in response to the Treasury’s recent statement on tax payment relief:

03/16/2020

https://www.washingtonpost.com/business/2020/03/16/paid-sick-leave-coronavirus-house-bill/?fbclid=IwAR2WJWnXUF4C3RORBSf75ITfzeb5BYj7Nomax47U_Q1FbrH2KIsAnMPkS14

Most of America’s nearly 159 million workers will get access to some paid time off if they or their family are impacted by the coronavirus. Here’s a rundown of how it works.

03/09/2020

https://news.bloombergtax.com/daily-tax-report/coronavirus-could-cause-complexity-for-tax-filers-pros

Coronavirus could throw a wrench into otherwise routine tax-filing tasks, like heading to an H&R Block to sort out your tax return or going to the post office on April 15 to mail it at the last minute.