by admin | Apr 6, 2021 | Tax
The decision by the IRS to extend the initial filing due date of individual tax returns to May 17 was mostly a good thing. Maybe not as good a thing as the extension to July 15 in 2020, but it was something. There was a wrinkle though. Unlike in 2020 the due date...
by admin | Apr 3, 2021 | Tax
We can hope when the plague is over that IRS will not worry too much about who was actually entitled to a qualifying child so they can fight crime somewhere else. But it is too much to hope for. I foresee the Tax Court being clogged with stimulus related qualifying...
by admin | Mar 28, 2021 | Tax
One of the things about being a CPA is that you are rarely the smartest guy in the room. If you are working at anything above an elementary level there will be people who would be better accountants than you are. Fortunately they got good guidance in high school or...
by admin | Mar 25, 2021 | Tax
Another decision in the struggle between not-for-profit sponsors and limited partners in “Year 15” of affordable housing deals came out last month. This one was SunAmerica Housing Fund 1050 v Pathway of Pontiac Inc, by Judge Arthur Tarnow of the US...
by admin | Mar 23, 2021 | Uncategorized
Every once in the while the IRS comes out with something that may cause beleaguered tax preparers to breathe a sigh of relief. This just in, which is short enough to reproduce in full. IRS Statement – American Rescue Plan Act of 2021 The IRS is reviewing...
