The Internal Revenue Service has released an early draft of the instructions to Form 1065, U.S. Return for Partnership Income for tax year 2020 (filing season 2021). The changes include revised instructions for partnerships that are required to report capital accounts to partners on Schedule K-1 (Form 1065).… Read more about New 1065 Instructions Unveiled (Feed generated with FetchRSS) – Story provided by TaxingSubjects.com…

This week has been set aside by the Internal Revenue Service and charitable organizations across the globe to highlight their annual International Charity Fraud Awareness Week (ICFAW).… Read more about IRS Event to Fight Charity Fraud (Feed generated with FetchRSS) – Story provided by TaxingSubjects.com…

Taxpayers dealing with the fallout from wildfires in California and Hurricane Delta in Louisiana yesterday received some good news from the Internal Revenue Service. Following the Federal Emergency Management Agency’s disaster declarations for affected areas, the IRS is giving victims additional time to meet certain filing and payment deadlines.… Read more about Tax Relief for Wildfire and Hurricane Victims (Feed generated with FetchRSS) – Story provided by TaxingSubjects.com…

The Internal Revenue Service Return Preparer’s Office is reminding tax professionals about the PTIN renewal deadline and Annual Filing Season Program perks. According to the Friday IRS newsletter, the RPO is set to send two separate messages: one to all current PTIN holders, and another to all non-credentialed PTIN holders.… Read more about IRS Reminds Tax Pros about PTIN renewal and AFSP Opportunities (Feed generated with FetchRSS) – Story provided by TaxingSubjects.com…

The Internal Revenue Service says its Affordable Care Act Information Returns system—also known as AIR—will be unavailable over the weekend while maintenance is carried out.… Read more about AIR System to go Down for Maintenance, IRS Says (Feed generated with FetchRSS) – Story provided by TaxingSubjects.com…

The Treasury Department last week announced that the Small Business Administration is making it easier to request Paycheck Protection Program (PPP) loan forgiveness for loans that are $50,000 or less.… Read more about Treasury Says SBA Has Simpler Forgiveness Application for Certain PPP Loans (Feed generated with FetchRSS) – Story provided by TaxingSubjects.com…