This week we look at:

• IRS relents to pressure, releases guidance on state payment programs’ taxability (generally it’s good news)

• IRS begins offering direct deposit for Form 1040-X electronic filers - but it will still take a long time to process

• No substantive §174 guidance likely before initial tax deadlines (March & April)

• Form 4868 didn’t qualify as informal claim for refund

An audio only version of this week’s update can be streamed or downloaded below:

A copy of the slides with links to source materials can be downloaded below:

2023-02-13 Current Federal Tax Developments