Tax & Current Accounting Topics

United States, Malta sign a competent authority arrangement (CAA) confirming pension fund meaning 

https://www.irs.gov/newsroom/united-s...

 https://accountinginstruction.info/

The competent authorities of the United States and Malta signed a competent authority arrangement (CAA) confirming their understanding of the meaning of pension fund for purposes of the United States–Malta income tax treaty (Treaty).

For Illinois and Tennessee tornado victims, IRS extends 2021 tax-filing deadline, other deadlines to May 16 

https://www.irs.gov/newsroom/for-illi... 

https://accountinginstruction.info/

Victims of this month's tornadoes in parts of Illinois and Tennessee will have until May 16, 2022, to file various individual and business tax returns and make tax payments, the Internal Revenue Service announced today.

Man calling in sick for Omicron Joke

IRS issues standard mileage rates for 2022 

https://www.irs.gov/newsroom/irs-issu

https://accountinginstruction.info/

The Internal Revenue Service today issued the 2022 optional standard mileage rates used to calculate the deductible costs of operating an automobile for business, charitable, medical or moving purposes.

IRS makes Tax Exempt Organization Search primary source to get exempt organization data 

https://www.irs.gov/newsroom/irs-make...

 https://accountinginstruction.info/

The Internal Revenue Service announced today that the publicly available data it provides on electronically filed Forms 990 in a machine-readable format will be available solely on the Tax Exempt Organization Search webpage.

Families will soon receive their December advance Child Tax Credit payment; those not receiving payments may claim any missed payments on the upcoming 2021 tax return 

https://www.irs.gov/newsroom/families... 

https://accountinginstruction.info/

For Kentucky tornado victims, IRS extends 2021 tax-filing deadline, other deadlines to May 16 

https://www.irs.gov/newsroom/for-kent... 

https://accountinginstruction.info/

Victims of this weekend's tornadoes in Kentucky will have until May 16, 2022, to file various individual and business tax returns and make tax payments, the Internal Revenue Service announced today.

IRS joins leading nonprofit groups to highlight special charitable tax benefit available through Dec. 31 

https://www.irs.gov/newsroom/irs-join... 

https://accountinginstruction.info/

Special rule helps most people get a deduction of up to $300 per individual, $600 for couples for gifts to charity; National Council of Nonprofits and Independent Sector highlight how donations can help the nation's charitable community IR-2021-247, December 13, 2021

IRS Tax Tip Tax benefits of making a business accessible to workers and customers with disabilities 

https://www.irs.gov/newsroom/tax-bene... 

https://accountinginstruction.info/

Businesses that make structural adaptations or other accommodations for employees or customers with disabilities may be eligible for tax credits and deductions.

Most retirees must take required minimum distributions by Dec. 31 

https://www.irs.gov/newsroom/most-ret... 

https://accountinginstruction.info/

The Internal Revenue Service today reminded retirement plan participants and individual retirement account owners that payments, called required minimum distributions, must usually be taken by December 31.