Current Federal Tax Developments

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2020-08-24 The Week of the Two Letters

This week we look at:

  • Qualified plan loan offset amount proposed regulations issued to deal with TCJA plan loan rollover provision

  • US Chamber of Commerce and other organizations issue letter describing issues with payroll tax holiday Presidential memo

  • IRS warns employees to wait to file Forms 941-X on second quarter 2020 941s until new form released in late September

  • Chair of Ways & Means asks to IRS to pause sending notices that may relate to unopened payments and IRS complies two days later

  • IRS begins accepting 2019 amended individual returns electronically

  • Payments of interest on 2019 tax refunds are being paid out to taxpayers

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

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2020-08-24 The Week of the Two Letters Ed Zollars, CPA (Kaplan Financial Education)

Articles for this week’s session can be downloaded as a PDF below:

2020-08-24 The Week of the Two Letters