Jan 26, 2022
The IRS is now accepting and processing 2021 tax returns — a
signal that the official start of the busy tax filing season is
here. While it’s a new year, this tax season has similar vibes as
the past two years but with some new obstacles as well.
On this Tax Section Odyssey episode, April Walker, CPA, CGMA,
Lead Manager – AICPA Tax Section sits down with Daniel Moore, CPA,
Owner — D.T. Moore & Company, LLC, to discuss issues tax
practitioners may encounter this season, as well as provide some
real-world relatable examples and tips for a successful tax
What you’ll learn in this episode
- Reporting Paycheck Protection Program (PPP) loan forgiveness
and S Corporations (4.15)
- Advance child tax credits and Letter 6419 (7.42)
- Economic impact payments and Letter 6475 (13.19)
- IRS service level issues and a real-life example (14.50)
- Unprocessed 2020 returns and overpayment application tips for
2021 filings (20.42)
- How to make cryptocurrency reporting as easy as possible
- Schedules K-2 and K-3 for passthrough entities (28.05)
- Tax return extensions (30.37)
- Dan’s tax firm traditions (33.54)
- A page from Dan’s travel journey (35.19)
2021 Paid Preparer’s Due Diligence Checklist – Form 8867 — A
comprehensive tool to use when preparing Form 8867 that is
associated with claiming the earned income tax credit, American
opportunity tax credit, child tax credit (including the additional
child tax credit), the credit for other dependents and
head-of-household filing status.
AICPA Relief for Taxpayers for the 2022 Filing Season — The
AICPA led a coalition of stakeholders to urge action from the IRS
to mitigate anticipated challenges in the upcoming tax season. The
coalition also requested a meeting with IRS officials to discuss
their concerns and recommendations and directly address any
Annual Tax Compliance Kit — This toolkit includes engagement
letters, organizers, checklists and practice guides to help you
manage your tax season workflow and excel as an adviser of tax and
financial planning services.
AICPA Town Hall Series— Bi-monthly, high-impact news broadcast
series that delivers the latest news, analysis, insights and
practical guidance to accounting and finance professionals and
responds to pressing issues facing the profession.
- ENGAGE 22 Conference
— Gain exclusive insights, develop practical skills, and network
with your unique professional community online or in person over 4
energizing days June 6-9, 2022, in Las Vegas, Nevada.
IRS E-Services Transcript Delivery System Quick Reference Chart
— This handy, one-page, quick reference chart is geared to help
practitioners obtain and effectively use transcript data via this
e-Services tool. It offers practical tips for how to use TDS and
answers questions such as “Who may use TDS?”.
IRS third-party authorization guidance — This guidance provides
a summary of the most common types of IRS authorizations and what
each authorization permits the representative to do. Learn how to
record authorizations with the Centralized Authorization File (CAF)
unit, how to withdraw an authorization and other practice tips to
help practitioners represent clients before the IRS.
- Tax season
hub — With constant changes to the tax landscape, being
prepared for tax season is critical for success. Set yourself up
for a smoother filing season by tapping into the wealth of AICPA
and Tax Section resources.
The 2022 Winter Tax Rewind — In this Jan. 31, 2022, installment
of the quarterly Tax Rewind series, Art Auerbach, CPA, CGMA
provides an update on tax planning, legislative changes and the
latest in IRS tax practice and procedures so you can proficiently
advise your clients.
Using IRS e-Services — An AICPA hub centered around
IRS e-Services, a
suite of web-based tools that allow eligible tax professionals to
perform certain transactions online.
Keep your finger on the pulse of the dynamic and evolving
tax landscape with insights from tax thought leaders in the AICPA
Tax Section. The Tax Section Odyssey
podcast includes a digest of tax developments,
trending issues and practice management tips that you need to be
aware of to elevate your professional development and your firm
This resource is part of the robust tax resource library
available from the AICPA Tax Section. The Tax Section is your go-to home
base for staying up to date on the latest tax
developments and providing the edge you need for upskilling your
professional development. If you’re not already a member, consider
joining this prestigious community of your tax peers. You’ll get
free CPE, access to rich technical content such as our Annual Tax
Compliance Kit, a weekly member newsletter and a digital
subscription to The Tax Adviser.