AICPA Tax Insider (June 17, 2021): Top tax cases practitioners should know; Online sign-up now available for advance child tax credit payments; and More!

Top tax cases practitioners should know
By Paul Bonner
A session at AICPA & CIMA ENGAGE 2021 shows how bedrock tax cases can help practitioners understand and resolve common issues that arise in practice.

Online sign-up now available for advance child tax credit payments
The IRS opened an online site that allows taxpayers who are not required to file a 2019 or 2020 individual income tax return to sign up to receive advance child tax credit (advance CTC) payments, which will begin July 15.

IRS posts ARPA credit FAQs
The IRS has posted two sets of FAQs that explain changes to the child and dependent care credit and to the sick and family leave credits made by the American Rescue Plan Act.

A conversation on future-proofing CPA firms
By Amy V. Hollander, CPA; Brandon Lagarde, CPA, J.D., LL.M.; Daniel T. Moore, CPA; Ami Oppe, CPA, CGMA; Johanna Sweaney Salt, CPA, CGMA; Jeffrey D. Solomon, CPA; and Chris Wittich, CPA
Several members of the AICPA Tax Practice Management Committee share lessons learned and best tips regarding how practitioners can future-proof their tax practices, in a conversation focusing on technology.

Regs. on postponing tax deadlines due to federally declared disasters
New IRS final regulations clarify when a federally declared disaster will lead to mandatory 60-day postponement of certain tax-related deadlines.

Minority interest discounts apply to charitable bequests
By Matthew T. Schippers, CPA, J.D., LL.M.
The Tax Court partially upheld gift and estate tax deficiencies involving real estate LLC interests held by a family trust and includible in a decedent’s estate.

Posted by Jessica Ji, Associate Editor, Wealth Strategies Journal.

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