AICPA Tax Insider (February 10, 2022): A guide to dealing with today’s IRS; IRS backs away from facial recognition and More!

A guide to dealing with today’s IRS
By Larry J. Wolfe, CPA
Some practical suggestions to help practitioners in resolving taxpayers’ issues as the Service contends with overloaded phone networks and backlogs of correspondence and processing of returns and payments.

IRS backs away from facial recognition
The IRS scrapped plans to require individuals to authenticate their identities with facial-recognition technology to use certain online services after the plans prompted scrutiny, including from Congress.

AICPA calls IRS staff reassignments a ‘positive step,’ reiterates relief goals
The Service deploys an “inventory surge team” to tackle backlog while a coalition of tax professionals including the AICPA continues its call for specific relief measures.

Three paths to innocent spouse relief
By Timothy Burke, CPA, J.D., LL.M.
“Traditional” vs. equitable relief vs. an election to split or allocate a deficiency have differing eligibility factors and time limits.

Form 1099-K information returns: New rules beginning 2022
By Deborah Pflieger, J.D., Justin O’Brien, E.A., Michael Mattaliano, J.D., George Fox, J.D., Jonathan Jackel, J.D., and Saul Tilmann, J.D.
The reporting threshold for third-party network transactions, formerly $20,000 and more than 200 transactions, is now $600 for any number of transactions.

List of automatic tax method changes updated
A recent revenue procedure catalogues changes subject to general procedures of Rev. Proc. 2015-13.

Making 2022 count — advice from the AICPA chair
By Bill Pirolli, CPA, CGMA
AICPA Chair Bill Pirolli, CPA, CGMA, shared how investing in people can help firms and businesses tackle the challenges of 2022.

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

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