IRS Commissioner John Koskinen in a letter to Senate Finance Committee Chairman Ron Wyden (D, OR) regarding the expired tax extenders:
To avoid . . . serious problems, I respectfully urge you and other Members of Congress to address this issue expeditiously…. it would be detrimental to the entire 2015 tax filing season and to millions of taxpayers if Congress fails to provide clear policy direction before the end of November.
We’ve stumbled upon a situation that might create confusion for businesses that qualified for the 5-year carryback of General Credits under a provision of the Small Business Jobs Act of 2010.
I received a call on October 11 (just a couple weeks ago) from an Arizona restaurant owner who was a little confused by conflicting information about the carryback provision for the Work Opportunity Tax Credit. (more…)
Additional answers to Frequently Asked Questions (FAQs) about the HIRE Act’s 2010 Payroll Tax Exemption (PTE) have been published on the IRS website. Of particular interest should be the expanded FAQs about how to claim the PTE, including a new code on the form W-2 for employees whose wages are claimed under the program (see FAQ#25).
Oh, what the hey. I’ll just copy a load of them here for your convenience. (more…)