There are a couple tax bills that have been in the works in 2021 that may have a large effect on taxpayers in upcoming years. The two bills that will enact changes are: The Bipartisan Infrastructure Bill (Infrastructure Investment and Jobs Act), signed into law by President
Many people receive IRS notices in the mail, which can be frustrating when trying to resolve the issue since “snail mail” takes forever. Also, let’s not mention the hours spent on hold when trying to discuss the matter with an agent over the phone. Trying to resolve the tax issue
The IRS issued final regulation on bonus depreciation under IRC Sec. 168(k) on September 16, 2019. This was a follow up to their previously issued proposed regulation released in August 2018. The final regulation clarified that qualified improvement property placed in service after 2017 is no longer eligible for bonus