We've seen many important developments in tax and agricultural law this month. Check out the posts and articles in this month's CALT Brief for detailed information.
We are also offering a number of webinars this summer to keep you informed and help you meet your CPE requirements. Our first one, offered
Thursday, June 11, at 12:00 pm, is An Update on Key COVID-19 Legislation for Tax Professionals. We will review the new rules provided by the June 5 Paycheck Protection Program Flexibility Act of 2020, including related forgiveness guidance. We will also detail the latest IRS guidance on the ERC, Families First Coronavirus Response Act credits, payroll tax deferral, net operating loss changes and how they impact your clients, economic impact payment considerations, and new retirement plan tax considerations. It's not too late to
register!
We have heard a common refrain that many clients are waiting for refunds from returns filed in March. The status says only, "return still processing."
Our stakeholder liaison, Karen Brehmer, has provided this information as we patiently wait:IRS employees are starting to come back to work at some of the campuses. But they have a huge backlog of work. We presume they will work cases “first in, first out.” That means a return filed in March should get worked before a return filed in June.
