September 17, 2021

Volume XI, Number 260

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September 16, 2021

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September 15, 2021

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September 14, 2021

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Weekly IRS Roundup January 25 – January 29, 2021

Presented below is our summary of significant Internal Revenue Service (IRS) guidance and relevant tax matters for the week of January 25, 2021 – January 29, 2021. Additionally, for continuing updates on the tax impact of COVID-19, please visit our resource page here.

On January 20, President Biden’s chief of staff, Ronald Klain, issued a memorandum freezing the publication of rules in the Federal Register pending additional review by presidential designees or appointees. As a result, there may be delays in the official publication of pending IRS actions.

January 29, 2021: The IRS released its weekly list of written determinations (e.g., Private Letter Rulings, Technical Advice Memorandums and Chief Counsel Advice).

January 29, 2021: The IRS released Internal Revenue Bulletin 2021-5, dated February 1, 2021, containing the following highlights: REG-115057-20 (Administrative); Notice 2021-9 (Employee Plans); Rev. Rul. 2021-3 (Employee Plans); REG-111950-20 (Income Tax); Rev. Proc. 2021-12 (Income Tax); TD 9936 (Income Tax); TD 9943 (Income Tax); TD 9945 (Income Tax).

Special thanks to Brian Moore in our Washington, DC, office for this week’s roundup.

© 2021 McDermott Will & EmeryNational Law Review, Volume XI, Number 33
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About this Author

In 1934 E.H. McDermott opened a law practice that focused exclusively on taxes. As chief counsel to the Joint Committee on Taxation of the United States Congress, McDermott observed firsthand how the rapidly expanding federal tax laws were affecting businesses and individuals. He recognized the need for a law firm to assist people and their businesses to understand and comply with their changing tax obligations.

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