September 28, 2021

Volume XI, Number 271

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September 27, 2021

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Weekly IRS Roundup July 19 – July 23, 2021

Presented below is our summary of significant Internal Revenue Service (IRS) guidance and relevant tax matters for the week of July 19, 2021 – July 23, 2021. Additionally, for continuing updates on the tax impact of COVID-19, please visit our resource page.

July 19, 2021: The IRS issued a news release announcing an enhancement to its online account systems, specifically that tax professionals and taxpayers may now initiate and execute a Power of Attorney or Tax Information Authorization online in lieu of using Forms 2848 and 8821, respectively.

July 20, 2021: The IRS issued a news release urging tax professionals to use multi-factor authentication technology to protect taxpayers’ information from identity and data theft.

July 21, 2021: The IRS issued proposed regulations expanding electronic filing requirements with respect to various business tax returns and statements, pursuant to the Taxpayer First Act of 2019 provisions and related legislation.

July 21, 2021: The IRS issued a news release announcing that, in partnership with local civic organizations, events will be held in several cities across the country on July 23 – 24, 2021, to assist eligible families in registering for advance payments of the Child Tax Credit.

July 21, 2021: The IRS issued a news release announcing the disbursement of more than 2.2 million Economic Impact Payments worth more than $4 billion, bringing the total amount of disbursements under the American Rescue Plan Act of 2021 to more than 171 million payments worth more than $400 billion.

July 23, 2021: The IRS released its weekly list of written determinations (e.g., Private Letter Rulings, Technical Advice Memorandums and Chief Counsel Advice).

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

© 2021 McDermott Will & EmeryNational Law Review, Volume XI, Number 207
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About this Author

Associate

Le Chen focuses his practice on US and international tax matters.

While in law school, Le served as executive notes development editor for The Tax Lawyer and was a semifinalist in the 2016 Thomas Tang National Moot Competition. In addition to participating in the Georgetown Law Appellate Courts Immersion Clinic, he interned at the US Department of Justice, Tax Division, and served as a pro bono law clerk for the AARP Legal Counsel for the Elderly.

From 2014 to 2015, Le was a research scientist at the New Jersey Department of the Treasury, Office of the...

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