Click the links below for the latest updates and resources from the FICPA, AICPA and IRS.
- Advocacy Update: Special Session to convene next week (April 18, 2022)
- FICPA thanks Congressmen who are urging the IRS to grant additional taxpayer relief (March 28, 2022)
- Advocacy Update: FICPA urges Sens. Rubio, Scott to sign letter to IRS (March 11, 2022)
- Advocacy Update: FICPA calls for expanded K-2 / K-3 relief (Feb. 25, 2022)
- Advocacy Update: IRS to issue K-2/K-3 filing relief for 2021 (Feb. 16, 2022)
- Advocacy Update: Call to action leads to IRS relief (Feb. 11, 2022)
- Advocacy Update: IRS suspends automatic collection notices (Feb. 10, 2022)
- FICPA calls on lawmakers to support IRS tax filing relief (Jan. 27, 2022)
- AICPA Town Hall Archive
- Schedules K-2 and K-3 guidance and resources (available to everyone): Access resources to advise clients on Schedules K-2 and K-3, which are used to report items of international tax relevance from the operations of pass-through entities.
- Schedules K-2 and K-3 Client Information Letter (available to AICPA members): Notify your clients about the new reporting forms and advise them to contact you with questions.
- Schedules K-2 and K-3 e-file capability postponed for S corporations (April 28, 2022)
- Journal of Accountancy: More Schedule K-2 and K-3 FAQs posted (April 13, 2022)
From the IRS
Special Filing Season Alerts
April 29 - 2022 filing season update
The IRS continues to process tax returns and deliver refunds a rapid pace for the current filing season. As of the week ending April 22, the IRS has issued more than 88 million refunds worth over $267 billion. The average refund is $3,012.
April 4 - Temporary update to U.S. residency certification application process
The IRS is temporarily changing its procedures for Form 8802, application for U.S. residency certification, for a two-year period. More information can be found at Temporary change in policy with respect to applications for U.S. residency certifications for a two-year period.
April 1 - 2022 filing season update
The IRS continues to process tax returns and deliver refunds at a rapid pace for the current filing season. As of the week ending March 25, the IRS has issued almost 58 million refunds worth nearly $189 billion. The average refund is $3,263.
March 25 - 2022 filing season update
The IRS is processing tax returns and delivering refunds. As of the week ending March 18, the IRS has issued more than 52 million refunds worth more than $171 billion. The average refund is $3,305.
March 22 - Electronically filed return rejected for a missing Form 8962
Tax year 2021 electronically filed tax returns will be rejected if the taxpayer is required to reconcile advance payments of the premium tax credit on Form 8962, Premium Tax Credit, but does not attach the form to the tax return. See How to correct an electronically filed return rejected for a missing Form 8962 for more information.
March 18 - 2022 filing season update
The IRS is processing tax returns and delivering refunds. As of the ending March 11, the IRS has issued more than 45 million refunds worth almost $152 billion. The average refund is $3,352.
March 15 - IRS alert for some farming and fishing businesses
The IRS is aware of a third-party software issue affecting qualifying farmers and fishermen attempting to electronically file Forms 7203. Due to these challenges, the Treasury Department and the IRS issued Notice 2022-33 PDF, providing penalty relief for qualifying farmers and fishermen filing Forms 7203 if they electronically file their 2021 tax return and pay in full any tax due by April 18, 2022, or by April 19, 2022, for those qualifying farmers and fishermen who live in Maine or Massachusetts. Farmers and fishermen who filed their returns by the March 1 deadline are unaffected by this, as explained in this news release.
March 10 - IRS unveils voice and chat bots
The IRS unveils voice and chat bots to assist taxpayers with simple collection questions and tasks, providing faster service and cutting wait time. The IRS has deployed voice and chat bots in English and Spanish for phone lines that assist taxpayers with tax payments issues or understanding an IRS notice they may have received. The bots are now available and can help taxpayers with: How to make One-Time Payments; Answers to Frequently Asked Questions; and Collection Notice Clarification. Bots that can handle more complex chores are coming later this year. Learn more by consulting the news release.
February 16 - IRS provides details on relief for Schedule K-2 and K-3 reporting
The IRS issued a news release and new frequently asked questions (FAQs) providing both general information and more details on the certain domestic partnerships and S corporations who qualify for the exception to 2021 reporting.
February 15 - Coming relief from certain Schedule K-2 and K-3 reporting
The IRS intends to provide certain additional transition relief for this year from the Schedule K-2 and K-3 reporting for certain domestic partnerships and S corporations with no foreign activities, foreign partners or shareholders, and without knowledge of partner or shareholder need for information on items of international relevance. For 2021, these qualifying domestic partnerships and S corporations will not have to file the new schedules. We are taking this step in response to feedback we received from the tax community and our stakeholders. The IRS will provide full details of this relief soon.
February 14 - IRS suspends more than a dozen automated notices, including collection issues
As part of ongoing efforts to provide additional help for people during this period, the IRS has suspended automated collection notices normally issued when a taxpayer owes additional tax or has no record of filing a tax return. Note that many other IRS notices are statutorily required to be issued within a certain timeframe to be legally valid. The IRS encourages those who have a filing requirement and have yet to file a prior year tax return or to pay any tax due to promptly do so as interest and penalties will continue to accrue. Visit IRS.gov for payment options. For more information on suspended notices, see IR-2022-31, IRS continues work to help taxpayers; suspends mailing of additional letters.
- IRS accepting applications for VITA and TCE Grants in May (April 29, 2022)
- IRS revises Tax Year 2021/Filing Season 2022 frequently asked questions for the Child Tax Credit (April 27, 2022)
- May 16 is filing deadline for many tax-exempt organizations (April 21, 2022)
- Taxpayers who owe and missed the April 18 filing deadline should file now to limit penalties and interest; not too late to claim the Child Tax Credit for 2021 (April 19, 2022)
- 2022 IRS Nationwide Tax Forum begins July 19 (April 19, 2022)
- IRS Notices CP2100 and 2100A to help payers correct backup withholding errors will go out in April 2022 (April 15, 2022)
- IRS revises further Frequently Asked Questions and Answers for 2021 Recovery Rebate Credit (April 13, 2022)
- IRS revises further Frequently Asked Questions and Answers for 2020 Recovery Rebate Credit (April 13, 2022)
- 2021 return done? Next step: use the IRS Tax Withholding Estimator to make sure withholding is right for 2022 (April 13, 2022)
- IRS dispels new and common myths about tax refunds; key information available to help people (April 12, 2022)
- IRS letters going out to taxpayers who may need to take action related to Qualified Opportunity Funds (April 12, 2022)
- Identity stolen? Request an Identity Protection PIN from the IRS (April 11, 2022)
- For those who make estimated federal tax payments, the first quarter deadline is Monday, April 18 (April 6, 2022)
- Coming soon: 2023 Low Income Taxpayer Clinic grant application period (April 4, 2022)
- Special Saturday help from IRS available without an appointment on April 9 (April 4, 2022)
- Taxpayer Advocacy Panel welcomes 25 new members; calls for new volunteers to apply by April 8 to help shape future of IRS, improve taxpayer rights (April 1, 2022)
- IRS reminds holders of foreign bank and financial accounts of April FBAR deadline (March 31, 2022)
- Letters about third-round of Economic Impact Payments issued; important steps to take for missing payments and corrections (March 30, 2022)
- Get an automatic six more months to file; all taxpayers can use IRS Free File to request an extension (March 29, 2022)
- For the first time, maximum educator expense deduction rises to $300 in 2022; limit $250 for those filing 2021 tax returns (March 29, 2022)
- IRS reminder to many retirees: April 1 is last day to start taking money out of IRAs and 401(k)s (March 25, 2022)
- IRS finalizes frequently asked questions for payment by Indian tribal governments and Alaska native corporations to individuals (March 25, 2022)
- IRS provides revised frequently asked questions on Third-round Economic Impact Payment (March 25, 2022)
- IRS has $1.5 billion in refunds for people who have not filed a 2018 federal income tax return; April deadline approaches (March 25, 2022)
- Reasons why some tax refunds filed electronically take longer than 21 days (March 23, 2022)
- IRS revises frequently asked questions on 2020 unemployment compensation exclusion (March 23, 2022)
- Easy steps to avoid tax return errors that can delay processing or adjust refunds (March 22, 2022)
- IRS reminds taxpayers they must check a box on Form 1040, 1040-SR or 1040-NR on virtual currency transactions for 2021 (March 18, 2022)
- Tax Time Guide: Minimize cyber footprints, protect personal information online (March 16, 2022)
- IRS update regarding recent electronic filing challenges in connection with Form 7203, S Corporation Shareholder Stock and Debt Basis Limitations (March 15, 2022)
- IRS provides more forms, letters and publications in multilingual and alternative formats: Spanish Braille now available (March 15, 2022)
- IRS unveils voice and chat bots to assist taxpayers with simple collection questions and tasks; provides faster service, reduced wait times (March 10, 2022)
- IRS hiring more than 5,000 positions in Austin, Kansas City, Ogden (March 10, 2022)
- IRS highlights importance of Child and Dependent Care Credit; can help families, others (March 8, 2022)
- IRS revised 2021 Child Tax Credit and Advance Child Tax Credit Payments frequently asked questions (March 8, 2022)
- Tax Time Guide: Saving for retirement? IRA contributions for 2021 can be made until April 18 (March 8, 2022)
- Taxpayer Experience Office formally established to improve service across the IRS (March 4, 2022)
- IRS update regarding recent electronic filing challenges in connection with Form 7203, S Corporation Shareholder Stock and Debt Basis Limitations (March 3, 2022)
- IRS updates frequently asked questions on Tax Credits for Paid Leave Under the Families First Coronavirus Response Act for Leave Prior to April 1, 2021 (March 3, 2022)
- IRS updates frequently asked questions for Tax Credits for Paid Leave Under the American Rescue Plan Act of 2021 for Leave After March 31, 2021 (March 3, 2022)
- IRS issues FAQs for Tax Year 2021 Earned Income Tax Credit (March 2, 2022)
- Tax Time Guide: IRS reminds taxpayers to report gig economy income, virtual currency transactions, foreign source income and assets (March 1, 2022)
- IRS updates FAQs for the Premium Tax Credit (Feb. 24, 2022)
- Tax Time Guide: Use the Where’s My Refund? tool or IRS2Go app to conveniently check tax refund status (Feb. 24, 2022)
- Interest rates increase for the second quarter of 2022 (Feb. 23, 2022)
- IRS provides additional updates to Frequently Asked Questions and Answers for 2021 Recovery Rebate Credit (Feb. 17, 2022)
- IRS reminds those with farming, fishing businesses of March 1 tax deadline (Feb. 17, 2022)
- IRS provides further details on additional relief for certain partnerships preparing schedules K-2 and K-3 for 2021 (Feb. 16, 2022)
- IRS announces an update to the Form 14457, Voluntary Disclosure Practice Preclearance Request and Application (Feb. 15, 2022)
- IRS updates FAQs for Higher Education Emergency Grants (Feb. 15, 2022)
- IRS launches resource page on IRS.gov with latest details and information for taxpayers during filing season (Feb. 15, 2022)
- IRS continues work to help taxpayers; suspends mailing of additional letters (Feb. 9, 2022)
- Tax Time Guide: American Rescue Plan changes can boost refunds for many families; people should file even if they haven’t for years (Feb. 8, 2022)
- IRS updates Frequently Asked Questions and Answers for 2021 Recovery Rebate Credit (Feb. 8, 2022)
- IRS Taxpayer Assistance Centers open on special Saturdays for face-to-face help (Feb. 4, 2022)
- IRS warning: Scammers work year-round; stay vigilant (Feb. 3, 2022)
- IRS provides revised answer for 2020 Recovery Rebate Credit on tracing payments (Feb. 2, 2022)
- Tax Time Guide: Important considerations before filing a 2021 tax return (Feb. 1, 2022)
- IRS revises FAQs for 2021 Child Tax Credit and Advance Child Tax Credit Payments (Feb. 1, 2022)
- IRS issues 2021 Filing Season frequently asked questions, information to help taxpayers preparing their 2021 returns (Jan. 31, 2022)
- IRS Statement — Providing meaningful assistance to taxpayers in the current environment (Jan. 27, 2022)
- All third Economic Impact Payments issued; parents of children born in 2021, guardians and other eligible people who did not receive all of their third-round EIPs can claim up to $1,400 per person through the 2021 Recovery Rebate Credit (Jan. 26, 2022)
- IRS begins 2022 tax season; urges extra caution for taxpayers to file accurate tax returns electronically to speed refunds, avoid delays (Jan. 24, 2022)
- Top 5 things to remember when filing income tax returns in 2022 (Jan. 20, 2022)
- January 31 wage statement deadline reminder for employers (Jan. 19, 2022)
- Frequently Asked Questions and Answers for 2021 Recovery Rebate Credit (Jan. 13, 2022)
- National Taxpayer Advocate delivers Annual Report to Congress; focuses on taxpayer impact of processing and refund delays (Jan. 12, 2022)
- IRS Updates FAQs for 2021 Child Tax Credit and Advance Child Tax Credit Payments (Jan. 11, 2022)
- 2022 tax filing season begins Jan. 24; IRS outlines refund timing and what to expect in advance of April 18 tax deadline (Jan. 10, 2022)
- IRS Updates FAQs for 2020 Recovery Rebate Credit (Jan. 7, 2022)
- IRS 2021 Progress Update details challenging year (Jan. 7, 2022)
- IRS Operations During COVID-19: Mission-critical functions continue
- News Release and Fact Sheet Archive
General Information for the 2022 Tax Season
April 18 tax deadline: The filing deadline is April 18 for most taxpayers. There are currently no plans to extend the filing deadline. For those who need more time to file, an automatic six-month extension of time to file is available for anyone by filing Form 4868, Application for Automatic Extension of Time to File U.S. Individual Income Tax Return. The Around the Nation section on IRS.gov provides information about recent tax relief including postponing certain tax-filing and tax-payment deadlines for taxpayers who reside or have a business in the disaster area.
Advance Child Tax Credit payments: People who received advance Child Tax Credit payments in 2021 need to ensure the amounts they've received are entered correctly on the 2021 tax return. Incorrect entries when reporting these payments mean the IRS will need to further review the tax return, creating an extensive delay. People can check the amount of their payments in their Online Account available on IRS.gov. The IRS also mailed letters to recipients about the advance Child Tax Credit payment amount. However, a limited group of taxpayers may receive a letter with the incorrect amount listed. More information about who might have received an incorrect letter can be found on our IRS Statement — Child Tax Credit Letters page.
Recovery Rebate Credit (also called stimulus payments or Economic Impact Payments): All third-round Economic Impact Payments have been issued. People may claim any remaining stimulus payment they're entitled to on their 2021 tax return as part of the 2021 Recovery Rebate Credit. People who are filing to get any remaining payment should ensure the amounts they've received are entered correctly on the tax return. Incorrect entries when reporting these payments mean the IRS will need to further review the tax return, creating an extensive delay. The IRS is mailing letters to payment recipients about the stimulus payments amounts they received. People can also check the amount of their payments in their Online Account available on IRS.gov.
Filing if your 2020 tax return is still being processed: For people whose tax returns from 2020 have not yet been processed, they should still file their 2021 tax returns. Those filing electronically in this group need their Adjusted Gross Income, or AGI, from their most recent tax return when they file electronically. For those waiting on their 2020 tax return to be processed, make sure to enter $0 (zero dollars) for last year's AGI on the 2021 tax return. Visit Validating Your Electronically Filed Tax Return for more details.
Status of IRS tax return inventory from prior years: COVID-19 continues to cause delays in the processing of some prior year tax returns and amended returns. Please visit our IRS Operations During COVID-19: Mission-critical functions continue page to find out the current status of the IRS inventory from prior years.
Form 1099-INT: Taxpayers should report interest from unemployment refunds, other IRS payments as 2021 income. The IRS reminded taxpayers who received an interest payment for a tax-related issue in 2021 need to report it as income on their tax return.
Under the law, interest income is taxable, and that includes payments from the IRS. During 2021, several groups of people could fall into this category. This includes people who received interest payments related to IRS refunds of taxes paid on unemployment income or people who received interest on a tax refund. Normally, the IRS is required to pay interest on a refund if the refund is issued after a statutory 45-day period.
The IRS is sending a Form 1099-INT to anyone who receives interest totaling at least $10. The IRS reminds people to watch their mail for Forms 1099, not just from the IRS and other payers. Due to IRS mailing issues and other factors, taxpayers may continue to see these arrive in the mail through February.