Internal Revenue Service tips and relevant tax information

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Below is our summary of important Internal Revenue Service (IRS) guidance and relevant tax matters for the week of April 3, 2022 through April 9, 2022.

April 4, 2022: The IRS issued a press release announcing that the application period for 2023 grants under the Low Income Taxpayer Clinic (LITC) program, an IRS program created to help organizations provide pro bono representation to low income individuals income and English as a Second Language (ESL) taxpayers in federal tax disputes, will begin on or about May 2, 2022.

April 4, 2022: The IRS has issued a press release, announcing that, prior to the federal tax filing deadline, free face-to-face tax preparation assistance will be provided at Taxpayer Assistance Centers in across the country on April 9, 2022.

April 5, 2022: The IRS has issued draft regulations changing the eligibility criteria for the premium tax credit under Section 36B of the Code. The Proposed Regulations generally provide that for the purposes of determining eligibility for the premium tax credit, the affordability of an employer-sponsored health insurance plan for family members of an employee is determined based on the cost of coverage for the employee and their family members, rather than the cost of individual coverage for the employee.

April 6, 2022: The IRS has issued a press release, reminding taxpayers making estimated tax payments that the due date for the first estimated tax payment is April 18, 2022.

April 8, 2022: The IRS publishes its weekly list of written rulings (eg, Private Letter Rulings, Technical Advice Memorandums, and Chief Counsel Advice).

© 2022 McDermott Will & EmeryNational Law Review, Volume XII, Number 101

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