Feb 17
IRS News & Updates for February 2022
These are some of the key IRS and tax news and updates for February 2022.
last updated March 3, 2022
February 9, 2022
Candace J. Dixon
Read my post: IRS News & Updates for 2nd Half of February 2022 (February 14–28)
February 1, 2022
The IRS updated 2021 Child Tax Credit and Advance Child Tax Credit Payments Frequently Asked Questions in FS-2022–07 and a News Release.
Tax Time Guide: Important considerations before filing a 2021 tax return was published with resources and information to help during tax season.
February 2, 2022
The IRS updated Recovery Rebate Credit Frequently Asked Questions including a revised answer on tracing payments in FS-2022–08 and a News Release.
A news release reminded people about free IRS programs available to help prepare and file returns. Volunteer Income Tax Assistance is for those who earn $58,000 or less, have disabilities or speak limited English. Tax Counseling for the Elderly is for age 60 or older and specializes in pensions and retirement-related issues for seniors. Use the VITA Locator Tool to find the nearest VITA or TCE site.
An advance of Rev. Proc. 2022–14: List of Automatic Changes was released.
A U.S. Tax Court press release announced that over 750 new features were added to DAWSON, their case-management system, since December 28, 2020.
February 3, 2022
A news release reminded people to watch for IRS impersonation scams including text message, e-mail and phone scams and unemployment fraud.
February 4, 2022
A news release announced Saturday hours of 9 a.m. to 4 p.m. on February 12, March 12, April 9 and May 14 at some Taxpayer Assistance Centers (TACs) to help people with their taxes in person.
Employee Plans e-news: Remove Excess Salary Deferrals by April 15, 2022.
The limit for total salary deferrals made by participants to retirement plans is $19,500, plus an additional $6,500 if age 50 or older, for 2021. Excess deferral amounts plus earnings must be removed by April 15, 2022.
Justia’s Tax Law Weekly Opinion Summaries for February 4, 2022:
February 7, 2022
Internal Revenue Bulletin: 2022–6 highlights:
- Rev. Rul. 2022–3: February Applicable Federal Rates
- Notice 2022–7: January Interest Rates, Yield Curves, Segment Rates
- Rev. Proc. 2022–10: 18-month fast-track program for Associate Chief Counsel letter ruling requests
- Rev. Proc. 2022–13: Tax Court review of determinations under section 7436
The IRS announced in a news release that it will transition away from using a third-party service for facial recognition when authenticating people creating new online accounts.
IRS Operations During COVID-19 update:
As of February 2, the IRS had 1.5 million unprocessed 941s, and some of the 444,000 unprocessed 941-X’s can’t be processed until the 941’s are done.
February 8, 2022
The IRS updated 2021 Recovery Rebate Credit Questions and Answers in FS-2022–09 and a news release.
Tax Time Guide: American Rescue Plan changes can boost refunds for many families; people should file even if they haven’t for years
This Tax Time Guide was released along with Fact Sheet 2022–10 below to explain why people should file 2021 tax returns this year to take advantage of tax benefits in the American Rescue Plan and other legislation.
IRS: Expanded credits for families highlight tax changes for 2021; many people who don’t normally file should file this year
Fact Sheet 2022–10 explains why people who don’t usually have to file tax returns should file this year and goes over the American Rescue Plan changes affecting 2021 federal tax returns including expanded tax credits for families, deductions for non-itemizers and a higher limit for itemizers who give to charity.
February 9, 2022
Low Income Taxpayer Clinics represented nearly 20,000 taxpayers dealing with an IRS tax controversy
The IRS Low Income Taxpayer Clinic (LITC) Program office announced highlights from its 2021 annual report in a news release.
A news release announced that the IRS will stop mailing over a dozen letters, including notices where people are credited for payments but the IRS has no record of their returns being filed. See the January 27, 2022 IRS Statement: Providing meaningful assistance to taxpayers in the current environment
February 11, 2022
Filing Season Statistics for Week Ending February 04, 2022 were published on the IRS website. 2021 Filing Season began February 12, 2021, and the 2022 Filing Season began on January 24, 2022. This year so far over four million refunds have already been delivered as of February 4, 2022.
