Tax Update Resources

Susan B. Anders, PhD, CPA/CGMA

The 2021 tax season began with a late start date for processing 2020 returns. As the IRS was still attempting to complete work on 2019 filings, portions of the United States were experiencing weather disasters with power and Internet outages, and of course … more new tax law changes reflecting the continuing impact of the coronavirus (COVID-19) pandemic that began in 2020. As CPAs have come to expect, in late December, Congress rolled out the Consolidated Appropriations Act (CAA) of 2021, which contains several tax provisions, including some that leverage the Corona-virus Aid, Relief, and Economic Security (CARES) Act from 2020. Although tax professionals have their “usual sources” of tax updates, given the late-breaking nature of much of the technical information, this issue's column looks at some resources that CPAs may not be aware of.