July 2021 Tax News Update - Seminar Registration
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July 2021
Tax News Update
(click for past editions)
• Thomas G. Zoeller (1955 – 2021)
• Form 990-EZ Paper Filers May Receive an Erroneous Notice
• Two New Online Tools for Child Tax Credit Payments
• IRS Issues Draft Form 941
• IRS Issues - Q&A
• Speaking Engagements
• 2021 Virtual Education – Live-Stream Seminars
• July Applicable Federal Rates
• 2021 Seminar Dates and Locations
• The Tax Book – Promo Code 544
With great sadness, we announce the loss of our colleague and friend. Tom
Zoeller, age 66, passed on June 19, 2021, after an 11-month battle with
cancer. Tom loved his career, enjoyed shooting, kickboxing, earning his
third-degree black belt in karate, dancing socially and competitively,
motorcycle riding, traveling, spending time with his friends, and spending
time at his second home in Scottsdale Arizona.
God has been so very generous to me, and I have had an unbelievable life. I did not plan on
leaving this precious world this early but, I enjoyed, and appreciated the time I had, thank you
God.
- Thomas G. Zoeller, EA, CFP, MST, PhD
Form 990-EZ Paper Filers May Receive an Erroneous Notice
In its newsletter for exempt organizations, IRS has announced problems that it is having
processing paper returns, including the fact the taxpayers that file paper Form 990-EZ (Short
Form Return of Organization Exempt from Income Tax) may receive an erroneous notice of non-
filing from IRS.
IRS has announced that it is experiencing delays in processing paper returns, including Form
990-EZ and Form 8868 (Application for Extension of Time To File an Exempt Organization
Return).
As noted above, paper filers of Form 990-EZ may receive an erroneous notice of non-filing from
IRS. That notice will be CP259A, which is entitled "You didn’t file a required annual tax return."
Filers of Form 8868 on paper may experience a delay in receiving a CP211A notice confirming
approval of their extension request.
Taxpayers who filed their return or extension request on paper do not need to take any further
action. They should not file a second return or contact IRS about the status of their filing.
Two New Online Tools for Child Tax Credit Payments
IRS has unveiled the Child Tax Credit Eligibility Assistant which allows families to answer a
series of questions to determine whether they qualify for the advance payments.
IRS emphasized that because the Child Tax Credit Eligibility Assistant requests no personalized
information, it is not a registration tool, but merely an eligibility tool. Nevertheless, it can still be
used to determine whether taxpayers should take the next step and either file an income tax
return or register using the Non-filer Sign-up Tool.
IRS has also unveiled the Child Tax Credit Update Portal which allows families to verify their
eligibility for the payments and if they choose to, unenroll, or opt out from receiving the monthly
payments.
Using the portal to opt out. Instead of receiving these advance payments, some families may
prefer to wait until the end of the year and receive the entire credit as a refund when they file
their 2021 return. The Child Tax Credit Update Portal now enables these families to unenroll
from receiving monthly payments.
The unenroll feature can also be helpful to any family that no longer qualifies for the Child Tax
Credit or believes they will not qualify when they file their 2021 return. This could happen if, for
example:
- Their income in 2021 is too high to qualify them for the credit.
- Someone else (an ex-spouse or another family member) qualifies to claim their child or
children as dependents in 2021.
Accessing the Update Portal. To access the Child Tax Credit Update Portal, a person must first
verify their identity. If a person has an existing IRS username or an ID.me account with a
verified identity, they can use those accounts to easily sign in. People without an existing
account will be asked to verify their identity with a form of photo identification using ID.me, a
trusted third party for the IRS. Identity verification is an important safeguard and will protect
your account from identity theft.
Anyone who lacks internet access or otherwise cannot use the online tool may unenroll by
contacting the IRS at the phone number included in your outreach letter.
Planned future enhancements of the portal. Future versions of the tool planned in the summer
and fall will allow people to:
- View their payment history;
- Check the status of their payments;
- In late June, update their bank account information for payments starting in August;
- In early August, update their mailing address;
- In future updates planned for this summer and fall, do things like updating family status
and changes in income.
IRS Issues Draft Form 941
Due to the COVID-19 pandemic, legislation has been signed into law that has provided multiple
employment-related credits and other tax relief to employers. As a result, the IRS has issued
drafts for Form 941 (Employer's Quarterly Federal Tax Return) and its instructions, and Form
941 (Allocation Schedule for Aggregate Form 941 Filers) for quarters ending after 3/31/21 to
reflect significant changes in the reporting of employment tax credits.
The revised form is available at www.irs.gov/pub/irs-dft/f941--dft.pdf . The draft instructions
to Form 941 state not to use an earlier version of Form 941 to report taxes for 2021. Also, don't
use the March 2021 revision of Form 941 to report taxes for any quarter ending before 1/1/21 or
beginning after 3/31/21. Don't use the June 2021 version of Form 941 to report taxes for any
quarter ending before 4/1/21.
IRS Issues - Q&A
Authorizations
Issue: Practitioners are still experiencing delays with authorizations posting to the CAF.
Practitioners report that uploading electronic POAs is super easy, and you get email notification
of receipt. Practitioner asks does uploading POA’s result in faster posting?
Response: If you submit forms 2848 and 8821-online you will receive a confirmation email
verifying submission. IRS processes the forms in the order received, no matter how they are
submitted (mail, fax, online). In July practitioners will have a 4th way to submit an authorization
by electronic submission of 2848s thru the new TaxPro account. If you missed the Online
Account webinar that highlighted the features of the TaxPro account, it will be archived in a few
weeks to https://www.irsvideos.gov/.
Letter 6416
Issue: Practitioner recognized this letter on a transcript and inquired what it meant.
Practitioners state this is an example of something IRS could have posted before the letters
started going out.
Response: Taxpayers eligible for Advanced CTC payments will receive Letter 6416 in June
2021 informing them of their estimated child tax credit for the tax year 2021, and the amounts of
estimated payments for Advanced CTC.
• Letter 6416, Advance Child Tax Credit Outreach Letter - initial potentially eligible letter,
points taxpayers to www.irs.gov/childtaxcredit2021
• Letter 6417, Advance Child Tax Credit Payment Letter - provides estimated advance
CTC payment. www.irs.gov/childtaxcredit2021 (FAQ references this letter)
IPPIN Can Only be Used Once
Issue: Practitioner reports that an IRS Assistor stated that the IPPIN can only be used once in the
current year and any other returns filed in the current tax year must be filed by paper. This is a
concern because their taxpayer has delinquent returns to file in the current year. Practitioner
states they tried e-filing 2018 today with the IPPIN that was issued for the 2018 tax year and the
return was rejected.
Response: The IRS IP PIN is a 6-digit number assigned to eligible taxpayers to help prevent the
misuse of their Social Security number on fraudulent federal income tax returns. A new IP PIN
will be generated each year. If we assigned you an IP PIN, you must use it to confirm your
identity on any return filed during the current calendar year. This includes current year returns as
well as any delinquent tax returns. https://www.irs.gov/identity-theft-fraud-scams/frequently-
asked-questions-about-the-identity-protection-personal-identification-number-ip-pin#q1
IPPIN and 1040X
Issue: Tax Professional reports an Identity Personal Protection Identification Number (IPPIN)
was used on taxpayer’s original return. However, when they electronically filed a 1040X, the
1040X rejected when filing with the IPPIN and without the IPPIN. The tax professional wants to
know why they can’t file the 1040X electronically with the IPPIN (or without)?
Response: Per IPPIN Frequently Asked Questions , FAQ #18 asks, Should I include my IP PIN
on Forms such as the 1040-X, Amended Return, Form 4868, Automatic Filing Extension, or
when I file my state tax return? The answer is No. The IP PIN is only used on federal tax Forms
1040, 1040-SR, 1040-NR and 1040-PR/SS.
A prior IMRS response on this issue says that the IRS stated there were no current plans to place
an IPPIN on the Form 1040X. To be a properly reported amended return, the return must contain
information that reflects the original return filed. If a thief files an amended return for a taxpayer,
the information will not match.
Will elevate to find out if a taxpayer who has an IPPIN must file an amended return by paper.
Speaking Engagements
If your professional group is looking for outside speakers for an upcoming event – we can help.
For additional information, please email jhockenberry@dbcllc.com.2021 Virtual Education – Live-Stream Seminars
Due to the ever-changing business environment and the ongoing COVID-19 concerns, we will
continue to offer both the live classroom seminars and our live-stream options. For those who
cannot make it (or do not wish to attend the live seminar) you can “live-stream” our seminars on
your computer.
Live Stream Q&A
Can I switch? Yes. Changing from classroom to live-streaming is allowed. However, you must
call our office to let us know that you are making the change. In addition, we need your email
address so we can send you the zoom webinar link.
Can I get the book? Yes. And, if you register at least four weeks prior to the webinar it’s
FREE. The advance notice will give us time to notify the printer and to ship the book(s) at a
lower cost for BTB, all at no additional cost to you. If you want to the book and you register less
than four weeks before the scheduled webinar date, we will change $10 for shipping and
handling. For those who want to go paperless, you can have the materials in the form of a pdf.
file. It’s your option.
What email should I use? You decide – just be consistent. For example, if you register with
your work email address and try to log into the webinar with your personal email address then
we may have a problem matching the two for CE credit. It is important that you log into the
zoom meeting with either the same email address or name you used for the webinar registration.
The name and email address that you should use was included with the confirmation under the
Live-Stream Link button.
Live -Stream seminar schedule: (8:25AM – 4:35 PM – CST)
Business Issues Update and Review
Oct. 4, Oct. 18
Part I Update and Review
Oct. 5, Oct. 19, and Dec. 16
Part II Update and Review
Dec. 8, Dec. 10, an Dec. 17
To register for the Live-Streaming webinars, please call our office at 877-461-2922, or click here
to register online.
Note: For Certified Financial Planners (CFPs), the live classroom seminars (in-person) qualify
for CPF continuing education credits. However, the on-line webinars are not approved for CFP
CE credits.July Applicable Federal Rates
Annual Semiannual Quarterly Monthly
Short-term (≤ 3 years) 0.12% 0.12% 0.12% 0.12%
Mid-term (> 3 years but ≤ 9 years) 1.00% 1.00% 1.00% 1.00%
Long-term (> 9 years) 2.07% 2.06% 2.05% 2.05%
Rev. Rul. 2021-12
Seminar Notes
A few changes to our seminars for 2021. Please keep in mind that some of the changes are due
to hotel availability.
State Updates - All Part II participants will have the ability to view the Wisconsin and
Arizona state updates for FREE. All Part II Federal seminars will be the same at each
location and we will send you a link to view the state update(s), on your computer.
Note: The state updates will only be available online, and they are not available for CE
credits.
To include other states, we are also looking for tax professionals to write and record
additional state tax law update webinars. We have Wisconsin and Arizona covered, but we
would like to add updates for other states. If you, or someone you know, would like to
participate, please let us know which state you would like to teach and send us an email with
your contact information to btbtax@dbcllc.com.
Milwaukee (North) – This location has been eliminated this year. Please register for the
Brookfield or Milwaukee – Airport location for classroom seminars in the Milwaukee area;
or register for the live-stream webinar option.
Arizona Seminars – In an effort to reduce travel expenses, our Arizona seminars will be
limited to the month of November.
2021 Seminar Dates and Locations
Please note that we have moved to several different locations for the 2021 seminars. Note that
each location has a link to Google maps.
Click on the date in the right column to go directly to online registration. Click on the double
asterisks (**) to select the live-stream event. Click on the address for Google Maps link.
For Printed Individual Registration Form, please Click Here.
For Printed Group Registration Form, Click Here.WISCONSIN Location Seminar Date Superior Barkers Island Inn 300 Marina Drive Part I Update & Review Nov. 29 Superior, WI 54880 Part II Update & Review Nov. 30 Eau Claire Holiday Inn Business Issues Update & Review Sept. 20 4751 Owen Ayres Ct. Part I Update & Review Sept. 21 Eau Claire, WI 54701 Part II Update & Review Dec. 1 Wausau Area Holiday Inn Business Issues Update & Review Sept. 22 1000 Imperial Ave. Part I Update & Review Sept. 23 Rothschild, WI 54474 Part II Update & Review Dec. 15 La Crosse Area Stoney Creek Hotel 3060 S. Kinney Coulee Rd. Part I Update & Review Dec. 2 Onalaska, WI 54650 Part II Update & Review Dec. 3 Janesville Holiday Inn Express 3100 Wellington Place Part I Update & Review Sept. 29 Janesville, WI 53546 Part II Update & Review Dec. 13 Madison Double Tree by Hilton* Business Issues Update & Review Sept. 27 4402 E. Washington Ave. Part I Update & Review Sept. 28 Madison, WI 53704 Part II Update & Review Dec. 14 Green Bay Radisson Hotel Business Issues Update & Review Oct. 4 ** 2040 Airport Drive Part I Update & Review Oct. 5 ** Green Bay, WI 54313 Part II Update & Review Dec. 17 ** Oshkosh Hilton Garden Inn Business Issues Update & Review Sept. 14 1355 W. 20th Ave. Part I Update & Review Sept. 15 Oshkosh, WI 54902 Part II Update & Review Dec. 10 ** Racine Delta Hotels by Marriott Business Issues Update & Review Oct. 20 7111 Washington Ave. Part I Update & Review Oct. 21 Racine, WI 53406 Part II Update & Review Dec. 6 Milwaukee – Airport
Four Points Sheraton*
5311 S. Howell Ave. Part I Update & Review Sept. 13
Milwaukee, WI 53207 Part II Update & Review Dec. 7
Brookfield
Brookfield Conference Ctr.* Business Issues Update & Review Oct. 18 **
325 S. Moorland Road Part I Update & Review Oct. 19 **
Brookfield, WI 53005 Part II Update & Review Dec. 8 **
Live Stream – Online
Business Issues Update & Review Oct. 4, 18
Part I Update & Review Oct. 5, 19
Part I Update & Review Dec. 16
Part II Update & Review Dec. 8, 10, 17
ARIZONA
Location Seminar Date
Flagstaff
Double Tree by Hilton
1175 W. Route 66 Part I Update & Review Nov. 1
Flagstaff, AZ 86001 Part II Update & Review Nov. 2
Mesa
Double Tree by Hilton* Business Issues Update & Review Nov. 5
1101 W. Holmes Ave. Part I Update & Review Nov. 11
Mesa, AZ 85210 Part II Update & Review Nov. 12
Tucson
Double Tree by Hilton
445 S. Alvernon Way Part I Update & Review Nov. 8
Tucson, AZ 85711 Part II Update & Review Nov. 9
Phoenix – North
Sheraton Phoenix Crescent Business Issues Update & Review Nov. 3
2620 W. Dunlap Ave. Part I Update & Review Nov. 4
Phoenix, AZ 85021 Part II Update & Review Nov. 10
*New Location
** Available online Live-Stream Webinar (Part I will also Live-Stream on Thur. Dec. 16)The Tax Book – Promo Code: 544
Use Promo Code 544 for additional discounts and take advantage of The Tax Book's award
winning tax research solutions. Click here to download order form.
$50 Referral Bonus
Refer a new attendee to a Back to Basics Income Tax Full Day Seminar and receive a $50 referral
fee. Upon receipt of the new attendee registration(s), BTB Income Tax Seminars will mail you a
check of $50 for each new attendee. Click Here to get a copy of the referral coupon.
(NOTE: Not good with any other special offers or discounts)
Back to Basics Income Tax Seminars® is registered with the National Association
of State Boards of Accountancy (NASBA) as a sponsor of continuing professional
education on the National Registry of CPE Sponsors. State boards of accountancy
have final authority on the acceptance of individual courses for CPE credit.
Complaints regarding registered sponsors may be submitted to the National
Registry of CPE Sponsors through its website: www.nasbaregistry.org.
Sponsor ID # 108520You can also read
