The Internal Revenue Service (IRS) recently released a set of frequently asked questions (FAQs) regarding the tax consequences for recipients of Coronavirus State and Local Fiscal Recovery Funds (SLFR Funds). The FAQs also address employers’ reporting requirements pertaining to SLFR Funds. In this article, Washington D.C. tax lawyer Kevin E. Thorn, Managing Partner of Thorn Law Group, covers some of the highlights:

Each year, the Internal Revenue Service’s Criminal Investigation Division (IRS CI) releases a report highlighting its achievements over the past 12 months. IRS CI recently released its FY 2021 Annual Report; and, as usual, the report spotlights many of the division’s top enforcement priorities. As these priorities typically carry over into the following year, understanding where IRS CI focused its enforcement efforts in 2021 will be instructive for U.S. taxpayers seeking to avoid unwanted scrutiny in 2022. Washington D.C. tax attorney Kevin E. Thorn, Managing Partner of Thorn Law Group, explains.