Top five reminders when filing income tax returns in 2022

Issue Number:​ 2022-03

Inside This Issue

  1. Top five reminders when filing income tax returns in 2022
  2. IRS Chief Counsel looking for 200 experienced attorneys to focus on abusive tax deals; job openings posted
  3. Wage statement deadline for employers is Jan. 31
  4. A Closer Look: Flexible options evolve from challenging times
  5. News from the Justice Department’s Tax Division
  6. Technical Guidance

1.​ ​ Top five reminders when filing income tax returns in 2022


Tax pros: With filing season beginning Monday, Jan. 24, the IRS has shared key items to keep in mind when filing federal income tax returns. Given the unique challenges for this tax season, the IRS offers a 5-point checklist that can help speed tax return processing and refund delivery while avoiding delays. This article is also available in Spanish and Simplified Chinese.

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2.​ ​ IRS Chief Counsel looking for 200 experienced attorneys to focus on abusive tax deals; job openings posted


The IRS’s Office of Chief Counsel plans to hire up to 200 additional attorneys to help the agency combat syndicated conservation easements, abusive micro-captive insurance arrangements and other tax schemes. These positions will be available around the country, and the IRS encourages qualified candidates to apply.

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3.​ ​ Wage statement deadline for employers is Jan. 31


Employers must file copies of their Form W-2 and Form W-3 with the Social Security Administration by Jan. 31. Filing these documents timely helps employers avoid penalties and helps the IRS in fraud prevention. This article is also available in Spanish and Simplified Chinese.

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4.​ ​ A Closer Look: Flexible options evolve from challenging times


In this issue of A Closer Look, Harrison Smith, co-director, IRS Enterprise Digitalization and Case Management Office, discusses how the immediate need to minimize in-person contact to protect taxpayers and employees led the IRS to take steps toward increasing digital interactions. This feature is also available in Spanish.

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5.​ ​ News from the Justice Department’s Tax Division


A federal court in the Eastern District of Michigan has permanently barred Detroit-area tax return preparer, Jennifer Sherman, and her business, Sherman Management Co. Inc., from preparing federal tax returns for others.

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6.​ ​ Technical Guidance


Notice 2022-06 updates the life expectancy and mortality tables used to determine substantially equal periodic payments under the methods set forth in Rev. Rul. 2002-62 and provides a 5% floor on the maximum interest rates that may be used to calculate annuity payments under the fixed amortization and annuitization methods.

Notice 2022-07 sets forth updates on the corporate bond monthly yield curve, the corresponding spot segment rates for January 2022 used under section 417(e)(3)(D), the 24-month average segment rates applicable for January 2022, and the 30-year Treasury rates, as reflected by the application of section 430(h)(2)(C)(iv).

Revenue Procedure 2022-10 establishes an 18-month pilot program that provides an opportunity for fast-track processing of certain private letter ruling requests solely or primarily under the jurisdiction of the Associate Chief Counsel (Corporate).

Revenue Procedure 2022-13 modifies and supersedes Notice 2002-5. It provides information about when and how the IRS will issue a Notice of Employment Tax Determination Under IRC section 7436 (section 7436 Notice) and how taxpayers petition for Tax Court review of the determinations under IRC section 7436.

Revenue Ruling 2022-03 provides various prescribed rates for federal income tax purposes including the applicable federal interest rates, the adjusted applicable federal interest rates, the adjusted federal long-term rate, and the adjusted federal long-term tax-exempt rate. These rates are determined as prescribed by section 1274.

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