The year 2021 has been a tumultuous one for tax professionals, with continuing pandemic-related developments as well as new legislation, regulations, court decisions and IRS pronouncements. While the major developments are familiar to most, there are some that might have been missed due to the busy nature of the profession during the past year.
Below are some of the more important legislation, court decisions, IRS regulations and more for the year, as selected by David De Jong, CPA, a partner with the Rockville, Maryland, law firm of Stein Sperling Bennett De Jong Driscoll.
De Jong offers just two two caveats: The year is not yet over, and the most important development for a preparer is one that directly affects their particular client.