CPE Events & Free Resources to Help You Navigate COVID-19 Relief. Find what you need here >

RP 2020-36: Examination of returns and claims for refund, credit, or abatement; determination of correct tax liability

July 22, 2020 IRS Newsroom Tax

RP 2020-36 provides indexing adjustments required by statute for certain provisions under section 36B. Specifically, this revenue procedure updates the applicable percentage table used to calculate an individual’s premium tax credit for taxable years beginning in calendar year 2021 and updates the required contribution percentage for plan years beginning after calendar year 2020.

It will appear in IRB 2020-32 dated Aug. 3, 2020.

Recent ASCPA News