IRS Pronouncements--2021--Short List

Small Business Taxes & ManagementTM--Copyright 2021, A/N Group, Inc.

Note. The list below contains a synopses of revenue rulings, revenue procedures, notices, announcements and regulations beginning with those issued January 1, 2021. Because the IRS is no longer indexing the contents of the bulletins as in the past, beginning with 2015 we have created two indicies--this one is an abbreviated list that is limited to those items we believe to be of interest to small to mid-sized business owners, their advisors, CPAs, enrolled agents, etc. Because it does not contain items of interest to insurance companies, banks, etc. the list is shorter and easier to review. For a list of all pronouncements go to IRS Pronouncements--2021. For a abbreviated, similar listing for prior years, go to:

IRS Pronouncements--2020
IRS Pronouncements--2019
IRS Pronouncements--2018
IRS Pronouncements--2017
IRS Pronouncements--2016
IRS Pronouncements--2015
IRS Pronouncements--2014
IRS Pronouncements--2013
IRS Pronouncements--2012
IRS Pronouncements--2011
IRS Pronouncements--2010
IRS Pronouncements--2009
IRS Pronouncements--2008
IRS Pronouncements--2007
IRS Pronouncements--2006
IRS Pronouncements--2005
IRS Pronouncements--2004
IRS Pronouncements--2003
IRS Pronouncements--2002
IRS Pronouncements--2001
IRS Pronouncements--2000

We've included the IRB (Internal Revenue Bulletin) reference so you can find the full text on the IRS web site. We've tried to make the list as searchable as possible while keeping the descriptions short. Use the "find-in-page" or "find" feature of your browser (CTRL-F) to search this list. Be sure to try variations of keywords such as "activities" as well as "activity"; "depreciation" as well as "depreciate". The Applicable Federal Rate and interest rates on over- and underpayments are updated on our IRS Interest Rates page.


For Revenue Rulings--
For Revenue Procedures--
For Notices--

The xx must be at least two digits. Thus, Revenue Ruling 5 for 2021 would be:   For prior years, change the 20 to the appropriate year (available years vary).

New Additions - Bulletin 48

Rev. Proc. 2021-45 (IRB 2021-48) Cost-of-living adjustments for 2022; COLA; inflation; individual tax rates; standard deduction; alternative minimum tax exemptions and phasehout; qualified transportation fringe; estate and gift taxes; penalties.

For the full text of these rulings, go to Internal Revenue Bulletin 2021-48



Cumulative Listings - 2021

Revenue Rulings

Rev. Rul. 2021-21 (IRB 2021-44) Applicable federal rates; adjusted federal long-term rate; November, 2021.
Rev. Rul. 2021-19 (IRB 2021-42) Sec. 61; fringe benefits; aircraft valuation formula; SIFL; Standard Industry Fare Level second half 2021.
Rev. Rul. 2021-18 (IRB 2021-40) Applicable federal rates; adjusted federal long-term rate; October, 2021.
Rev. Rul. 2021-17 (IRB 2021-37) Interest rates on underpayments and overpayments; quarter beginning October 1, 2021.
Rev. Rul. 2021-16 (IRB 2021-36) Applicable federal rates; adjusted federal long-term rate; September, 2021.
Rev. Rul. 2021-15 (IRB 2021-35) Sec. 2032A; estate taxes; special use value; farms; interest rates; 2021 interest rates.
Rev. Rul. 2021-14 (IRB 2021-31) Applicable federal rates; adjusted federal long-term rate; August, 2021.
Rev. Rul. 2021-12 (IRB 2021-27) Applicable federal rates; adjusted federal long-term rate; July, 2021.
Rev. Rul. 2021-11 (IRB 2021-24) Sec. 61; fringe benefits; aircraft valuation formula; SIFL; Standard Industry Fare Level first half 2021.
Rev. Rul. 2021-9 (IRB 2021-23) Applicable federal rates; adjusted federal long-term rate; June, 2021.
Rev. Rul. 2021-7 (IRB 2021-14) Applicable federal rates; adjusted federal long-term rate; April, 2021.
Rev. Rul. 2021-6 (IRB 2020-12) Interest rates on underpayments and overpayments; quarter beginning April 1, 2020.
Rev. Rul. 2021-5 (IRB 2021-10) Applicable federal rates; adjusted federal long-term rate; March, 2021.
Rev. Rul. 2021-4 (IRB 2021-6) Applicable federal rates; adjusted federal long-term rate; February, 2021.
Rev. Rul. 2021-3 (IRB 2021-5) Sec. 401; tables of covered compensation.
Rev. Rul. 2021-2 (IRB 2021-04) Deductibility of expenses paid with proceeds from a Paycheck Protection Program loan; Notice 2020-32 and Rev.a Rul. 2020-27 obsoleted.
Rev. Rul. 2021-1 (IRB 2021-02) Applicable federal rates; adjusted federal long-term rate; January, 2021.


Revenue Procedures

Rev. Proc. 2021-45 (IRB 2021-48) Cost-of-living adjustments for 2022; COLA; inflation; individual tax rates; standard deduction; alternative minimum tax exemptions and phasehout; qualified transportation fringe; estate and gift taxes; penalties.
Rev. Proc. 2021-36 (IRB 2021-35) Sec. 36B; premium tax credit; applicable percentage table; indexing adjustment for required contribution percentage; eligibility for affordable employer-sponsored minimum essential coverage.
Rev. Proc. 2021-34 (IRB 2021-35) Sec. 446; automatic consent to change methods of accounting; final regulations Secs. 1.451-3, 1.451-8 and 1.1275-2(l); Rev. Proc. 2015-13, 2015-33, 2016-1, 2017-59, and 2021-26 modified.
Rev. Proc. 2021-33 (IRB 2021-34) Exclusion of certain items from gross receipts definition; safe harbor for eligibility for employee retention credit; ERC; forgiveness of Paycheck Protection Program loan; PPP; grant under Economic Aid to Hard-Hit Small Businesses, Nonprofits, and Venues Act; restaurant revitalization grant.
Rev. Proc. 2021-31 (IRB 2021-34) Sec. 280F; limitations on depreciation for business use of autos; lease inclusion tables for passenger automobiles; includes trucks and vans.
Rev. Proc. 2021-14 (IRB 2021-30) Sec. 172; net operating loss; NOL; special rules for 2018, 2019. 2020; farming loss; CARES Act; Tax Relief Act of 2020.
Rev. Proc. 2021-24 (IRB 2021-29) Procedure for receiving child tax credit; 2020 recovery rebate credit payments; additional 2020 recovery rebate credit payments; third round economic impact payments; taxpayers not otherwise required to file 2020 federal income tax returns; simplified return; complete returns.
Rev. Proc. 2021-29 (IRB 2021-27) Alternative to administrative adjustment request; AAR; amended Form 1065.
Rev. Proc. 2021-28 (IRB 2021-27) Sec. 168; TCDTRA; 30-year recovery period; ADS; residential rental; held by electing property trade or business; Rev. Proc. 2019-8 modified; Rev. Proc. 2019-43 modified.
Rev. Proc. 2021-25 (IRB 2021-21) Sec. 223; Health Savings Accounts; HSAs; inflation adjusted amounts; health reimbursement arrangements; HRAs.
Rev. Proc. 2021-23 (IRB 2021-19) Sec. 36B; child tax credit; earned income tax credit; amount of credit revised; percentage table revised for American Rescue Plan Act; Rev. Proc. 2020-45 and Rev. Proc. 2020-36 superseded.
Rev. Proc. 2021-20 (IRB 2021-19) PPP loan; Payroll Protection Program; expenses used to justify loan not deducted on return for taxable year ending on or before December 31, 2020; safe harbor; expenses deductible on first taxable year following.
Rev. Proc. 2021-21 (IRB 2021-17) Sec. 911; foreign earned income exclusion; waiver of time requirements for individuals who must leave a foreign country because of war, civil unrest, or similae adverse conditions; Iraq added to list of waiver countries.

Rev. Proc. 2021-15 (IRB 2021-8) Sec. 62; educator's deduction; safe harbor; unreimbursed expenses paid o incurred after March 20, 2020; personal protective equipment, disinfecttant, other items to prevent spread of COVID-19.
Rev. Proc. 2021-11 (IRB 2021-6) Sec. 199A; methods for calculating W-2 wages; agricultural or horticultural cooperatives; short taxable years; Rev. Proc. 2019-11 modified.
Rev. Proc. 2021-8 (IRB 2021-4) Sec. 501; electronic submission of Form 1024-A; 90-day transition relief period; Rev. Proc. 2021-5 modified.
Rev. Proc. 2021-9 (IRB 2021-3) Sec. 163; trade or business managing a qualified residential living facility; safe harbor treatment as real property trade or business.

Rev. Proc. 2021-7 (IRB 2021-1) Areas of IRC under jurisdiction of Associate Chief Counsel (International); IRS will not issue rulings.
Rev. Proc. 2021-5 (IRB 2021-1) Procedures for issuing determination letters; issues under jurisdiction of Director, Exempt Organizations; EO; rulings and agreements; pension, profit-sharing, stock bonus, annuity, and employee stock ownership plans; private foundation status; Sec. 7428.
Rev. Proc. 2021-4 (IRB 2021-1) Revised procedures; determination letters and letter rulings issued by the Commissioner; Tax Exempt and Government Entities; Employee Plans Rulings and Agreements; Rev. Procs. 2020-4 updated.
Rev. Proc. 2021-3 (IRB 2021-1) Revised list of areas where IRS will not issue letter rulings or determination letters; Corporate; Financial Institutions and Products; Income Tax and Accounting; Passthroughs and Special Industries; Procedure and Administration; Tax Exempt and Government Entities; Associate Chief Counsel; Rev. Proc. 2020-3 superseded.
Rev. Proc. 2021-2 (IRB 2021-1) Procedures for Technical advice memoranda; TAMS; taxpayer rights when field office requests TAMS; Rev. Proc. 2020-2 superseded.
Rev. Proc. 2021-1 (IRB 2021-1) Procedures for letter rulings and information letters; Associate Chief Counsel; Corporate; Financial Institutions and Products; Income Tax and Accounting; International; Passthroughs and Special Industries; Procedure and Administration; Tax Exempt and Government Entities; Rev. Proc. 2020-1 superseded.



T.D. 9956 (IRB 2021-41) Sec. 250; 951A; qualified improvement property; qualified business asset investment; alternative depreciation system; net operating loss carrybacks.
T.D. 9953 (IRB 2021-39) Recapture of excess employment tax credits under American Rescue Plan Act of 2021; refundable sick pay and family leave and employee retention credits; collection of erroneous refunds in normal course of processing employment tax returns.
T.D. 9950 (IRB 2021-26) Sec. 165; 7508A; mandatory postponements of time to perform time-sensitive tax acts; federally declared disaster; mandatory 60-day period; either major disaster or emergency under Stafford Act.
T.D. 9947 (IRB 2021-6) Sec. 199A; 1381 through 1388; cooperatives and patrons; Sec. 199A; qualified business income; QBI; agricultural and horticultural cooperatives.
. T.D. 9946 (IRB 2021-6) Sec. 162; 6050X; TCJA; deduction of certain fines, penalties, and other amounts; information reporting.
T.D. 9945 (IRB 2021-5) Sec. 1061; rechacterization of certain net long-term capital gains of a partner; carried interest.
T.D. 9943 (IRB 2021-5) Sec. 163; limitation on the business interest expense deduction; TCJA changes and Coronavirus Aid, Relief, and Economic Security Act; limitation application to consolidated group.
T.D. 9942 (IRB 2021-3) Sec. 262A; 448; 460; 471; TCJA; simplification of application of tax accounting provisions; business with average gross receipts of $25 million or less (indexed for inflation); special accounting rules for long-term contracts
T.D. 9941 (IRB 2021-3) Sec. 451; TCJA; timing of income inclusion for accrual method taxpayers with an applicable financial statement; treatment of advance payments.
T.D. 9939 (IRB 2021-3) Sec. 274; amendments by TCJA; elimination of deduction for certain transportation and commuting benefits provided by employers; exceptions.
T.D. 9940 (IRB 2021-2) Procedures used by IRS to handle misdirected direct deposit tax refunds; procedure for taxpayers who believe direct deposit refund is missing.
T.D. 9925 (IRB 2021-2) Sec. 274; elimination of deduction for entertainment expenses paid or incurred in taxable years beginning after December 31, 2017; distinguishing entertainment expenses from meal and beverage expenses; exception to rule.


Proposed Regulations

REG-100718-21 (IRB 2021-42) Enrolled agents and enrolled retirement plan agents; user fees for special enrollment examinations; $99 per part.
REG-109077-21 (IRB 2021-39) Recapture of excess employment tax credits under American Rescue Plan Act of 2021; refundable sick pay and family leave and employee retention credits; collection of erroneous refunds in normal course of processing employment tax returns.
REG-102951-16 (IRB 2021-32) Rules for filing certain returns and statements electronically; changes made by Taxpayer First Act of 2019; earlier proposed regulations withdrawn regarding whether information returns must be filed electronically; aggregation rule.
REG-114615-16 (IRB 2021-3) New user fee for IRS Letter 627; estate tax closing letter.



Notice 2021-61 (IRB 2021-47) Sec. 415; dollar limitations on benefits and contributions under qualified retirement plans; pensions; IRAs; compensation; Roth; cost-of-living increase; inflation adjustments for 2021.
Notice 2021-56 (IRB 2021-45) Sec. 501; limited liability company; LLC; standards that must be met for determination letter recognizing tax-exempt status.
Notice 2021-58 (IRB 2021-43) Electing COBRA; extension of timeframes; EBSA Disaster Notice; elections and payments of COBRA premiums.
Notice 2021-55 (IRB 2021-41) Sec. 1033; Disposition of livestock on account of drought; extension of four-year replacement period; list of counties that experienced exceptional, extreme or severe drought; 12-month period ended August 2021.
Notice 2021-53 (IRB 2021-39) Guidance to employers; requirement to report amount of qualified sick leave wages and qualified family leave wages paid to employees under Families First Coronavirus Response Act; report amounts either on Form W-2 Box 14 or on separate statement; reporting for employees who are also self-employed to claim qualified six leave and family leave equivalent.
Notice 2021-52 (IRB 2021-38) Optional per-diem rates;for 2021-2022; business expenses while away from home; special transportation industry rates; high-low cost localities; correction of portion of year Sedona Arizona is high-cost under Notice 2020-71.
Notice 2021-43 (IRB 2021-35) Sec. 51; Work Opportunity Tax Credit; WOTC; transition relief; additional time to submit certification request to a Designated Local Agency.
Notice 2021-49 (IRB 2021-34) Sec. 3134; guidance on employee retention credit; ERC; qualified wages paid after June 30, 2021 and before January 1, 2022; miscellaneous issues; Notices 2021-20 and 2021-23 amplified.
Notice 2021-46 (IRB 2021-33) Guidance on American Rescue Plan Act of 2021; premium assistance for COBRA; various changes.
Notice 2021-42 (IRB 2021-29) Sec. 170; federal income and employment tax treatment in Notice 2020-46 extended; cash payments to charitable organizations after December 31, 2020 and before January 1, 2022; leave based donation programs.
Notice 2021-40 (IRB 2021-28) Sec. 401; extension of two types of relief from physical presence requirements for participant elections required to be witnessed.
Notice 2021-39 (IRB 2021-27) Transition penalty relief for taxable years that begin in 2021 for new Scheules K-2 and K-3 of Forms 1065 and 1120-S. Notice 2021-34 (IRB 2021-23) Sec. 45I; natural gas production from qualified marginal wells; marginal well production credit.
Notice 2021-31 (IRB 2021-23) COBRA; temporary premium assistance; loss of coverage resulting from reduction in hours or involuntary termination of employment.
Notice 2021-26 (IRB 2021-21) Dependent care benefits; benefits excluded from income in used during preceding year; 2020 and 2021; excludable 2021 and 2022; limits under Sec. 129.
Notice 2021-30 (IRB 2021-19) Sec. 613; percentage depletion on marginal properties.
Notice 2021-29 (IRB 2021-19) Sec. 43; 45; reference price; oil recovery credit: marginal well production credit; percentage depletion from marginal properties.
Notice 2021-25 (IRB 2021-17) Food and beverages provided by a restaurant; when 100-percent deduction and when 50-percent deduction continues to apply.

Notice 2021-23 (IRB 2021-16) Employee retention credit; qualified wages paid after December 31, 2020 and before July 1, 2021; Notice 2021-20 amplified.
Notice 2021-21 (IRB 2021-15) Sec. 7508A; guidance on postponement of Federal income tax filings and payments from April 15, 2021 to May 17, 2021; postponement of other forms.
Notice 2021-20 (IRB 2021-11) Employee retention credit; as amended by Taxpayer Certainty and Disaster Tax Relief Act of 2020; Paycheck Protection Program loans.
Notice 2021-18 (IRB 2021-11) Sec. 911; adjustments to limitation on housing expenses for 2021.
Notice 2021-15 (IRB 2021-10) Sec. 125; health flexible spending arrangements; FSAs; dependent care assistance program; carryover of unused portion; Taxpayer Certainty and Disaster Tax Relief Act of 2020.
Notice 2021-10 (IRB 2021-7) Sec. 7508A; 1400Z; qualified opportunity funds; QOFs; addtional relief; 180-day investment requirement; 30-month substantial improvement period; Notice 2020-39 relief extended.
Notice 2021-13 (IRB 2021-6) Relief for partnerships from certain penalties due to inclusion of incorrect information in reporting partners' beginning capital account balances on 2020 K-1.
Notice 2021-11 (IRB 2021-6) Deferral of employee's portion of Social Security taxes from September 1, 2020 to December 31, 2020; extension of date for repayment; Notice 2020-65 modified.
Notice 2021-8 (IRB 2021-6) Sec. 6654; waiver of addition to tax for underpayment of estimated tax; underpayment attributable to amendment of Sec. 461 made by CARES Act; relief not automatic.
Notice 2021-7 (IRB 2021-3) Automobile lease valuation rule for income inclusion of personal use of vehicle; temporary relief in response to pandemic to revert to cents-per-mile valuation and vice versa.
Notice 2021-2 (IRB 2021-3) Standard mileage rates for 2021; operation of motor vehicle for business, charitable, and medical or moving purposes; fixed and variable rate; FAVR; maximum fair market value for fleet-average valuation or cents-per-mile valuation rule.
Notice 2021-3 (IRB 2021-2) Sec. 401; Notice 2020-42; 6-month extension physical presence test for participant elections required to be witnessed by plan representative.
Notice 2021-1 (IRB 2021-2) Private foundations; electronic filing of Form 4720; private foundations may no longer rely on Reg. Sec. 53.6011-1(c).



Announcement 2021-9 (IRB 2021-20) Notification that no articles were submitted for publication in IRB 2021-20.
Announcement 2021-7 (IRB 2021-15) Sec.213; Amounts paid for personal protective equipment (PPE) deductible as medical expense; reimbursable under health flexible spending arrangements and health reimbursement arrangements.
Announcement 2021-4 (IRB 2021-9) Notification that no articles were submitted for publication in IRB 2021-9.

Action On Decision

Action on Decision 2021-2 (IRB 2021-21) Nonacquiescence; Machacek, 906 F.3d 429.


       Links to Individual Bulletins

Internal Revenue Bulletin 2021-1        Internal Revenue Bulletin 2021-27
Internal Revenue Bulletin 2021-2        Internal Revenue Bulletin 2021-28
Internal Revenue Bulletin 2021-3        Internal Revenue Bulletin 2021-29
Internal Revenue Bulletin 2021-4        Internal Revenue Bulletin 2021-30
Internal Revenue Bulletin 2021-5        Internal Revenue Bulletin 2021-31
Internal Revenue Bulletin 2021-6        Internal Revenue Bulletin 2021-32
Internal Revenue Bulletin 2021-7        Internal Revenue Bulletin 2021-33
Internal Revenue Bulletin 2021-8        Internal Revenue Bulletin 2021-34
Internal Revenue Bulletin 2021-9        Internal Revenue Bulletin 2021-35
Internal Revenue Bulletin 2021-10      Internal Revenue Bulletin 2021-36
Internal Revenue Bulletin 2021-11      Internal Revenue Bulletin 2021-37
Internal Revenue Bulletin 2021-12      Internal Revenue Bulletin 2021-38
Internal Revenue Bulletin 2021-13      Internal Revenue Bulletin 2021-39
Internal Revenue Bulletin 2021-14      Internal Revenue Bulletin 2021-40
Internal Revenue Bulletin 2021-15      Internal Revenue Bulletin 2021-41
Internal Revenue Bulletin 2021-16      Internal Revenue Bulletin 2021-42
Internal Revenue Bulletin 2021-17      Internal Revenue Bulletin 2021-43
Internal Revenue Bulletin 2021-18      Internal Revenue Bulletin 2021-44
Internal Revenue Bulletin 2021-19      Internal Revenue Bulletin 2021-45
Internal Revenue Bulletin 2021-20      Internal Revenue Bulletin 2021-46
Internal Revenue Bulletin 2021-21      Internal Revenue Bulletin 2021-47
Internal Revenue Bulletin 2021-22      Internal Revenue Bulletin 2021-48
Internal Revenue Bulletin 2021-23
Internal Revenue Bulletin 2021-24
Internal Revenue Bulletin 2021-25
Internal Revenue Bulletin 2021-26


Copyright 2021 by A/N Group, Inc. This publication is designed to provide accurate and authoritative information in regard to the subject matter covered. It is distributed with the understanding that the publisher is not engaged in rendering legal, accounting, or other professional service. If legal advice or other expert assistance is required, the services of a competent professional should be sought. The information is not necessarily a complete summary of all materials on the subject. Copyright is not claimed on material from U.S. Government sources--ISSN 1089-1536

Return to Home Page

--Last Update 11/30/21