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LEARNING RESOURCES

Individual Tax Fundamentals —
vehicle will need to present them with two sets Tax Staff Essentials
of mileage figures for 2022 for the deduction to
Understand how to respond to the needs of new and
be computed correctly, one for miles traveled Jan.
existing clients. Add value to your tax practice with
1, 2022, through June 30, 2022, and the other for
tax-saving strategies for your individual clients.
miles traveled in the remainder of the year. That’s
because, in Announcement 2022-13, the IRS CPE SELF-STUDY
increased the rate of 58.5 cents per mile applicable
to the first half of the year by 4 cents to 62.5 cents Intermediate Individual Taxation —
per mile for the second half of the year. The same Tax Staff Essentials
goes for taxpayers claiming an itemized medical
Learn how to help your clients build and preserve
deduction that includes travel for medical care. The
wealth through insightful and creative tax planning
rate for deductible medical or moving expenses also techniques.
increased by 4 cents, from 18 cents per mile to 22
cents. The increases were only the third midyear CPE SELF-STUDY
adjustment since 2008, in response to increases in
the price of fuel, the IRS said. For more information or to make a purchase, go to aicpa.org/cpe-learning
or call the Institute at 888-777-7077.
CRYPTOASSET SCRUTINY
For 2022 returns, the IRS has again changed the
question on the draft Form 1040, U.S. Individual
Income Tax Return, and some other returns in the AICPA RESOURCES
1040 series about a taxpayer’s cryptoasset transac-
Article
tions. In 2021, the question was: “At any time
during 2021, did you receive, sell, exchange, or “How to Go Easier on Staff During Busy Season,” JofA, Oct. 2022
otherwise dispose of any financial interest in any
The Tax Adviser and Tax Section
virtual currency?” In 2022, the question is: “At any
time during 2022, did you: (a) receive (as a reward, The Tax Adviser is available at a reduced subscription price to
award, or payment for property or services); or (b) members of the Tax Section, which provides tools, technologies,
sell, exchange, gift, or otherwise dispose of a digital and peer interaction to CPAs with tax practices. More than 23,000
asset (or a financial interest in a digital asset)?” CPAs are Tax Section members. The Section keeps members up
Noting the potential confusion for taxpayers that to date on tax legislative and regulatory developments. Visit the
the 2022 version of the question could cause, the Tax Center.
AICPA has made comments and recommendations
to the IRS about simplifying and providing guid-
ance on the question.
IRS RETURN PROCESSING
IRS officials have stated they are committed to Service’s telephone assistance to taxpayers and their
being able to process returns in a timely fashion representatives. Thus, time will tell whether refunds
this season, having made preparatory efforts during are issued and error corrections are made promptly
2022, such as the broad penalty relief for failure to and tax preparers and taxpayers calling the IRS
file individual and corporate returns for the 2019 with questions will be able to get through without
and 2020 tax years granted under Notice 2022-36. spending long stretches on hold.
That relief was intended partly to allow the Service
to focus its resources on processing backlogged R&E EXPENDITURE AMORTIZATION
returns and correspondence to help return to normal One law change beginning with the 2022 tax year
operations in 2023, then-IRS Commissioner that preparers of returns for companies engaged in
Charles Rettig said. As of Nov. 2, 2022, however, research and development are likely to encounter
the IRS still had 4.2 million unprocessed individual is the amortization now required for R&E expen-
returns received during 2022. ditures. This change, which was enacted by the law
In late October 2022, the IRS said it had hired known as the Tax Cuts and Jobs Act, P.L. 115-97, in
4,000 customer service representatives and would late 2017, but with a delayed effective date, requires
hire 1,000 more before tax season to improve the taxpayers with R&E costs to amortize them over

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