Here you'll find items of current interest — new programs, recent guidance or timely reminders. Tax updates and news from the IRS The Tax updates and news from the IRS page is designed to help anyone whether they are now preparing their tax return or are awaiting processing of a return or refund and the latest updates on IRS letters, or notices. Newer updates will be placed at the top of that page; the IRS will also provide critical updates through social media. Scam alert for taxpayers The IRS warns taxpayers not to fall for scams centered around the Fuel Tax Credit, the Sick and Family Leave Credit and Household Employment taxes. The agency has received thousands of dubious claims where it appears taxpayers are claiming credits for which they are not eligible, leading to refunds being delayed and the need for taxpayers to show they have legitimate documentation to support these claims. Taxpayers who filed these claims mistakenly and are not eligible need to follow steps to verify their eligibility for the claim. Many of these scams were highlighted during this spring’s annual Dirty Dozen series. Check the status of your refund Taxpayers can track their refund easily and conveniently with the IRS Where's my refund? tool at IRS.gov/refunds and with the IRS2Go app. Refund status is available within 24 hours of the IRS letting the taxpayer know that they got the e-filed return. The tool also gives the taxpayer a personalized refund date after the IRS processes the return and approves the refund. Low Income Taxpayer Clinic matching grants application open The application period for Low Income Taxpayer Clinic matching grants from all qualified organizations runs from April 22, 2024, to June 12, 2024. The funding and the period of performance for the grant will be Jan. 1, 2025, to Dec. 31, 2025. New Inflation Reduction Act credit guidance Final regulations for the transfer of eligible credits in a taxable year, including specific rules for partnerships and S corporations is now available. The final regulations also describe special rules related to excessive credit transfers and recapture events, including rules for determining whether an event has occurred, the resulting tax impact and the person responsible for that tax impact. Disaster relief frequently asked questions The issued frequently asked questions relating to rules for distributions from retirement plans and IRAs and for retirement plan loans, for certain individuals impacted by federally declared major disasters. The FAQs relate to the SECURE 2.0 Act of 2022 (SECURE 2.0) provision that provides for ongoing disaster relief for certain distributions and loans in the case of federally declared major disasters. Prior to the changes made by SECURE 2.0, there was no disaster relief allowing these distributions and loans that applied generally for all major disasters.
