Treasury, IRS release final and proposed regulations on new 100% depreciation

IR-2019-156, September 13, 2019 — The Treasury Department and the Internal Revenue Service today released final regulations and additional proposed regulations under section 168(k) of the Internal Revenue Code on the new 100% additional first year depreciation deduction that allows businesses to write off most depreciable business assets in the year they are placed in service by the business.

Tax Withholding Estimator helps retirees; figures tax on Social Security benefits

IR-2019-155, September 13, 2019 — The new Tax Withholding Estimator, launched last month on IRS.gov, includes user-friendly features designed to help retirees quickly and easily figure the right amount of tax to be taken out of their pension payments.

IRS expanding the Compliance Assurance Process for 2020, accepting new corporate applicants

IR-2019-154, September 12, 2019 — The Internal Revenue Service announced today the opening of the application period for the 2020 Compliance Assurance Process program.

IRS announces leadership appointments in the Small Business/Self-Employed Division; Harris, Guillot join Hylton in key enforcement positions

IR-2019-153, September 11, 2019 — The Internal Revenue Service today announced that Darren Guillot has been selected as the Deputy Commissioner for Collection and Operations Support in the Small Business/Self-Employed Division (SB/SE) and De Lon Harris has been selected as the Deputy Commissioner for Examination.

Third quarter estimated tax payment due Sept. 16

IR-2019-152, September 9, 2019 – With major tax reform now in its second year and taxpayers seeing its full effect on 2018 returns, the Internal Revenue Service today reminded people who pay estimated tax that their third quarter payment for 2019 is due Monday, Sept. 16.

IRS announces new procedures to enable certain expatriated individuals a way to come into compliance with their U.S. tax and filing obligations

IR-2019-151, September 6, 2019 —  The IRS today announced new procedures that will enable certain individuals who relinquished their U.S. citizenship to come into compliance with their U.S. tax and filing obligations and receive relief for back taxes.

Treasury and IRS issue proposed regulations and provide relief for certain tax-exempt organizations

IR-2019-150, September 6, 2019 — The Internal Revenue Service today issued proposed regulations clarifying the reporting requirements generally applicable to tax-exempt organizations. 

New IRS Tax Withholding Estimator helps workers with self-employment income

IR-2019-149, September 4, 2019 — The IRS said today that the new Tax Withholding Estimator tool includes a feature designed to make it easier for employees who also receive self-employment income to accurately estimate the right amount of tax to have taken out of their pay.

IRS announces waiver of dyed fuel penalty in Florida due to Hurricane Dorian

IR-2019-148, August 30, 2019 —To minimize or prevent disruptions to the supply of fuel for diesel-powered highway vehicles because of Hurricane Dorian, the Internal Revenue Service announced today it will not impose a penalty when dyed diesel fuel is sold for use or used on the highway in the State of Florida.

As Hurricane Dorian gains strength, IRS encourages preparation for natural disaster

IR-2019-147, August 29, 2019 — As Dorian threatens and with the peak of hurricane season just ahead, the Internal Revenue Service reminds everyone to develop an emergency preparedness plan.

Interest rates remain the same for the fourth quarter of 2019

IR-2019-146, August 28, 2019 — The Internal Revenue Service today announced that interest rates will remain the same for the calendar quarter beginning October 1, 2019, as they were in the prior quarter. 

Security Summit warns of new IRS impersonation email scam; reminds taxpayers the IRS does not send unsolicited emails

IR-2019-145, August 22, 2019 — The IRS and its Security Summit partners today warned taxpayers and tax professionals about a new IRS impersonation scam campaign spreading nationally on email.

IRS automatically waives estimated tax penalty for eligible 2018 tax filers

IR-2019-144, August 14, 2019 — The Internal Revenue Service is automatically waiving the estimated tax penalty for the more than 400,000 eligible taxpayers who already filed their 2018 federal income tax returns but did not claim the waiver.

Tax Security 2.0 – A “Taxes-Security-Together” Checklist – Step 5

IR-2019-143, August 13, 2019 — The IRS and its Security Summit partners today reminded tax professionals that they should report data theft immediately to the IRS and follow an established process for helping the IRS protect their clients.

Moriarty selected as new associate chief counsel for Income Tax and Accounting

IR-2019-142, August 12, 2019 — The IRS’s Chief Counsel announced that John Moriarty has been selected as the new associate chief counsel, Income Tax and Accounting.

Individuals with significant tax debt should act promptly to avoid revocation of passports

IR-2019-141, August 8, 2019 — The Internal Revenue Service today urged taxpayers to resolve their significant tax debts to avoid putting their passports in jeopardy. They should contact the IRS now to avoid delays in their travel plans later.

Tax Security 2.0 – A “Taxes-Security-Together” Checklist – Step 4

IR-2019-140, August 6, 2019 — The IRS and its Security Summit partners today urged tax professionals to learn the tell-tale signs that their office may have experienced a data theft that resulted in fraudulent tax returns being filed in their clients’ names.

IRS launches new Tax Withholding Estimator; Redesigned online tool makes it easier to do a paycheck checkup

IR-2019-139, August 6, 2019  — The Internal Revenue Service today launched the new Tax Withholding Estimator, an expanded, mobile-friendly online tool designed to make it easier for everyone to have the right amount of tax withheld during the year.

IRS: Truckers should e-file highway use tax return by September 3

IR-2019-138, August 1, 2019 — The Internal Revenue Service today issued a reminder for owners of most heavy highway vehicles that the time to file Form 2290, Heavy Highway Vehicle Use Tax Return, began July 1, 2019.

Veteran IRS enforcement leaders selected to lead SB/SE, TE/GE; Hylton, Ripperda to serve as commissioners

IR-2019-137, July 31, 2019 — The IRS today announced the selection of Eric Hylton to lead the Small Business and Self-Employed (SB/SE) division and Tamera Ripperda to lead the Tax Exempt and Government Entities (TE/GE) division.

Tax Security 2.0 – A “Taxes-Security-Together” Checklist – Step 3

IR-2019-136, July 31, 2019 — The IRS, states and tax industry partners today warned tax professionals to beware of the continuing threat of phishing emails, which remain the most common tactic used by cybercriminals to steal sensitive data.

IRS, Treasury issue guidance on making or revoking the bonus depreciation elections

IR-2019-135, July 31, 2019 — The Internal Revenue Service today issued a Revenue Procedure allowing a taxpayer to make a late election, or to revoke an election, under section 168(k) for certain property acquired by the taxpayer after September 27, 2017, and placed in service by the taxpayer during its taxable year that includes September 28, 2017.

Orlando IRS Nationwide Tax Forum hosts seminars on cybersecurity, new tax law; Qualified Business Income sessions highly popular for tax pros

IR-2019-134, July 29, 2019 — Tax professionals who attend the IRS Nationwide Tax Forum in Orlando, Florida, will learn the latest on cybersecurity, ethics, tax law changes for 2019 and more.

August 1 IRS webinar to help employers, tax pros understand payroll taxes

IR-2019-133, July 29, 2019 — The Internal Revenue Service will conduct a webinar Aug. 1 for employers and tax professionals focusing on employment and payroll taxes.

IRS has begun sending letters to virtual currency owners advising them to pay back taxes, file amended returns; part of agency's larger efforts

IR-2019-132, July 26, 2019 — The IRS has begun sending letters to taxpayers with virtual currency transactions that potentially failed to report income and pay the resulting tax from virtual currency transactions or did not report their transactions properly.

Tax Security 2.0 – A "Taxes-Security-Together" Checklist – Step 2

IR-2019-131, July 23, 2019 — The IRS, state tax agencies and the nation’s tax industry today reminded all “professional tax preparers” that federal law requires them to create a written information security plan to protect their clients’ data.

Qualified Business Income sessions highlight 2019 Nationwide Tax Forum; 199A popular topic for tax pros attending

IR-2019-130, July 22, 2019 – The Internal Revenue Service reminded tax professionals that this year’s Nationwide Tax Forums offer several different sessions focusing on the new tax law’s provisions involving Qualified Business Income.

IRS expands list of preventive care for HSA participants to include certain care for chronic conditions

IR-2019-129, July 17, 2019 — The Internal Revenue Service today added care for a range of chronic conditions to the list of preventive care benefits that may be provided by a high deductible health plan (HDHP).

IRS provides additional details on transition tax on untaxed foreign earnings

IR-2019-128, July 16, 2019 — The Internal Revenue Service provided additional information to help taxpayers meet their filing and payment requirements for the Section 965 transition tax on untaxed foreign earnings.

Tax Security 2.0 – A "Taxes-Security-Together" Checklist – Step 1

IR-2019-127, July 16, 2019 — Using a new “Taxes-Security-Together” Checklist, the IRS and the Security Summit partners urged tax professionals to review critical security steps to ensure they are fully protecting their computers and email as well as safeguarding sensitive taxpayer data.

New Orleans prepped for IRS Nationwide Tax Forum, Aug. 6-8

IR-2019-126, July 16, 2019 — The IRS Nationwide Tax Forum slated for New Orleans is chock full of important information tax professionals can use, not only for continuing professional education credits, but to put into action immediately.

Time is running out for some combat-injured veterans to claim tax refunds of up to $3,200

IR-2019-125, July 12, 2019  — The IRS is reminding veterans who received disability severance payments after 1991 and claimed it as income that time may be running out to claim their refund.

Have a sunnier tax season with these summertime IRS tax tips

IR-2019-124, July 10, 2019 — Buying a home? Working a summer job? Volunteering? Activities that are common in the summer often qualify for tax credits or deductions.

National Taxpayer Advocate Nina Olson releases comprehensive report intended to improve EITC administration; publishes "subway map" of taxpayer’s journey through the tax system

IR-2019-123, July 10, 2019 — National Taxpayer Advocate Nina E. Olson today released a special report on the Earned Income Tax Credit (EITC), which makes recommendations designed to increase the participation rate of eligible taxpayers and reduce overclaims by ineligible taxpayers.

Tax Security 2.0 – A "Taxes-Security-Together" Checklist

IR-2019-122, July 9, 2019 — Leaders from the IRS, state tax agencies and the tax industry today called on tax professionals nationwide to take time this summer to review their current security practices, enhance safeguards where necessary and take steps to protect their businesses from global cybercriminal syndicates prowling the Internet.

IRS Nationwide Tax Forum in Chicago: Tax pros can get up-to-date info on cybersecurity, ethics, plus hear from IRS commissioner

IR-2019-121, July 1, 2019 — Tax professionals interested in attending the IRS Nationwide Tax Forum in Chicago, July 23-25, to learn cutting-edge information on tax reform, cybersecurity and more can save by registering now. IRS Commissioner Chuck Rettig will be the keynote speaker.

IRS issues guidance on the tax on the net investment income of certain private colleges and universities

IR-2019-120, June 28, 2019 — The Internal Revenue Service today issued proposed regulations for the new 1.4 percent excise tax on the net investment income of certain private colleges and universities.

National Taxpayer Advocate Nina Olson delivers her final report to Congress; identifies priority challenges facing the IRS and TAS

IR-2019-119, June 20, 2019 — National Taxpayer Advocate Nina E. Olson today released her 37th and final report to Congress in advance of her previously announced retirement on July 31.

Millions more ITINs set to expire in 2019; IRS says renew early to prevent refund delays

IR-2019-118, June 19, 2019 — Nearly 2 million Individual Taxpayer Identification Numbers (ITINs) are set to expire at the end of 2019 as the Internal Revenue Service continues to urge affected taxpayers to submit their renewal applications early to avoid refund delays next year.

Electronic Tax Administration Advisory Committee issues 2019 Annual Report; Recommendations target identity theft, refund fraud

IR-2019-117, June 19, 2019 — The Electronic Tax Administration Advisory Committee (ETAAC) today released its annual report to Congress, featuring recommendations focused on the prevention of identity theft and refund fraud.

Washington, D.C. area IRS Nationwide Tax Forum coming July 9 to 11; Register early to save and hear latest on tax reform, cybersecurity

IR-2019-116, June 18, 2019 — The IRS kicks off the 2019 Nationwide Tax Forum season with special sessions outside the nation’s capital focused on tax reform changes and cybersecurity tips for tax professionals.

IRS, Treasury issue guidance under Tax Cuts and Jobs Act and the Consolidated Appropriations Act of 2018 for cooperatives and patrons of cooperatives

IR-2019-115, June 18, 2019 — The Treasury Department and Internal Revenue Service today issued legal guidance under the 2017 Tax Cuts and Jobs Act (TCJA) and the Consolidated Appropriations Act of 2018 providing information on certain deductions to cooperatives and their patrons.

IRS and Treasury issue guidance related to global intangible low-taxed income (GILTI)

IR-2019-114, June 14, 2019 — The Treasury Department and the Internal Revenue Service issued final and proposed regulations today concerning global intangible low-taxed income under section 951A, the foreign tax credit, the treatment of domestic partnerships for purposes of determining the subpart F income of a partner, and the treatment of income of a controlled foreign corporation subject to a high rate of foreign tax under section 951A.

IRS wants to hear from large corporate taxpayers interested in applying for the Compliance Assurance Process

IR-2019-113, June 14, 2019 — The IRS is asking publicly-traded corporate taxpayers interested in applying to the Compliance Assurance Process (CAP) in 2020 to provide a statement of interest.

IRS reminder: Taxpayers can help determine the right amount of tax to withhold from their paychecks by doing a Paycheck Checkup now

IR-2019-112, June 14, 2019 — The IRS encourages taxpayers to look at their tax withholding now to take charge of their tax situation and avoid a surprise at tax time next year.

IRS reminds taxpayers to adjust tax withholding to pay the right tax amount

IR-2019-111, June 13, 2019 — With this year’s average tax refund around $2,700, the Internal Revenue Service reminds taxpayers they have options to control the amount of their take-home pay and the size of their tax refund by adjusting their tax withholding.

IRS Withholding Calculator can help workers have right amount of tax withheld following tax law changes

IR-2019-110, June 12, 2019 — Following the biggest set of tax law changes in more than 30 years, the Internal Revenue Service continues to remind taxpayers to do a Paycheck Checkup to help make sure they are having the right amount of tax withheld.

Final regulations on charitable contributions and state and local tax credits

IR-2019-109, June 11, 2019 — The U.S. Department of the Treasury and the Internal Revenue Service today issued final regulations that require taxpayers to reduce their charitable contribution deductions by the amount of any state or local tax credits they receive or expect to receive in return.

IRS reminder: Get tax withholding right; do a Paycheck Checkup at least once every year

IR-2019-108, June 11, 2019 — The Internal Revenue Service today urged taxpayers to review their 2019 tax withholding using the IRS Withholding Calculator and make any changes with their employer as soon as possible.

IRS continues campaign to encourage taxpayers to do a Paycheck Checkup; use Withholding Calculator to help get right amount for 2019

IR-2019-107, June 10, 2019 — The Internal Revenue Service today launched a special week-long  campaign encouraging taxpayers to do a Paycheck Checkup now to make sure they are having the right amount of tax taken out of their paychecks for 2019.

IRS warns of higher penalty for some tax returns filed after June 14

IR-2019-106, June 7, 2019 — The Internal Revenue Service urges taxpayers who owe tax and have not filed their 2018 return to act before Friday, June 14, before a larger penalty kicks in.

IRS reminder: June 17 is next deadline for those who pay estimated taxes

IR-2019-105, June 6, 2019 – The Internal Revenue Service today reminded taxpayers who pay estimated taxes that Monday, June 17, is the deadline for the second estimated tax payment for 2019.

IRS reminder: Tax scams continue year-round

IR-2019-104, June 5, 2019 – Although the April filing deadline has passed, scam artists remain hard at work, and the IRS today urged taxpayers to be on the lookout for a spring surge of evolving phishing emails and telephone scams.

Interest rates decrease for the third quarter of 2019

IR-2019-103, June 5, 2019 —The IRS today announced that interest rates will decrease for the calendar quarter beginning July 1, 2019.

For taxpayers living, working outside the U.S., file a return by June 17

IR-2019-102, June 5, 2019 — The Internal Revenue Service today reminded taxpayers living and working outside of the United States that they must file their 2018 federal income tax return by Monday, June 17.

IRS takes additional steps to protect taxpayer data; plans to end faxing and third-party mailings of certain tax transcripts

IR-2019-101, June 4, 2019 — As part of its ongoing efforts to protect taxpayers from identity thieves, the IRS today announced it will stop its tax transcript faxing service in June and will amend the Form 4506 series to end third-party mailing of tax returns and transcripts in July.

IRS Tax Forum ‘early bird’ registration ends June 15; enroll early, save

IR-2019-100, June 3, 2019 — The IRS is reminding tax professionals that reduced cost “early bird” registration for all five 2019 IRS Nationwide Tax Forums ends June 15 at 5 p.m. Eastern time.

IRS now billing those who filed for 2018 but didn’t pay; many payment options available

IR-2019-99, June 3, 2019 ― The Internal Revenue Service today advised those now receiving tax bills because they filed on time but didn’t pay in full that there are many easy options for paying what they owe.

IRS, Treasury unveil proposed W-4 design for 2020

IR-2019-98, May 31, 2019  — Today the Internal Revenue Service issued a draft of the 2020 Form W-4, Employee's Withholding Allowance Certificate, that will make accurate withholding easier for employees starting next year.

IRS: Doing a ‘Paycheck Checkup’ is a good idea for workers with multiple jobs

IR-2019-97, May 23, 2019 — The Internal Revenue Service urges taxpayers who work multiple jobs or who may be adding summer employment to complete a Paycheck Checkup.

IRS releases Data Book for 2018 showing range of tax data including audits, collection actions and taxpayer service

IR-2019-96, May 20, 2019 — The Internal Revenue Service today released the 2018 IRS Data Book, a snapshot of agency activities for the fiscal year.

LB&I Announces Large Corporate Compliance Program

IR-2019-95, May 16, 2019 — The Internal Revenue Service today announced a key advancement in how it identifies its biggest and most complex large corporations.

IRS seeks grant applications for Tax Counseling for the Elderly Program

IR-2019-94, May 16, 2019 — The Internal Revenue Service is now accepting applications for the Tax Counseling for the Elderly (TCE) grant program.

IRS statement and instructions regarding recent software outage

May 14, 2019 — The IRS has been working closely with CCH to ease the impact on taxpayers caused by their recent software outage.

IRS highlights credits and deductions for businesses during Small Business Week

IR-2019-93, May 10, 2019 — During Small Business Week, the IRS reminds small business owners and self-employed individuals to take deductions and credits that will help their bottom line.

During Small Business Week, IRS spotlights expanded tax benefits for depreciation and expensing

IR-2019-92, May 9, 2019 — During Small Business Week, the Internal Revenue Service is highlighting tax reform changes that impact depreciation and expensing for nearly every business.

During Small Business Week, IRS urges businesses to make estimated tax payments so they don’t owe

IR-2019-91, May 8, 2019 — As part of Small Business Week, the Internal Revenue Service today reminds small business owners and self-employed people that they can avoid a surprise tax bill and possibly a penalty by making estimated tax payments during the year.

Many tax-exempt organizations have until May 15 to file information returns; IRS warns against including personal data

IR-2019-90, May 7, 2019 — The Internal Revenue Service reminded certain tax-exempt organizations that Wednesday, May 15, 2019, is the filing deadline for Form 990-series information returns.

New requirement applies to any business seeking a tax ID number; IRS offers data security tips during National Small Business Week

IR-2019-89, May 7, 2019 — During National Small Business Week, the Internal Revenue Service wants small business taxpayers and the self-employed to know that, starting May 13, an important change will affect the way it issues employer identification numbers, or EINs.

For Small Business Week: Backup withholding rate now 24 percent, bonuses 22 percent; workers urged to do a Paycheck Checkup

IR-2019-88, May 6, 2019 — The Internal Revenue Service today reminded small businesses that recent tax reform legislation lowered the backup withholding tax rate to 24 percent and the withholding rate that usually applies to bonuses and other supplemental wages to 22 percent. The agency also urged employers to encourage their employees to check their withholding using the IRS Withholding Calculator.

IRS promotes disaster readiness and Hurricane Preparedness Week

IR-2019-87, May 3, 2019 — Disasters can happen at any time, and the Internal Revenue Service is encouraging taxpayers to be prepared for the unexpected.

IRS seeks nominations for Internal Revenue Service Advisory Council through June 10

IR-2019-86, May 2, 2019 — The IRS is now accepting applications for the Internal Revenue Service Advisory Council (IRSAC).

IRS urges data security, paying estimated taxes; highlights tax benefits, online resources during Small Business Week

IR-2019-85, May 2, 2019 — In support of National Small Business Week, May 5-11, the Internal Revenue Service is emphasizing the many IRS online resources available to help small business owners and self-employed individuals handle the tax aspects of their business.

IRS expands retirement plan Determination Letter Program and Self- Correction Program

IR-2019-84, May 1, 2019 — The IRS today announced the expansion of areas for issuing determination letters for certain retirement plans.

IRS accepting applications for 2020 grants for low income taxpayer clinics

IR-2019-83, May 1, 2019 — The IRS today announced that the application period for Low Income Taxpayer Clinic (LITC) grants for calendar year 2020 will run from May 1, 2019, to June 17, 2019.

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