IRS selects new advisory council members for 2020

IR-2019-205, December 12, 2019 — The Internal Revenue Service today announced the appointment of 12 new members to the Internal Revenue Service Advisory Council.

IRS and TTB formalize process to support processing of claims made to the IRS Whistleblower Office

IR-2019-204, December 11, 2019  — The Internal Revenue Service today announced a process has been formalized with the Alcohol and Tobacco Tax and Trade Bureau (TTB) that puts in place procedures between the IRS and TTB to process claims for whistleblower awards under internal revenue laws that are administered and enforced by TTB.

Dec. 31 deadline for most retirees to take required minimum distributions

IR-2019-203, December 10, 2019 — The IRS reminds retirees born before July 1, 1949, that they usually must take distributions from their retirement plans by December 31.

IRS selects longtime tax professional, Sharyn Fisk, to lead the Office of Professional Responsibility

IR-2019-202, December 9, 2019 — The IRS today announced the selection of Sharyn M. Fisk to lead the agency’s Office of Professional Responsibility (OPR).

Interest rates remain the same for the first quarter of 2020

IR-2019-201, December 6, 2019 —The IRS today announced that interest rates will remain the same for the calendar quarter beginning January 1, 2020.

National Tax Security Awareness Week, Day 5: Tax professionals need data protection plans; must guard against identity theft

IR-2019-200, December 6, 2019 — As National Tax Security Awareness week concludes, the IRS, state tax agencies and the tax industry today reminded tax professionals that federal law requires them to create and follow a written information security plan to protect their clients’ data.

IRS Criminal Investigation releases Fiscal Year 2019 Annual Report; celebrates 100 years

IR-2019-199, December 5, 2019 — The Internal Revenue Service today released the Criminal Investigation Division’s (CI) annual report, highlighting significant successes and criminal enforcement actions taken in fiscal year 2019.

National Tax Security Awareness Week, Day 4: IRS, Security Summit warns business owners about being targets for identity thieves

IR-2019-198, December 5, 2019 — Amid threats from cybercriminals, the IRS, state tax agencies and the tax industry urged employers large and small to step up cybersecurity protections against business identity theft

Jan. 31 filing deadline remains for employer wage statements, independent contractor forms

IR-2019-197, December 4, 2019 — The Internal Revenue Service today reminded employers and other businesses that wage statements and independent contractor forms still have a January 31 filing deadline.

National Tax Security Awareness Week, Day 3: Creating strong passwords can protect taxpayers from identity theft

IR-2019-196, December 4, 2019 — With millions of people logging in to websites and online accounts this holiday season, the IRS and the Security Summit partners remind taxpayers that common mistakes can increase their of risk having sensitive financial and tax data stolen by identity thieves.

National Tax Security Awareness Week, Day 2: Don’t take the bait: Recognize, avoid phishing scams from identity thieves

IR-2019-195, December 3, 2019 — As the holiday season approaches, the IRS and Security Summit partners warned taxpayers to watch out for phishing scams in the deluge of holiday email messages coming from retailers and others.

Treasury, IRS issue final regulations on new international provision, the base erosion and anti-abuse tax

IR-2019-194, December 2, 2019 — The Internal Revenue Service issued final regulations and proposed regulations today on the base erosion and anti-abuse tax.

Treasury, IRS issue final regulations on the Foreign Tax Credit

IR-2019-193, December 2, 2019 — The Internal Revenue Service issued final regulations today on the Foreign Tax Credit, a long-standing tax benefit that generally allows individuals and businesses to claim a credit for income taxes paid or accrued to foreign governments.

National Tax Security Awareness Week begins; IRS and Security Summit partner offer Cyber Monday shopping tips to protect computers, mobile phones

IR-2019-192, December 2, 2019 — The Internal Revenue Service and the Security Summit partners opened this year’s National Tax Security Awareness Week with a warning for holiday shoppers on Cyber Monday to secure their computers and mobile phones to reduce the threat of identity theft.

Get ready for taxes: Important things to know about refunds

IR-2019-191, November 26, 2019 — As tax filing season approaches, the Internal Revenue Service cautions taxpayers not to rely on receiving their refund by a certain date, especially when making major purchases or paying bills. Some tax returns may require additional review and those refunds may take longer.

IRS updates per diem guidance for business travelers and their employers

IR-2019-190, November 26, 2019 — The Internal Revenue Service today issued guidance for business travelers, updated to include changes resulting from the Tax Cuts and Jobs Act (TCJA).

Final regulations confirm: Making large gifts now won’t harm estates after 2025

IR-2019-189, November 22, 2019 — The Treasury Department and the IRS today issued final regulations confirming that individuals taking advantage of the increased gift and estate tax exclusion amounts in effect from 2018 to 2025 will not be adversely impacted after 2025 when the exclusion amount is scheduled to drop to pre-2018 levels.

IRS announces 2020 Tax Counseling for the Elderly Grants

IR-2019-188, November 22, 2019 — The IRS recently awarded more than $9.8 million in TCE grants to organizations that provide free federal tax return preparation.

IRS Advisory Council issues 2019 Annual Report

IR-2019-187, November 20, 2019 — The Internal Revenue Service Advisory Council (IRSAC) today issued its annual report for 2019, including recommendations to the IRS on new and continuing issues in tax administration.

IRS reminds tax professionals of tasks to get ready for 2020

IR-2019-186, November 19, 2019 — The IRS today reminded tax professionals to review their e-Services account to ensure all contact information is accurate and to add or remove users. Reviewing e-Services information is just one of the tasks tax pros should complete now to get ready for 2020.

Security Summit marks 4th National Tax Security Awareness Week

IR-2019-185, November 18, 2019 —The IRS, state tax agencies and the nation’s tax industry today announced that the 4th Annual National Tax Security Awareness Week will take place between December 2 and December 6.

IRS updates guidance for deductible business, charitable, medical and moving expenses

IR-2019-183, November 14, 2019 — The Internal Revenue Service today issued guidance for taxpayers with certain deductible expenses to reflect changes resulting from the Tax Cuts and Jobs Act (TCJA).

IRS increases enforcement action on Syndicated Conservation Easements

IR-2019-182, November 12, 2019 — The IRS announced today a significant increase in enforcement actions for syndicated conservation easement transactions, a priority compliance area for the agency.

Get Ready for Taxes: Important things to know about tax credits

IR-2019-181, November 7, 2019 - With the tax filing season quickly approaching, the Internal Revenue Service recommends taxpayers take time now to determine if they are eligible for important tax credits.

IRS provides tax inflation adjustments for tax year 2020

IR-2019-180, November 6, 2019 — The IRS today announced the tax year 2020 annual inflation adjustments for more than 60 tax provisions, including the tax rate schedules and other tax changes.

401(k) contribution limit increases to $19,500 for 2020; catch-up limit rises to $6,500

IR-2019-179, November 6, 2019 — The Internal Revenue Service today announced that employees in 401(k) plans will be able to contribute up to $19,500 next year.

Get Ready for Taxes:  Get ready today to file 2019 federal income tax returns

IR-2019-178, October 31, 2019 – The Internal Revenue Service today urged taxpayers to act now to avoid a tax-time surprise and ensure smooth processing of their 2019 federal tax return.

IRS, Treasury issue final regulations on new reporting requirements for life insurance contract transactions

IR-2019-177, October 25, 2019 –The Internal Revenue Service today issued final regulations on the new information reporting requirements for certain life insurance contract transactions

IRS urges tax professionals to renew PTINs now for 2020

IR-2019-176, October 23, 2019 — The Internal Revenue Service today urged tax return preparers to start the upcoming 2020 filing season smoothly by renewing their Preparer Tax Identification Numbers now.

IRS urges families, teens to make online safety a priority

IR-2019-175, October 22, 2019 – The IRS today urged families and teens to stay vigilant in protecting personal information while connected to the internet.

Online seminars from 2019 IRS Nationwide Tax Forums now available

IR-2019-174, October 21, 2019 — Tax professionals can earn continuing education credits online by taking seminars recorded at the 2019 IRS Nationwide Tax Forums.

IRS recommends business owners e-file payroll tax returns

IR-2019-173, October 21, 2019 — With the Oct. 31 quarterly payroll tax return due date just around the corner, the IRS today urged business owners to take advantage of the speed and convenience of filing these returns electronically.

IRS launches International Charity Fraud Awareness Week

IR-2019-172, October 21, 2019 — The IRS is joining an international coalition in launching the second annual International Charity Fraud Awareness Week (ICFAW).

IRS reminds employers about the benefits of EFTPS

IR-2019-171, October 18, 2019 — The Internal Revenue Service today wants small business owners who are employers to know that the Electronic Federal Tax Payment System has features that can help them in meeting their tax obligations. EFTPS can help employers whether they prepare and submit payroll taxes themselves or if they hire a payroll service provider to do it on their behalf.

IRS selects nine new members for the Electronic Tax Administration Advisory Committee

IR-2019-170, October 15, 2019 — The Internal Revenue Service has selected nine new members for the Electronic Tax Administration Advisory Committee (ETAAC).

IRS celebrates military families during National Work and Family Month

IR-2019-169, October 15, 2019 — As part of National Work and Family Month, the IRS reminds military families that they often qualify for specific tax rules and benefits.

2 million ITINs set to expire in 2019; to avoid refund delays apply soon

IR-2019-168, October 10, 2019 —Taxpayers with expiring Individual Taxpayer Identification Numbers (ITINs) can get their ITINs renewed more quickly and avoid refund delays next year by submitting their renewal application soon, the Internal Revenue Service said today.

Virtual currency: IRS issues additional guidance on tax treatment and reminds taxpayers of reporting obligations

IR-2019-167, October 9, 2019 — As part of a wider effort to assist taxpayers and to enforce the tax laws in a rapidly changing area, the Internal Revenue Service today issued two new pieces of guidance for taxpayers who engage in transactions involving virtual currency.

IRS celebrates National Work and Family Month

IR-2019-166, October 8, 2019 – The IRS is participating in National Work and Family Month by issuing a series of informative tips on work-life balance throughout the month of October.

New payment option available to taxpayers in private debt collection program

IR-2019-165, October 8, 2019 — Internal Revenue Service officials today announced that a new payment option has been added to the private debt collection program to make it easier for those who owe to pay their tax debts.

IRS extends Oct. 15 and other upcoming deadlines, provides other tax relief for victims of Tropical Storm Imelda

IR-2019-164, October 7, 2019 – Victims of Tropical Storm Imelda in parts of Texas, including the Houston area, have until Jan. 31, 2020, to file various individual and business tax returns and make tax payments, the Internal Revenue Service announced today.

Reminder: Oct. 15 deadline approaching for taxpayers who requested extensions

IR-2019-163, October 7, 2019 — Taxpayers who requested the six-month filing extension should complete their tax returns and file on or before the Oct. 15 deadline.

IRS grants relief for U.S. persons who own stock in certain foreign corporations

IR-2019-162, October 1, 2019 — The Department of the Treasury and the Internal Revenue Service today issued Revenue Procedure 2019-40 and proposed regulations that provides relief to certain U.S. persons that own stock in certain foreign corporations.

IRS relief provides drought-stricken farmers, ranchers more time to replace livestock

IR-2019-161, September 30, 2019 — Farmers and ranchers who were forced to sell livestock due to drought may have an additional year to replace the livestock and defer tax on any gains from the forced sales, according to the IRS.

IRS releases draft 2019 Forms 1065, 1120-S, and Schedules K-1

IR-2019-160, September 30, 2019 – Today the IRS issued a draft of the tax year 2019 Form 1065, U.S. Return of Partnership Income, and its Schedule K-1, Partner’s Share of Income, Deductions, Credits, etc.

IRS releases new Tax Gap estimates; compliance rates remain substantially unchanged from prior study

IR-2019-159, September 26, 2019 — IRS releases new Tax Gap estimates; compliance rates remain substantially unchanged from prior study 

IRS finalizes safe harbor to allow rental real estate to qualify as a business for qualified business income deduction

IR-2019-158, September 24, 2019 — The Internal Revenue Service today issued Revenue Procedure 2019-38 that has a safe harbor allowing certain interests in rental real estate, including interests in mixed-use property, to be treated as a trade or business for purposes of the qualified business income deduction under section 199A of the Internal Revenue Code (section 199A deduction).

IRS offers settlement for micro-captive insurance schemes; letters being mailed to groups under audit

IR-2019-157, September 16, 2019 — The Internal Revenue Service announced today the mailing of a time-limited settlement offer for certain taxpayers under audit who participated in abusive micro-captive insurance transactions.

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.

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