News Releases for July 2020

IRS issues proposed regulations for TCJA’s simplified tax accounting rules for small businesses

IR-2020-174, July 30, 2020 — The Internal Revenue Service today issued proposed regulations proposed regulations updating various tax accounting regulations to adopt the simplified tax accounting rules for small businesses under the Tax Cuts and Jobs Act (TCJA).

IRS grants additional relief for rehabilitation credit deadlines

IR-2020-173, July 30, 2020 — Because of the burdens the COVID-19 pandemic has placed on taxpayers claiming the rehabilitation credit, the Internal Revenue Service today issued Notice 2020-58 that provides additional relief to taxpayers in satisfying the substantial rehabilitation test.

IRS: New law provides relief for eligible taxpayers who need funds from IRAs and other retirement plans

IR-2020-172, July 29, 2020 — The Internal Revenue Service provided a reminder today that the Coronavirus Aid, Relief, and Economic Security (CARES) Act can help eligible taxpayers in need by providing favorable tax treatment for withdrawals from retirement plans and IRAs and allowing certain retirement plans to offer expanded loan options.

IRS issues final regulations and other guidance on business interest expense deduction limitation

IR-2020-171, July 28, 2020 — The Internal Revenue Service issued final regulations regarding the provision of the Tax Cuts and Jobs Act that limits the deduction for business interest expense, including basic statutory amendments made by the CARES Act.

Working Virtually: Use multi-factor authentication to protect accounts; Part 2 of Security Summit tips for tax professionals

IR-2020-170, July 28, 2020 — With heightened threats during COVID-19, the Internal Revenue Service and Security Summit partners today called on tax professionals to select multi-factor authentication options whenever possible to prevent identity thieves from gaining access to client accounts.

IRS provides guidance on recapturing excess employment tax credits

IR-2020-169, July 27, 2020 — The Internal Revenue Service issued a temporary regulation and a proposed regulation to reconcile advance payments of refundable employment tax credits and recapture the benefit of these credits when necessary.

IRS에서 현금 거래 신고서를 제출하려는 사업체에게 전자 제출 옵션 및 일괄 제출에 관해 알려드립니다

IR-2020-168, 2020년 7월 22일 — 국세청(IRS)은 많은 양의 현금 거래 신고서를 제출해야 하는 사업체들에게 전자 제출이 신속하고 간편하며 안전한 신고서 제출 방식이 될 수 있음을 알려드립니다. 이제 사업체는 신고서를 일괄 제출할 수 있게 되었습니다. 이는 여러 양식을 제출해야 하는 사업체에게 특히 유용합니다.

Working Virtually: Protect tax data at home and at work with the "Security Six;" Part 1 of Security Summit tips for tax professionals

IR-2020-167, July 21, 2020 — With cyberthieves active during COVID-19, the Internal Revenue Service and the Security Summit partners today urged tax professionals to review critical security steps to ensure they are fully protecting client data whether working in the office or a remote location.

IRS creates new Enterprise Digitalization and Case Management office; Smith, Abold-LaBreche to serve as co-directors

IR-2020-166, July 21, 2020 — The Internal Revenue Service announced today the creation of the new Enterprise Digitalization and Case Management office, which will spearhead IRS efforts to empower taxpayers and IRS employees to rapidly resolve issues in a simplified digital environment.

Treasury, IRS issue final and proposed regulations on income subject to a high rate of foreign tax

IR-2020-165, July 20, 2020 — The Department of the Treasury and the Internal Revenue Service today issued a final regulation addressing the treatment of income earned by certain foreign corporations that is subject to a high rate of foreign tax.

7월 15일 기한을 넘긴 납세자에 대한 IRS의 권고: 지금 신고하지 않으면 과태료가 부과될 수 있습니다

IR-2020-164, 2020년 7월 20일 — 워싱턴 — 7월 15일 기한을 넘긴, 기한 연장을 신청하지 않은 납세자는 과태료 부과를 방지하기 위해 최대한 빨리 전자 방식으로 제출하는 등 조치를 취하실 것을 국세청(IRS)에서 알려드립니다.

Security Summit focuses on tax pro security during coronavirus; new series on working virtually: protecting tax data at home and at work

IR-2020-163, July 17, 2020 — The Internal Revenue Service and the Security Summit partners today urged tax professionals this summer to review critical security steps to ensure they are fully protecting client data whether working in the office or a remote location.

IRS: Seniors, retirees not required to take distributions from retirement accounts this year under new law

IR-2020-162, July 17, 2020 — The Internal Revenue Service today reminds seniors and retirees that they are not required to take money out of their IRAs and workplace retirement plans this year.

IRS, 세금 환급에 관한 미신 폭로

IR-2020-161, 2020년 7월 16일 ― 7월 15일 신고서 제출 기한 만료에 따라 국세청(IRS)은 환급금 수령 시기를 알아낼 수 있는 비책은 존재하지 않는다는 점을 모든 납세자에게 알려드립니다.

IRS, 2020년 '더티 더즌' 세금 사기 리스트 공개 및 코로나19와 그 이후 이러한 위협에 대한 미국 시민의 경계 촉구

IR-2020-160, 2020년 7월 16일 — 국세청(IRS)은 오늘 매년 발표하는 '더티 더즌' 세금 사기 리스트를 공개하며 경제 충격 지원금 등 코로나바이러스 세금 구제와 관련된 사기가 공격적이며 진화하고 있다는 사실을 특히 강조했습니다.

IRS announces 2021 PTIN fees for tax return preparers

IR-2020-159, July 15, 2020 — The Internal Revenue Service announced today the annual fee for 2021 that tax return preparers must pay to apply for or renew their Preparer Tax Identification Number (PTIN).

IRS is sending letters to those experiencing a delay with advance payment of employer credits

IR-2020-158, July 15, 2020 — The Internal Revenue Service has started sending letters to taxpayers who have experienced a delay in the processing of their Form 7200, Advance Payment of Employer Credits Due To COVID-19.

IRS.gov의 내 환급금 조회하기 도구를 통해 환급금 수령 시기를 알아보세요

IR-2020-157, 2020년 7월 15일 — 국세청(IRS)은 납세자가 세금 환급을 확인할 수 있는 가장 좋은 방법이 IRS 웹사이트와 IRS2Go 앱의 내 환급금 조회하기 도구라는 사실을 알립니다. 유용한 이 도구는 하루에 한 번, 일반적으로 밤사이에 업데이트되며, 세금 환급이 승인되는 즉시 납세자에게 추정 환급금 지급 날짜를 제시합니다.

IRS provides additional relief for tax-exempt hospitals: Deadline for completing certain needs assessment requirements moved to Dec. 31

IR-2020-156, July 14, 2020 — Because of the burdens the COVID-19 pandemic has placed on hospitals, the Internal Revenue Service today provided additional relief to hospital organizations that must meet the Community Health Needs Assessments (CHNA) requirements.

Treasury and IRS release draft partnership form to provide greater clarity on international tax reporting

IR-2020-155, July 14, 2020 — The Treasury Department and the IRS today released a proposed redesigned partnership form for tax year 2021 (filing season 2022).

IRS reminder: File and pay 2019 business taxes by July 15; 2020 estimated tax also due

IR-2020-154, July 14, 2020 — The Internal Revenue Service today reminded business taxpayers that their 2019 tax returns and tax payments, as well as their first two 2020 estimated tax payments, are due on Wednesday, July 15.

IRS 알림: 납세자는 10월 15일까지 세금 신고를 연장할 수 있습니다

IR-2020-153, 2020년 7월 14일 — 국세청(IRS)은 오늘 납세자에게 연장된 마감 기한인 2020년 7월 15일까지 2019년 연방 세금 신고서 제출 기한 연장을 신청해야 한다고 알립니다. 기한 연장에 따라 납세자는 10월 15일까지 세금 신고서 제출을 연장할 수 있으나, 세금은 7월 15일까지 납부해야 합니다.

Tax Court strikes down four more abusive syndicated conservation easement transactions; IRS calls on taxpayers to accept settlement offers in syndicated conservation easement cases

IR-2020-152, July 13, 2020 — On July 9, the U.S. Tax Court struck down four more abusive syndicated conservation easement transactions.

J5 reflects on two-years pursuing global tax cheats

IR-2020-151, July 13, 2020 — Leaders from five international tax organizations are marking the two-year anniversary of the formation of the Joint Chiefs of Global Tax Enforcement (J5) this week.

IRS gives tips on filing, paying electronically and checking refunds online; 2019 tax returns and payments due July 15

IR-2020-150, July 13, 2020 — The Internal Revenue Service today reminded taxpayers with a filing requirement to file an accurate tax return on time even if a balance due can’t be paid in full.

IRS, 급여 검사로 예상치 못한 세금을 피할 수 있다고 알림

IR-2020-149, 2020년 7월 10일 — 국세청(IRS)은 납세자가 IRS 세금 원천징수 추정기(영어)를 이용하여 급여 검사(영어)를 하면 적정 수준으로 세금이 원천징수되어 내년 세금 신고 시 예상치 못한 세금을 피할 수 있다고 알리고 있습니다.

IRS provides last-minute tips for last-minute filers

IR-2020-148, July 10, 2020 — With the July 15 tax-filing deadline − postponed from April 15 – only a few days away, the IRS is reminding taxpayers who have yet to file their tax returns that IRS.gov has tools and services to help them meet their tax obligations.

IRS finalizes guidance on deduction for foreign-derived intangible income and global intangible low-taxed income

IR-2020-147, July 9, 2020 — The IRS issued final regulations final regulations that provide guidance on deductions for foreign-derived intangible income (FDII) and global intangible low-taxed income allowed to domestic corporations under the Internal Revenue Code.

IRA contributions made by July 15 count as 2019 tax deduction

IR-2020-146, July 9, 2020 — The IRS today reminded people that contributions to traditional Individual Retirement Arrangements (IRAs) made by the postponed tax return due date of July 15, 2020, are deductible on a 2019 tax return.

7월 15일까지 세금 신고 및 납부 기한 연장에 따른 답변을 IRS.gov에서 찾아보세요

IR-2020-145, 2020년 7월 9일 — 세금 신고 마감 기한인 7월이 다가오면서 IRS는 납세자가 IRS.gov에서 이용할 수 있는 여러 온라인 자료를 알립니다. 방대한 정보 덕분에 가정용 컴퓨터나 모바일 기기에서 IRS.gov에 접속하는 납세자의 수가 해마다 늘고 있습니다.

Treasury, IRS issue guidance on reporting qualified sick and family leave wages paid

IR-2020-144, July 8, 2020 — The Treasury Department and the IRS today provided guidance in Notice 2020-54 to employers requiring them to report the amount of qualified sick and family leave wages paid to employees under the Families First Coronavirus Response Act on Form W-2.

IRS resources available in English, Spanish and other languages to help taxpayers still needing to file their 2019 tax returns

IR-2020-143, July 8, 2020 — As the tax-filing deadline fast approaches, the IRS reminds taxpayers with limited English proficiency and who have yet to file their 2019 tax returns that there are a variety of ways to get help and information in languages other than English.

Taxpayers need to resume payments by July 15

IR-2020-142, July 8, 2020 — The IRS today reminds taxpayers who took advantage of the People First Initiative tax relief and did not make previously owed tax payments between March 25 to July 15 that they need to restart their payments.

Reminder to tax-exempt organizations: 990s, other forms due July 15; e-file best way to file

IR-2020-141, July 7, 2020 — The IRS today reminds tax-exempt organizations that certain forms they file with the IRS are due on July 15, 2020.

IRS reminds members of the U.S. Armed Forces of special tax breaks, helpful resources as the July 15 tax deadline approaches

IR-20-140, July 7, 2020 ― The IRS today encouraged members of the military and their families to learn more about the special tax benefits available to them as the July 15 tax filing season deadline approaches.

Find a qualified tax professional using IRS website resources

IR-2020-139, July 6, 2020 — With the federal income tax deadline just around the corner, the Internal Revenue Service wants to remind taxpayers that IRS.gov offers tips on finding a qualified tax professional.

Treasury Department and IRS issue guidance for consolidated groups regarding net operating losses

IR-2020-138, July 2, 2020 — The Department of the Treasury and the Internal Revenue Service today issued proposed regulations and temporary regulations that provide guidance for consolidated groups regarding net operating losses (NOLs).

IRS offers additional retail partners that accept cash payments for federal taxes

IR-2020-137, July 1, 2020 — The Internal Revenue Service today announced additional retail partners are accepting cash payments for federal taxes.

IRS provides tax relief for the low-income housing credit and bonds for qualified residential rental projects

IR-2020-136, July 1, 2020 — In response to the ongoing COVID-19 pandemic, the Internal Revenue Service today issued Notice 2020-53 to provide tax relief to issuers, operators, owners, and tenants of qualified low-income housing projects or qualified residential rental projects financed with exempt facility bonds, and state agencies that have jurisdiction over these projects.

IRS unclaimed refunds of $1.5 billion waiting for tax year 2016; taxpayers face July 15 deadline

IR-2020-135, July 1, 2020 — Unclaimed income tax refunds worth more than $1.5 billion await an estimated 1.4 million individual taxpayers who did not file a 2016 federal income tax return, according to the Internal Revenue Service.

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