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.

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.

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