Frequently asked questions related to new, previously-owned and qualified commercial clean vehicle credits PDF FS-2022-42, December 2022 — This Fact Sheet issues frequently asked questions related to new, previously-owned and qualified commercial clean vehicle. Frequently asked questions about Form 1099-K PDF FS-2022-41, December 2022 — This Fact Sheet issues frequently asked questions about Form 1099-K. Frequently asked questions about energy efficient home improvements and residential clean energy property credits PDF FS-2022-40, December 2022 — This Fact Sheet issues frequently asked questions about energy efficient home improvements and residential clean energy property credits. IRS updates frequently asked questions about the 2020 unemployment compensation exclusion PDF FS-2022-39, December 2022 — This Fact Sheet updates the 2020 unemployment compensation exclusion frequently-asked-questions (FAQs). Know the difference between a hobby and a business FS-2022-38, October 2022 — Most people take up hobbies for personal enjoyment, not to make a profit. Sometimes, however, the line between hobbies and businesses isn’t clear cut. There are several different factors people should consider when making the determination and the IRS provides resources to help. Tip income is taxable and must be reported FS-2022-37, October 2022 — People who work in restaurants, salons, hotels and similar industries often receive tips for the customer service they provide. Tips can be taxable income, but it’s important for people working in these areas to understand important details involving tips. IRS updates frequently asked questions for states and local governments on taxability and reporting of payments from Coronavirus State and Local Fiscal Recovery Funds FS-2022-36, September 2022 — This Fact Sheet updates frequently asked questions (FAQs) related to the Coronavirus State and Local Fiscal Recovery Funds established under the American Rescue Plan Act (SLFR Funds) (FS-2021-16). These funds give eligible state and local governments a substantial infusion of resources to meet pandemic response needs. IRS offers tips for people who haven’t filed their 2021 tax return; encourages taxpayers to file soon FS-2022-35, August 2022 — Many people haven’t yet filed their 2021 tax return, with an estimated 19 million taxpayers requesting an extension to file until October 17. Others haven’t yet filed because they need help, can’t find their records or are unsure about whether they need to file. The IRS urges people to file electronically sooner rather than later and provides resources to get the answers needed to file an accurate return. Security Summit partners urge tax pros to create plan for data safety FS-2022-34, August 2022 — With data security incidents continuing, the Internal Revenue Service, state tax agencies and the tax industry – known as the Security Summit -- urge tax professionals to develop a security plan. Understanding how the IRS contacts taxpayers; Avoiding scams and how to know it’s really the IRS reaching out FS-2022-33, July 2022 — With continuing phone and in-person scams taking place across the country, the IRS wants to help taxpayers understand how and why agency representatives may contact taxpayers. IRS revises the 2021 Child Tax Credit and Advance Child Tax Credit frequently asked questions PDF FS-2022-32, July 2022 — This Fact Sheet updates the 2021 Child Tax Credit and Advance Child Tax Credit frequently asked questions (FAQs). These updates are to help eligible families properly claim the credit when they prepare and file their 2021 tax return. IRS issues Superfund Chemical Excise Taxes FAQs FS-2022-31, June 2022 — This fact sheet explains what the Superfund chemical excise tax is, how the tax is computed, and who may be liable for the tax. IRS Updates Questions and Answers about the Tax Year 2021 Earned Income Tax Credit FS-2022-30, May 2022 — This Fact Sheet updates the frequently asked questions (FAQs) for Tax Year 2021 Earned Income Tax Credit (FS-2022-14). More people without children now qualify for the Earned Income Tax Credit (EITC), the federal government's largest refundable tax credit for low- to moderate-income families. In addition, families can use pre-pandemic income levels to qualify if it results in a larger credit. IRS revises the 2021 Child Tax Credit and Advance Child Tax Credit frequently asked questions PDF FS-2022-29, May 2022 — This Fact Sheet revises the 2021 Child Tax Credit and Advance Child Tax Credit frequently asked questions (FAQs). These updates are to help eligible families properly claim the credit when they prepare and file their 2021 tax return. IRS updates Tax Year 2021/Filing Season 2022 Child Tax Credit Frequently Asked Questions, information to help taxpayers prepare their 2021 returns PDF FS-2022-28, April 2022 — This Fact Sheet provides a new Topic F to the Tax Year 2021/Filing Season 2022 Child Tax Credit Frequently Asked Questions (FAQs) that highlight the most commonly asked filing season questions to assist taxpayers who received the Advance Child Tax Credit or who were eligible to receive the Child Tax Credit in preparing their 2021 tax returns. IRS updates frequently asked questions to assist those claiming the 2021 Recovery Rebate Credit PDF FS-2022-27, April 2022 — This Fact Sheet updates frequently asked questions (FAQs) for the 2021 Recovery Rebate Credit. Individuals who did not qualify for, or did not receive, the full amount of the third Economic Impact Payment may be eligible to claim the 2021 Recovery Rebate Credit based on their 2021 tax year information. IRS revises the 2020 Recovery Rebate Credit Frequently Asked Questions PDF FS-2022-26, April 2022 — This Fact Sheet revises the frequently asked questions (FAQs) for the 2020 Recovery Rebate Credit Frequently Asked Questions (FAQs). When to file an Identity Theft Affidavit FS-2022-25, April 2022 — When a taxpayer believes their personal information is being used to file fraudulent tax returns, they should submit a Form 14039, Identity Theft Affidavit, to the IRS. But in most cases, taxpayers do not need to complete this form. Only victims of tax-related identity theft should submit the Form 14039, and only if they haven’t received certain letters from the IRS. Details on reporting foreign bank and financial accounts FS-2022-24, March 2022 — The law requires U.S. persons to report their overseas financial accounts because foreign financial institutions may not be subject to the same reporting requirements as domestic institutions. Civil and criminal penalties may apply for failures to properly file their Report of Foreign Bank and Financial Account (FBAR) when required. The IRS provides these details to help filers prepare and file their FBAR. FAQs for Payments by Indian Tribal Governments and Alaska Native Corporations to Individuals Under COVID-Relief Legislation FS-2022-23, March 2022 — This Fact Sheet issues final FAQs for Payments by Indian Tribal Governments and Alaska Native Corporations to Individuals under COVID-Relief Legislation, which reflect updates to the Draft FAQs based on input from tribal government and Alaska Native Corporations leaders. Questions and Answers about the Third-round Economic Impact Payment PDF FS-2022-22, March 2022 — This Fact Sheet updates frequently asked questions (FAQs) for the third-round Economic Impact Payment. IRS updates 2020 unemployment compensation exclusion FAQs PDF FS-2022-21, March 2022 — This Fact Sheet updates several FAQs in the 2020 unemployment compensation exclusion frequently asked questions (FAQs). Money received through "crowdfunding" may be taxable; taxpayers should understand their obligations and the benefits of good recordkeeping FS-2022-20, March 2022 — Crowdfunding is a method of raising money through websites by soliciting contributions from a large number of people. The contributions may be solicited to fund businesses, for charitable donations, or for gifts. IRS-CI Highlights FS-2022-19, March 2022 — This fact sheet shows just a small example of the types of cases in which CI has led or been significantly involved in over the last few years. These cases show the breadth and skill of CI’s Special Agents in various types of fraud and criminal activity that have had significant impacts on the financial system at home and abroad. IRS Spotlights Criminal Investigation Law Enforcement FS-2022-18, March 2022 — CI pursues financial crimes like money laundering, terrorist financing, cybercrimes, and sanctions evasion—including investigating and seizing assets of Russian elites IRS updates the 2021 Child Tax Credit and Advance Child Tax Credit frequently asked questions PDF FS-2022-17, March 2022 — This Fact Sheet updates the 2021 Child Tax Credit and Advance Child Tax Credit frequently asked questions (FAQs). These updates are to help eligible families properly claim the credit when they prepare and file their 2021 tax return. Tax Credits for Paid Leave Under the Families First Coronavirus Response Act for Leave Prior to April 1, 2021 PDF FS-2022-16, March 2022 — This Fact Sheet updates frequently asked questions (FAQs) for the Tax Credits for Paid Leave Under the Families First Coronavirus Response Act for Leave Prior to April 1, 2021. Tax Credits for Paid Leave Under the American Rescue Plan Act of 2021 for Leave After March 31, 2021 PDF FS-2022-15, March 2022 — This Fact Sheet updates frequently asked questions (FAQs) for the Tax Credits for Paid Leave Under the American Rescue Plan Act of 2021 for Leave After March 31, 2021. IRS Issues Questions and Answers about the Tax Year 2021 Earned Income Tax Credit FS-2022-14, March 2022 — This Fact Sheet provides frequently asked questions (FAQs) for Tax Year 2021 Earned Income Tax Credit. More people without children now qualify for the Earned Income Tax Credit (EITC), the federal government's largest refundable tax credit for low- to moderate-income families. In addition, families can use pre-pandemic income levels to qualify if it results in a larger credit. Questions and Answers on the Premium Tax Credit PDF FS-2022-13, February 2022 — This Fact Sheet updates frequently asked questions (FAQs) for the Premium Tax Credit. IRS updates several frequently asked questions to assist those claiming the 2021 Recovery Rebate Credit PDF FS-2022-12, February 2022 — This Fact Sheet updates several frequently asked questions (FAQs) for the 2021 Recovery Rebate Credit. Individuals who did not qualify for, or did not receive, the full amount of the third Economic Impact Payment may be eligible to claim the 2021 Recovery Rebate Credit based on their 2021 tax year information. IRS revises frequently asked questions for the Higher Education Emergency Grants PDF FS-2022-11, February 2022 — This Fact Sheet updates frequently asked questions (FAQs) for the Higher Education Emergency Grants. This update adds new FAQ Questions 8 and 9. IRS: Expanded credits for families highlight tax changes for 2021; many people who don’t normally file should file this year FS-2022-10, February 2022 — Expanded tax credits for families, a deduction for non-itemizers who give to charity and a higher limit for itemizers who give to charity are among the American Rescue Plan changes that taxpayers will see on their 2021 federal income tax return. IRS revises frequently asked questions to assist those claiming the 2021 Recovery Rebate Credit PDF FS-2022-09, February 2022 — This Fact Sheet updates the 2021 Recovery Rebate Credit Frequently Asked Questions for the individuals who did not qualify for, or did not receive, the full amount of the third Economic Impact Payment and may be eligible to claim the 2021 Recovery Rebate Credit based on their 2021 tax year information. IRS updates the 2020 Recovery Rebate Credit Frequently Asked Questions PDF FS-2022-08, February 2022 — This Fact Sheet updates FAQ # F8 of the 2020 Recovery Rebate Credit Frequently Asked Questions (FAQs). IRS updates the 2021 Child Tax Credit and Advance Child Tax Credit frequently asked questions PDF FS-2022-07, February 2022 — This Fact Sheet updates the 2021 Child Tax Credit and Advance Child Tax Credit frequently asked questions (FAQs). These updates are to help eligible families properly claim the credit when they prepare and file their 2021 tax return. IRS updates Filing Season 2021 Child Tax Credit frequently asked questions, information to help taxpayers prepare their 2021 returns PDF FS-2022-06, January 2022 — This Fact Sheet provides new frequently asked questions (FAQs) to assist taxpayers who received the Advance Child Tax Credit or who were eligible to receive the Child Tax Credit in preparing their 2021 tax returns. Special tips for the advance Child Tax Credit and filing the 2021 tax return FS-2022-5, January 2022 — People who received advance Child Tax Credit payments should file a 2021 tax return to get the remainder of the credit for which they are eligible. IRS issues frequently asked questions to assist those claiming the 2021 Recovery Rebate Credit PDF FS-2022-04, January 2022 — This Fact Sheet provides frequently asked questions (FAQs) for the 2021 Recovery Rebate Credit. IRS updates the 2021 Child Tax Credit and Advance Child Tax Credit frequently asked questions PDF FS-2022-03, January 2022 — ACTC FAQs Fact Sheet which includes updated information about the advance Child Tax Credit. IRS updates the 2020 Recovery Rebate Credit Frequently Asked Questions PDF FS-2022-02, January 2022 —This Fact Sheet updates the Topic F in the 2020 Recovery Rebate Credit Frequently Asked Questions (FAQs). IRS updates FAQs for 2020 Unemployment Compensation Exclusion PDF FS-2022-01, January 2022 — IRS updates Topic G in the 2020 unemployment compensation exclusion FAQs. News release and fact sheet archive Find previous year news releases and fact sheets from 1997 through last month.
