News Releases for April 2021

IRS now accepting TCE and VITA grant applications

IR-2021-99, April 30, 2021 — Eligible organizations can now submit applications for the Internal Revenue Service’s Tax Counseling for the Elderly and Volunteer Income Tax Assistance grant programs, allowing some organizations to apply for up to three years of annual funding.

Draft Schedules K-2 and K-3 released to enhance reporting of international tax matters by pass-through entities

IR-2021-98, April 30, 2021 — The Treasury and the IRS released today updated early drafts of new Schedules K-2 and K-3 for Forms 1065, 1120-S, and 8865 for tax year 2021 (filing season 2022).

IRS has options for gig economy workers and those with unemployment benefits

IR-2021-97, April 29, 2021 — The Internal Revenue Service reminds workers in the gig economy and those who claimed unemployment compensation in 2020 of their options and where to find information on meeting their tax obligations.

IRS: Some people get more time to file without asking; anyone else can request an automatic extension

IR-2021-96, April 29, 2021 — Anyone can request an automatic tax-filing extension, but some people get extra time without asking, according to the Internal Revenue Service.

Nearly 2 million more Economic Impact Payments disbursed under the American Rescue Plan; continuing payments reach approximately 163 million

IR-2021-95, April 28, 2021 — Today, the Internal Revenue Service, the U.S. Department of the Treasury, and the Bureau of the Fiscal Service announced they are disbursing nearly 2 million payments in the seventh batch of Economic Impact Payments from the American Rescue Plan.

Electronic options on IRS.gov are available 24/7; save time online for filing information and help

IR-2021-94, April 27, 2021 — The Internal Revenue Service today urged taxpayers and tax professionals to continue using electronic options to speed the processing of tax returns, refunds and payments.

IRS Office of Chief Counsel's first National Virtual Settlement Month successful in resolving almost 150 Tax Court cases

IR-2021-93, April 26, 2021 — Building on the success of Settlement Days and Virtual Settlement Days, the Internal Revenue Service Office of Chief Counsel hosted its first National Virtual Settlement Month in March 2021. The results are impressive.

Two million more Economic Impact Payments disbursed under the American Rescue Plan; total reaches approximately 161 million as payments continue

IR-2021-92, April 22, 2021 — Today, the Internal Revenue Service, the U.S. Department of the Treasury, and the Bureau of the Fiscal Service announced they are disbursing nearly two million payments in the sixth batch of Economic Impact Payments from the American Rescue Plan.

Treasury Department and IRS provide safe harbor for small businesses to claim deductions relating to first-round Paycheck Protection Program loans

IR-2021-91, April 22, 2021 — The Treasury Department and the Internal Revenue Service today issued Revenue Procedure 2021-20 for certain businesses that received first-round Paycheck Protection Program (PPP) loans but did not deduct any of the original eligible expenses because they relied on guidance issued before the enactment of tax relief legislation in December of 2020.

American Rescue Plan tax credits available to small employers to provide paid leave to employees receiving COVID-19 vaccines; new fact sheet outlines details

IR-2021-90, April 21, 2021 — The Internal Revenue Service and the Treasury Department announced today further details of tax credits available under the American Rescue Plan to help small businesses, including providing paid leave for employees receiving COVID-19 vaccinations.

Steer clear of typical tax return errors; May 17 deadline nears

IR-2021-89, April 20, 2021 — The IRS today reminded taxpayers to check their tax returns for common errors that could delay refunds or otherwise affect normal processing.

20-year Exam veteran selected as new Office of Promoter Investigations acting director

IR-2021-88, April 19, 2021 — As part of the continued focus on compliance issues, the IRS announced today the establishment of the IRS Office of Promoter Investigations. The new office will further expand on the efforts of the Promoter Investigations Coordinator that began last summer.

Those experiencing homelessness can get Economic Impact Payments and other tax benefits; permanent address not required

IR-2021-87, April 15, 2021 — The Internal Revenue Service today continued an ongoing effort to help those experiencing homelessness during the pandemic by reminding people who don’t have a permanent address or a bank account that they may still qualify for Economic Impact Payments and other tax benefits.

IRS, Treasury disburse 2 million more Economic Impact Payments under the American Rescue Plan; VA beneficiaries bring total to approximately 159 million as payments continue

IR-2021-86, April 14, 2021 — Today, the Internal Revenue Service, the U.S. Department of the Treasury and the Bureau of the Fiscal Service announced they are disbursing nearly 2 million payments in the fifth batch of Economic Impact Payments from the American Rescue Plan.

IRS Free File can help people who have no filing requirement find overlooked tax credits and get a refund

IR-2021-85, April 13, 2021 — The Internal Revenue Service today urged low- and moderate-income individuals and families, especially those who don’t normally file a tax return, to use IRS Free File to prepare their own federal tax return, e-file it and get a refund – all for free.

IRS suspends requirement to repay excess advance payments of the 2020 Premium Tax Credit; those claiming net Premium Tax Credit must file Form 8962

IR-2021-84, April 9, 2021 — The American Rescue Plan Act of 2021 suspends the requirement that taxpayers increase their tax liability by all or a portion of their excess advance payments of the Premium Tax Credit (excess APTC) for tax year 2020.

IRS reminds foreign bank and financial account holders the FBAR deadline remains April 15

IR-2021-83, April 9, 2021 — The Internal Revenue Service is reminding U.S. citizens, resident aliens and any domestic legal entity that the deadline to file their annual Report of Foreign Bank and Financial Accounts (FBAR) is still April 15, 2021.

IRS urges participants of abusive micro-captive insurance arrangements to exit from arrangements

IR-2021-82, April 9, 2021 — Internal Revenue Service officials today urged participants in abusive micro-captive insurance arrangements to exit these transactions as soon as possible.

IRS reminds U.S. territory residents about U.S. income tax rules relating to pandemic unemployment compensation

IR-2021-81, April 8, 2021 — The Internal Revenue Service reminds eligible residents of the U.S. territories that if they receive unemployment compensation payments that are otherwise subject to U.S. income tax, they may be eligible to exclude up to $10,200 per person of unemployment compensation from U.S. income tax for 2020, following legislation that was passed March 11, 2021.

IRS announces several key executive changes as agency gears up to implement the Taxpayer First Act

IR-2021-80, April 8, 2021 — The Internal Revenue Service today announced several key leadership appointments as work continues implementing major provisions of the Taxpayer First Act.

Treasury, IRS provide guidance on tax relief for deductions for food or beverages from restaurants

IR-2021-79, April 8, 2021 — The Treasury Department and the Internal Revenue Service today issued Notice 2021-25 providing guidance under the Taxpayer Certainty and Disaster Relief Act of 2020.

IRS reminds taxpayers to make April 15 estimated tax payment

IR-2021-78, April 8, 2021 — The Internal Revenue Service today reminded self-employed individuals, retirees, investors, businesses, corporations, and others who pay their taxes quarterly that the payment for the first quarter of 2021 is due Thursday, April 15, 2021.

IRS, Treasury disburse 25 million more Economic Impact Payments under the American Rescue Plan

IR-2021-77, April 7, 2021 — Today, the Internal Revenue Service, the U.S. Department of the Treasury, and the Bureau of the Fiscal Service announced they are disbursing more than 25 million payments in the fourth batch of Economic Impact Payments from the American Rescue Plan.

IRS letters explain why some 2020 Recovery Rebate Credits are different than expected

IR-2021-76, April 5, 2021 — As people across the country file their 2020 tax returns, some are claiming the 2020 Recovery Rebate Credit (RRC). The IRS is mailing letters to some taxpayers who claimed the 2020 credit and may be getting a different amount than they expected.

IRS has refunds totaling $1.3 billion for people who have not filed a 2017 federal income tax return

IR-2021-75, April 5, 2021 — Unclaimed income tax refunds worth more than $1.3 billion await an estimated 1.3 million taxpayers who did not file a 2017 Form 1040 federal income tax return, according to the Internal Revenue Service.

IRS provides guidance for employers claiming the Employee Retention Credit for first two quarters of 2021

IR-2021-74, April 2, 2021 — The Internal Revenue Service today issued guidance for employers claiming the Employee Retention Credit under the Coronavirus Aid, Relief, and Economic Security Act (CARES Act) modified by the Taxpayer Certainty and Disaster Tax Relief Act of 2020 (Relief Act).

Join the Taxpayer Advocacy Panel and help improve the IRS; apply by May 14

IR-2021-73, April 2, 2021 — The Internal Revenue Service today announced it is seeking civic-minded volunteers to serve on the Taxpayer Advocacy Panel (TAP).

IRS, Treasury disburse more Economic Impact Payments under the American Rescue Plan; total tops 130 million with more to come

IR-2021-72, April 1, 2021 — Today, the Internal Revenue Service, the U.S. Department of the Treasury and the Bureau of the Fiscal Service announced they are disbursing several million more payments in the third batch of Economic Impact Payments from the American Rescue Plan.

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