IRS: Healthcare FSA reminder: Employees can contribute up to $3,300 in 2025; must elect every year IR-2024-287, Nov. 7, 2024 — The Internal Revenue Service reminds taxpayers that during open enrollment season for flexible spending arrangements (FSAs) they may be eligible to use tax-free dollars to pay medical expenses not covered by other health plans. IRS publishes 2024 Financial Report; resolves longstanding significant deficiency IR-2024-286, Nov. 7, 2024 — The Internal Revenue Service today released financial information and highlighted selected accomplishments and challenges in its fiscal year 2024 Financial Report. 401(k) limit increases to $23,500 for 2025, IRA limit remains $7,000 IR-2024-285, Nov. 1, 2024 — The Internal Revenue Service announced today that the amount individuals can contribute to their 401(k) plans in 2025 has increased to $23,500, up from $23,000 for 2024. IRS hires new Associate Chief Counsel to focus on partnerships and other passthrough entities IR-2024-284, Oct. 29, 2024 — The IRS today announced the selection of the first Associate Chief Counsel for the newly created Passthroughs, Trusts and Estates office that will focus exclusively on partnerships, S corporations, trusts and estates. Staffing for this office will be drawn from the current Passthroughs and Special Industries office. National Cybersecurity Awareness Month reminder: IRS and Security Summit supply online safety tips IR-2024-283, Oct. 28, 2024 — As National Cybersecurity Awareness Month concludes and preparation for next tax season begins, the Internal Revenue Service and its Security Summit partners today reminded taxpayers to be wary of online threats like identity theft and fraud. IRS relief now available to flood victims in the Juneau area; multiple deadlines postponed to May 1, 2025 IR-2024-282, Oct. 25, 2024 — The IRS today announced disaster tax relief for individuals and businesses in the Juneau area of Alaska, affected by flooding that began on Aug. 5, 2024. Treasury, IRS issue final regulations for the Advanced Manufacturing Production Credit IR-2024-281, Oct. 24, 2024 — The Department of the Treasury and the Internal Revenue Service today issued final regulations to provide guidance for the Advanced Manufacturing Production Credit established by the Inflation Reduction Act of 2022 (IRA). Treasury and IRS issue guidance for the Energy Efficient Home Improvement Credit IR-2024-280, Oct. 24, 2024 — The Department of the Treasury and the Internal Revenue Service today issued Revenue Procedure 2024-31 and proposed regulations to provide guidance for the energy efficient home improvement credit. IRS reminder to disaster area taxpayers with extensions: Parts of 8 states need to file 2023 returns by Nov. 1; others have until Feb. 3 or May 1 IR-2024-279, Oct. 23, 2024 — Now that the Oct. 15 extension deadline has come and gone, the Internal Revenue Service today reminded disaster-area taxpayers who received extensions to file their 2023 returns that, depending upon their location, their returns are due on Nov. 1, 2024, Feb. 3, 2025, or May 1, 2025. IRS encourages all taxpayers to sign up for an IP PIN for the 2025 tax season IR-2024-278, Oct. 23, 2024 — As the 2025 tax season approaches, the IRS encourages all taxpayers to take an important step to safeguard their identity by signing up for an identity protection personal identification number (IP PIN). Treasury, IRS grant filing exception for tax-exempt organizations from filing new Form 4626, Alternative Minimum Tax - Corporations IR-2024-277, Oct. 23, 2024 — The Department of the Treasury and the Internal Revenue Service today granted a filing exception for tax-exempt organizations; they do not have to file Form 4626, Alternative Minimum Tax – Corporations, for tax year 2023. IRS announces launch of pass-through compliance unit in LB&I; new group brings together teams of specialists from across the agency to tackle large or complex exams IR-2024-276, Oct. 22, 2024 — The IRS today announced the new pass-through field operations unit announced last fall has officially started work in its Large Business and International (LB&I) division to more efficiently conduct audits of pass-through entities. IRS and Treasury issue guidance on implementation of advanced manufacturing investment credit IR-2024-275, Oct. 22, 2024 — The Department of the Treasury and the Internal Revenue Service today issued final regulations that provide guidance regarding the implementation of the Advanced Manufacturing Investment Credit, established by the CHIPS Act of 2022. IRS reminds tax professionals to renew PTINs for 2025 tax season IR-2024-274, Oct. 22, 2024 — The Internal Revenue Service today announced that Preparer Tax Identification Number (PTIN) renewals for 2025 are now being processed. IRS releases tax inflation adjustments for tax year 2025 IR-2024-273, Oct. 22, 2024 — The Internal Revenue Service announced today the annual inflation adjustments for tax year 2025. Treasury, IRS issue guidance for the Sustainable Aviation Fuel Credit IR-2024-272, Oct. 18, 2024 — The Treasury Department and Internal Revenue Service today issued Notice 2024-74 for the Sustainable Aviation Fuel (SAF) credit created by the Inflation Reduction Act. IRS provides free Nov. 18 webinar on Compliance Assurance Process to help large businesses IR-2024-271, Oct. 15, 2024 — The IRS will offer a free webinar to help large business taxpayers understand the Compliance Assurance Process (CAP) by discussing updates and clarifications to the program to better prepare applicants. IRS launches 2024 Nationwide Tax Forum Online: Tax professionals can now access new online seminars IR-2024-270, Oct. 15, 2024 — The Internal Revenue Service today announced the launch of the 2024 Nationwide Tax Forum Online, providing tax professionals access to 18 seminars recorded at this year's IRS Nationwide Tax Forum. IRS warns taxpayers of charity scams following recent hurricanes; provides tools to help people verify legitimate groups IR-2024-269, Oct. 15, 2024 — In the aftermath of Hurricanes Milton and Helene, the Internal Revenue Service today cautioned taxpayers of scammers who use fake charities to gather sensitive personal and financial data from unsuspecting donors. IRS relief now available to Watch Fire victims in the San Carlos Apache Tribe in Arizona; multiple deadlines postponed to Feb. 3, 2025 IR-2024-268, Oct. 11, 2024 — The Internal Revenue Service today announced disaster tax relief for individuals and businesses of the San Carlos Apache Tribe in the state of Arizona affected by the Watch Fire that began on July 10, 2024. IRS announces extension of time for certain applicable entities to make an elective payment election on Form 990-T IR-2024-267, Oct. 11, 2024 — The Internal Revenue Service announced today in Revenue Procedure 2024-39 that grants certain applicable entities that are making an elective payment election a six-month automatic extension of time to file an original or superseding Form 990-T, Exempt Organization Business Income Tax Return, with relevant schedules and forms. IRS help available to victims of Hurricanes Helene and Milton; May 1 deadline now applies to individuals and businesses IR-2024-266, Oct. 11, 2024 — In the wake of the devastating hurricanes that have ravaged Florida and the Southeast in recent weeks, the Internal Revenue Service today reassured victims that it stands ready to provide the tax-related assistance they need to recover from these storms. IRS granting dyed diesel penalty relief as a result of Hurricane Milton IR-2024-265, Oct. 11, 2024 — In response to disruptions resulting from Hurricane Milton, the Internal Revenue Service will not impose a penalty when dyed diesel fuel with a sulfur content that does not exceed 15 parts-per-million is sold for use or used on the highway throughout the state of Florida. IRS provides Hurricane Milton relief; May 1 deadline now applies to individuals and businesses in all of Florida; many businesses qualify for deposit penalty relief IR-2024-264, Oct. 11, 2024 — Due to Hurricane Milton, the Internal Revenue Service today announced relief for individuals and businesses in 51 counties in Florida. IRS accelerates work on Employee Retention Credit claims; agency currently processing 400,000 claims worth about $10 billion IR-2024-263, Oct. 10, 2024 —The IRS announced today continued progress on Employee Retention Credit claims, with processing underway on about 400,000 claims, representing about $10 billion of eligible claims. IRS releases 2022 tax gap projections; voluntary compliance rate among taxpayers remains steady IR-2024-262, Oct. 10, 2024 — The Internal Revenue Service today released the tax gap projections for tax year 2022, a detailed analysis showing the nation’s projected gross tax gap at $696 billion. This reflects the difference between projected ‘true’ tax liability and the amount of tax that is actually paid on time. Treasury and IRS issue proposed regulations providing clarity regarding the federal tax classification of entities entirely owned by Tribal governments IR-2024-261, Oct. 7, 2024 — The Department of the Treasury and the IRS today issued proposed regulations addressing the federal tax classification of corporations or LLCs that are owned entirely by Indian Tribal governments (Tribes) and formed under the laws of the Tribes that own them. Generally, entities formed under the laws of a Tribe are known as Tribal law entities. IRS reminds taxpayers of Oct. 15 tax-filing extension deadline; combat zones, disaster areas, Israel have more time IR-2024-260, Oct. 7, 2024 — The Internal Revenue Service today encouraged taxpayers to file their 2023 tax year federal income tax return on or before the upcoming Tuesday, Oct. 15, 2024, deadline to avoid possible late filing penalties. Treasury and IRS issue final regulations identifying syndicated conservation easement transactions as abusive tax transactions IR-2024-259, October 7, 2024 — The Department of the Treasury and the Internal Revenue Service today issued final regulations identifying certain syndicated conservation easement transactions as "listed transactions" – abusive tax transactions that must be reported to the IRS. IRS Direct File set to expand availability in a dozen new states and cover wider range of tax situations for the 2025 tax filing season IR-2024-258, Oct. 3, 2024 — The Internal Revenue Service announced today that Direct File will be available for the 2025 tax filing season in double the number of states than last year’s pilot, and it will cover a wider range of tax situations, greatly expanding the number of taxpayers eligible to use the free e-filing service. Treasury and IRS issue guidance on long-term, part-time employees in 403(b) retirement plans and announce delayed applicability date for related final 401(k) regulation IR-2024-257, Oct. 3, 2024 — The Department of the Treasury and the Internal Revenue Service today issued guidance addressing long-term, part-time employees in 403(b) retirement plans under the SECURE 2.0 Act, which applies to 403(b) plans beginning in 2025. IRS relief now available to wildfire victims in parts of Washington; multiple deadlines postponed to Feb. 3, 2025 IR-2024-256, Oct. 3, 2024 — The Internal Revenue Service today announced disaster tax relief for individuals and businesses in the Confederated Tribes and Bands of the Yakama Nation in Washington state affected by wildfires that began on June 22, 2024. IRS employees help Hurricane Helene efforts; 500 phone assistors supporting FEMA, Criminal Investigation agents work on rescue efforts in North Carolina, Florida IR-2024-255, Oct. 2, 2024 — As part of efforts to help victims of Hurricane Helene, the Internal Revenue Service is taking special steps to provide more than 500 employees to help with the Federal Emergency Management Agency’s (FEMA) disaster relief call lines and sending IRS Criminal Investigation (IRS-CI) agents into devastated areas to help with search and rescue efforts and other relief work. IRS granting dyed diesel penalty relief as a result of Hurricane Helene IR-2024-254, Oct. 1, 2024 — In response to disruptions resulting from Hurricane Helene, the Internal Revenue Service will not impose a penalty when dyed diesel fuel with a sulfur content that does not exceed 15 parts-per-million is sold for use or used on the highway throughout Alabama, Georgia, North Carolina, and South Carolina and in the following counties in Florida, Tennessee and Virginia. IRS provides relief for Helene; various deadlines postponed to May 1, 2025; part or all of 7 states qualify IR-2024-253, Oct. 1, 2024 — The Internal Revenue Service today announced disaster tax relief for all individuals and businesses affected by Hurricane Helene, including the entire states of Alabama, Georgia, North Carolina and South Carolina and parts of Florida, Tennessee and Virginia. IRS announces new relief for taxpayers affected by terrorist attacks in Israel: 2023 and 2024 returns and payments are now due Sept. 30, 2025; other relief available IR-2024-252, Oct. 1, 2024 — The Internal Revenue Service announced today that due to recent terrorist attacks in Israel, the agency is providing additional tax relief to affected individuals and businesses, postponing until Sept. 30, 2025, a wide range of deadlines for filing federal returns, making tax payments and performing other time-sensitive tax-related actions. Volunteers needed across the country to provide free tax services; sign up from Oct. to Jan. for the upcoming filing season IR-2024-251, Oct. 1, 2024 — The Volunteer Income Tax Assistance (VITA) and Tax Counseling for the Elderly (TCE) programs are currently recruiting volunteers for the upcoming filing season. IRS relief now available to storm victims in parts of Illinois; multiple deadlines postponed to Feb. 3, 2025 IR-2024-250, Oct. 1, 2024 — The Internal Revenue Service today announced disaster tax relief for individuals and businesses in parts of Illinois affected by severe storms, tornadoes, straight-line winds and flooding that began on July 13, 2024. News release and fact sheet archive Find previous year news releases and fact sheets from 1997 through last month.