News Releases for December 2017

Notice: Historical Content

This is an archival or historical document and may not reflect current law, policies or procedures.

IRS Issues Guidance on Transition Tax on Foreign Earnings

IR-2017-212, Dec. 29, 2017 - The Treasury Department and the Internal Revenue Service today issued Notice 2018-07, which provides guidance for computing the “transition tax” under recent tax legislation enacted on Dec. 22, 2017.

Get Ready for Taxes: Choosing a Tax Return Preparer?

IR-2017-211, Dec. 28, 2017 – As the tax filing season approaches, the Internal Revenue Service is reminding taxpayers to start thinking about who will prepare their federal tax return.

IRS Advisory: Prepaid Real Property Taxes May Be Deductible in 2017 if Assessed and Paid in 2017

IR-2017-210, Dec. 27, 2017 — The Internal Revenue Service advised tax professionals and taxpayers today that pre-paying 2018 state and local real property taxes in 2017 may be tax deductible under certain circumstances.

IRS Extends Due Date for Employers and Providers to Issue Health Coverage Forms to Individuals in 2018

IR-2017-209, Dec. 22, 2017 ― The IRS announced today that it has extended the 2018 due date for certain entities to provide 2017 health coverage information forms to individuals.

IRS Criminal Investigation Releases Fiscal Year 2017 Annual Report

IR-2017-208, December 20, 2017 - The Internal Revenue Service today announced the release of the Criminal Investigation Division’s (CI) annual report, reflecting significant accomplishments and criminal enforcement actions taken in fiscal year 2017.

IRS: Tax Professionals Need 2018 PTIN; Continuing Education for Annual Filing Season Program Due by Year End

IR-2017-207, Dec. 20, 2017 — The Internal Revenue Service is reminding federal tax return preparers that they must renew their Preparer Tax Identification Numbers (PTIN) that expire Dec. 31, 2017.

Get Ready for Taxes: Filing Electronically a Safe, Easy Way to File

IR-2017-206, Dec. 19, 2017 — The Internal Revenue Service said today that it expects more than 90 percent of all 2017 individual tax returns to be prepared using tax software.

IRS Provides Additional Relief for Partnerships and Certain other Entities

IR-2017- 205, Dec. 14, 2017 — The Internal Revenue Service today issued revised guidance extending relief for certain partnerships, real estate mortgage investment conduits (REMICs), and other entities that did not file the required returns by the new due date for tax years beginning in 2016.

Standard Mileage Rates for 2018 Up from Rates for 2017

Review the 2018 standard mileage rates when using your car for business, charitable, medical or moving purposes.

Consumer Alert: IRS Warns Taxpayers, Tax Pros of New Email Scam Targeting Hotmail Users

IR-2017-203, Dec. 13, 2017 — The Internal Revenue Service today warned taxpayers and tax professionals of a new email scam targeting Hotmail users that is being used to steal personal and financial information.

IRS Provides Safe Harbors to Help Taxpayers Suffering Property Losses, Including Losses from Hurricanes

IR-2017-202, Dec. 13, 2017 – As part of a wider effort to help victims of natural disasters, the Internal Revenue Service today issued guidance providing safe harbor methods that individuals may use in determining the amount of their casualty and theft losses for their homes and personal belongings, including losses from recent hurricanes.

Get Ready for Taxes: What to Do Before the Tax Year Ends Dec. 31

IR-2017-201, Dec. 12, 2017 - As tax filing season approaches, the Internal Revenue Service reminds taxpayers there are things they should do now to get ready for filing season.

Interest Rates Remain the Same for the First Quarter of 2018

IR-2017-200, Dec. 5, 2017 ― The IRS today announced that interest rates will remain the same for the calendar quarter beginning Jan. 1, 2018.

Get Ready for Taxes: Taxpayers with Expiring ITINs Should Submit Renewal Applications by Dec. 31

IR-2017-199, Dec. 5, 2017 - The Internal Revenue Service reminds taxpayers with expiring Individual Taxpayer Identification Numbers (ITINs) to submit their renewal applications as soon as possible. Failing to renew them by the end of the year will cause refund and processing delays in 2018.

National Tax Security Awareness Week No. 5: Small Businesses: Be Alert to Identity Theft

IR-2017-198, Dec. 1, 2017 — The IRS, state tax agencies and the nation’s tax industry joined together to warn small businesses to be on-guard against a growing wave of identity theft against employers.

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