News Releases for June 2020

Taxpayers should file by July 15 tax deadline; automatic extension to Oct. 15 available

IR-2020-134, June 29, 2020 ― The Department of the Treasury and IRS today announced the tax filing and payment deadline of July 15 will not be postponed. Individual taxpayers unable to meet the July 15 due date can request an automatic extension of time to file until Oct. 15.

IRS releases new Data Book with redesigned, expanded format to provide more detailed view of service, compliance activities in FY 2019

IR-2020-133, June 29, 2020 — The Internal Revenue Service today unveiled the 2019 IRS Data Book, featuring a redesigned format that provides a different and expanded look at IRS accomplishments during the past year.

National Taxpayer Advocate Erin Collins delivers her first report to Congress; identifies COVID-19 challenges, CARES Act, and Taxpayer First Act implementation as priority issues for taxpayers

IR-2020-132, June 29, 2020 ― National Taxpayer Advocate Erin M. Collins today released her first report to Congress, identifying taxpayer challenges arising from the COVID-19 pandemic, the Coronavirus Aid, Relief, and Economic Security (CARES) Act, and the IRS’s implementation of the Taxpayer First Act as priority issues the Taxpayer Advocate Service (TAS) plans to focus on in the coming year.

IRS: July 15 tax payment deadline approaching; plan on scheduling multiple payments now

IR-2020-131, June 26, 2020 ― As the 2019 tax filing and payment deadline approaches, the IRS reminds taxpayers and businesses that 2019 income tax liabilities as well as postponed April 15 and June 15, 2020 estimated tax payments are due July 15, 2020.

IRS offers settlement for syndicated conservation easements; letters being mailed to certain taxpayers with pending litigation

IR-2020-130, June 25, 2020 — The Internal Revenue Service Office of Chief Counsel announced today a time-limited settlement offer to certain taxpayers with pending docketed Tax Court cases involving syndicated conservation easement transactions.

Electronic Tax Administration Advisory Committee releases annual report to Congress

IR-2020-129, June 24, 2020 — The Electronic Tax Administration Advisory Committee (ETAAC) today released its annual report to Congress, featuring recommendations that focus on the prevention of identity theft and refund fraud.

IRS finalizes guidance for the section 199A deduction for shareholders of Regulated Investment Companies

IR-2020-128, June 24, 2020 — The Internal Revenue Service today issued final regulations permitting a regulated investment company (RIC) that receives qualified real estate investment trust (REIT) dividends to report dividends the RIC pays to its shareholders as section 199A dividends.

IRS announces rollover relief for required minimum distributions from retirement accounts that were waived under the CARES Act

IR-2020-127, June 23, 2020 — The Internal Revenue Service today announced that anyone who already took a required minimum distribution (RMD) in 2020 from certain retirement accounts now has the opportunity to roll those funds back into a retirement account following the CARES Act RMD waiver for 2020.

IRS extends July 15, other upcoming deadlines for tornado victims in parts of the South; provides other relief

IR-2020-126, June 23, 2020 — Victims of the April tornadoes, severe storms and flooding that took place in parts of Mississippi, Tennessee and South Carolina will have until October 15, 2020, to file various individual and business tax returns and make tax payments, the Internal Revenue Service announced today.

IRS issues guidance on the elimination of the deduction of qualified transportation fringe benefit expenses

IR-2020-125, June 19, 2020 — The Internal Revenue Service today issued proposed regulations that provide guidance for the deduction of qualified transportation fringe and commuting expenses.

Relief for taxpayers affected by COVID-19 who take distributions or loans from retirement plans

IR-2020-124, June 19, 2020 — The Internal Revenue Service today released Notice 2020-50 to help retirement plan participants affected by the COVID-19 coronavirus take advantage of the CARES Act provisions providing enhanced access to plan distributions and plan loans.

IRS Nationwide Tax Forums: Seminar dates, times now available

IR-2020-123, June 18, 2020 — The Internal Revenue Service today released the seminar schedule for the 2020 IRS Nationwide Tax Forums and reminded interested tax professionals that registration information is available.

IRS outlines changes to health care spending available under CARES Act

IR-2020-122, June 17, 2020 — The Internal Revenue Service has advised that new rules under the CARES Act provide flexibility for health care spending that may be helpful in the current environment where more people may need at-home services due to measures to fight the coronavirus.

IRS alert: Economic Impact Payments belong to recipient, not nursing homes or care facilities

IR-2020-121, June 16, 2020 — The Internal Revenue Service today alerted nursing home and other care facilities that Economic Impact Payments (EIPs) generally belong to the recipients, not the organizations providing the care.

Treasury, IRS provide tax relief to investors and businesses affected by COVID-19 in new markets tax credit transactions

IR-2020-120, June 12, 2020 — The Treasury Department and the Internal Revenue Service today provided tax relief for certain taxpayers affected by the COVID-19 pandemic involved in new markets tax credit transactions.

IRS provides guidance on employer leave-based donation programs that aid victims of the COVID-19 pandemic

IR-2020-119, June 11, 2020 — The Internal Revenue Service today provided guidance for employers whose employees forgo sick, vacation or personal leave because of the COVID-19 pandemic.

IRS reminder: File now, choose direct deposit or schedule tax payments electronically before the July 15 deadline

IR-2020-118, June 11, 2020 — As the July 15 tax-filing deadline − postponed from April 15 − draws near, the IRS is reminding all taxpayers who have yet to file their 2019 federal tax return to file electronically now, choose direct deposit for their refund, or pay any tax owed electronically.

IRS reminder: Deadline postponed to July 15 for those who pay estimated taxes

IR-2020-117, June 9, 2020 — The Internal Revenue Service reminds taxpayers that estimated tax payments for tax year 2020, originally due April 15 and June 15, are now due July 15.

Proposed regulations address direct primary care arrangements and health care sharing ministry memberships

IR-2020-116, June 8, 2020 — The Internal Revenue Service today released proposed regulations addressing the treatment of certain medical care arrangements under section 213 of the Internal Revenue Code.

IRS warns against COVID-19 fraud; other financial schemes

IR-2020-115, June 8, 2020 — The Internal Revenue Service today reminded taxpayers to guard against tax fraud and other related financial scams related to COVID-19.

IRS provides answers about Coronavirus related tax relief for Qualified Opportunity Funds and investors

IR-2020-114, June 4, 2020 — The IRS today provided guidance for Qualified Opportunity Funds (QOFs) and their investors in response to the ongoing Coronavirus Disease 2019 (COVID-19) pandemic.

Interest rates decrease for the third quarter of 2020

IR-2020-113, June 4, 2020 — The Internal Revenue Service today announced that interest rates will decrease for the calendar quarter beginning July 1, 2020.

IRS Chief Counsel goes virtual with national Settlement Days; Helps dozens of taxpayers settle their Tax Court cases

IR-2020-112, June 4, 2020 — The Internal Revenue Service Office of Chief Counsel is expanding its Virtual Settlement Days program after the tremendous success achieved by three offices that took Settlement Days events virtual in May 2020.

159 million Economic Impact Payments processed; Low-income people and others who aren’t required to file tax returns can quickly register for payment with IRS Non-Filers tool

IR-2020-111, June 3, 2020 — With 159 million Economic Impact Payments processed, the Internal Revenue Service reminds many low-income Americans who don’t usually file tax returns to register for a payment by October 15.

IRS provides relief to retirement plan participants to sign elections remotely

IR-2020-110, June 3, 2020 — The Internal Revenue Service today provided temporary administrative relief to help certain retirement plan participants or beneficiaries who need to make participant elections by allowing flexibility for remote signatures.

IRS reminder: June 15 tax deadline postponed to July 15 for taxpayers who live and work abroad

IR-2020-109, June 2, 2020 — The Internal Revenue Service today reminded people who live and work abroad that they have until Wednesday, July 15, 2020, to file their 2019 federal income tax return and pay any tax due. The usual deadline is June 15.

News Release and Fact Sheet Archive

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