News Releases for May 2020

Treasury, IRS provide regulations to help businesses claim credits for carbon capture

IR-2020-108, May 28, 2020 — The Treasury Department and the Internal Revenue Service today issued proposed regulations to help businesses understand how legislation passed in 2018 may benefit those claiming carbon capture credits.

IRS announces Form 1040-X electronic filing options coming this summer; major milestone reached for electronic returns

IR-2020-107, May 28, 2020 — The Internal Revenue Service announced today that later this summer taxpayers will for the first time be able to file their Form 1040-X, Amended U.S Individual Income Tax Return, electronically using available tax software products.

Treasury, IRS provide safe harbor for taxpayers that develop renewable energy projects

IR-2020-106, May 27, 2020 — The Treasury Department and the Internal Revenue Service today provided tax relief for taxpayers that develop renewable energy projects that produce electricity from sources such as wind, biomass, geothermal, landfill gas, trash, and hydropower, and use technologies such as solar panels, fuel cells, microturbines, and combined heat and power systems.

Economic Impact Payments being sent by prepaid debit cards, arrive in plain envelope; IRS.gov answers frequently asked questions

IR-2020-105, May 27, 2020 – As Economic Impact Payments continue to be successfully delivered, the Internal Revenue Service today reminds taxpayers that some payments are being sent by prepaid debit card.

IRS provides guidance on income tax withholding on certain periodic retirement and annuity payments

IR-2020-104, May 27, 2020 — The U.S. Department of the Treasury and the Internal Revenue Service today issued a proposed regulation updating the federal income tax withholding rules for periodic retirement and annuity payments made after December 31, 2020.

Treasury, IRS issue final regulations providing relief for certain tax-exempt organizations

IR-2020-103, May 26, 2020 — The Department of the Treasury and the Internal Revenue Service today issued final regulations clarifying the reporting requirements generally applicable to tax-exempt organizations.

IRS Fraud Enforcement Program adds Schenck as National Fraud Counsel

IR-2020-102, May 26, 2020 — The Internal Revenue Service has named attorney Carolyn Schenck as the National Fraud Counsel serving the agency’s new Fraud Enforcement Program.

Treasury, IRS release latest state-by-state Economic Impact Payment figures for May 22, 2020

IR-2020-101, May 22, 2020 — The Treasury Department and the IRS today released updated state-by-state figures for Economic Impact Payments reflecting the opening weeks of the program.

IRS Nationwide Tax Forums go virtual in 2020

IR-2020-100, May 21, 2020 — The IRS today announced the 2020 IRS Nationwide Tax Forums will be held virtually in 2020 with a series of live-streamed webinars beginning this July.

IRS.gov helps taxpayers get tax information they need; find tools for filing, paying, checking accounts and answering questions

IR-2020-99, May 21, 2020 — The IRS reminds taxpayers today about several online tools available to help them get the tax information they need as the IRS has limited operations due to the coronavirus.

Andy Keyso named Chief of IRS Independent Office of Appeals

IR-2020-98, May 20, 2020 — The Internal Revenue Service announced today that Andy Keyso has been selected to serve as the Chief of the IRS Independent Office of Appeals.

IRS adds phone operators to answer Economic Impact Payment questions

IR-2020-97, May 18, 2020 — Today, the Internal Revenue Service is starting to add 3,500 telephone representatives to answer some of the most common questions about Economic Impact Payments.

IRS expands partner materials for Economic Impact Payments; continues sweeping effort to share details in multiple languages

IR-2020-96, May 15, 2020 — The Internal Revenue Service announced today the availability of additional material for partner groups sharing information related to Economic Impact Payments, including a new toolkit in Spanish and a variety of other print and visual items available.

IRS provides tax relief through increased flexibility for taxpayers in section 125 cafeteria plans

IR-2020-95, May 12, 2020 — The Internal Revenue Service today released guidance to allow temporary changes to section 125 cafeteria plans.

IRS provides guidance on the deductibility and reporting of certain amounts paid to, or at the direction of, governments

IR-2020-94, May 12, 2020 — The Internal Revenue Service today issued proposed regulations under the Tax Cuts and Jobs Act (TCJA) that provide guidance to taxpayers and governments with respect to fines, penalties and certain other amounts.

Why the Economic Impact Payment amount could be different than anticipated

IR-2020-93, May 11, 2020 — The IRS and Treasury have successfully delivered nearly 130 million Economic Impact Payments to Americans in less than a month, and more are on the way.

Act by Wednesday for chance to get quicker Economic Impact Payment; timeline for payments continues to accelerate

IR-2020-92, May 8, 2020 — With a variety of steps underway to speed Economic Impact Payments, the Treasury Department and the Internal Revenue Service urged people to use Get My Payment by noon Wednesday, May 13, for a chance to get a quicker delivery.

Treasury, IRS release latest state-by-state Economic Impact Payment figures

IR-2020-91, May 8, 2020 — The Treasury Department and the Internal Revenue Service today released updated state-by-state figures for Economic Impact Payments, with approximately 130 million individuals receiving payments worth more than $200 billion in the program’s first four weeks.

IRS provides guidance for estates and trusts for itemizing deductions

IR-2020-90, May 7, 2020 — The Internal Revenue Service today issued proposed regulations that provide guidance for estates and trusts clarifying that certain deductions of estates and non-grantor trusts are not miscellaneous itemized deductions.

IRS: Three new credits are available to many businesses hit by COVID-19

IR-2020-89, May 7, 2020 — The Internal Revenue Service today reminds employers affected by COVID-19 about three important new credits available to them.

IRS seeking applications for TCE and VITA grants

IR-2020-88, May 6, 2020 — The IRS is accepting applications for the Tax Counseling for the Elderly (TCE) and Volunteer Income Tax Assistance (VITA) grant programs, which will allow some organizations to apply for annual funding for up to three years.

IRS retools Settlement Days program in response to COVID-19 pandemic; allows unrepresented taxpayers to settle their cases virtually and reach finality

IR-2020-87, May 5, 2020 – The Internal Revenue Service Office of Chief Counsel today announced the Settlement Days program will continue remotely enabling unrepresented taxpayers to work towards resolving their pending United States Tax Court case despite "stay-at-home" orders in many jurisdictions.

VA, SSI recipients with eligible children need to act by Tuesday, May 5 to quickly add money to their automatic Economic Impact Payment; ‘Plus $500 Push’ continues

IR-2020-86, May 1, 2020 — The Internal Revenue Service today reminded Supplemental Security Income and Department of Veterans Affairs beneficiaries to act by Tuesday, May 5 if they didn’t file a tax return in 2018 or 2019 and have dependents so they can quickly receive the full amount of their Economic Impact Payment.

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