News Releases for October 2018

IRS issues proposed regulations reducing potential income inclusions for certain domestic corporations that own stock in foreign corporations

IR-2018-210, Oct. 31, 2018 — The Internal Revenue Service today issued proposed regulations reducing the amount determined under Internal Revenue Code section 956 for certain domestic corporations that own (or are treated as owning) stock in controlled foreign corporations (CFCs).

Get Ready for Taxes: Learn how the new tax law affects tax returns next year

IR-2018- 209, Oct. 30, 2018 — The IRS today advised taxpayers about steps they can take now to ensure smooth processing of their 2018 tax return and avoid surprises when they file next year.

Information Reporting Program Advisory Committee issues 2018 annual report

IR-2018-208, Oct. 24, 2018 — The Information Reporting Program Advisory Committee (IRPAC) today issued its annual report for 2018 including numerous recommendations to the Internal Revenue Service on new and continuing issues in tax administration.

2019 PTIN renewal period underway for tax professionals

IR-2018-207, Oct. 23, 2018 — The IRS today reminded the nation’s more than 768,000 federal tax return preparers that they must renew their Preparer Tax Identification Numbers for 2019.

Treasury, IRS issue proposed regulations on new Opportunity Zone tax incentive

IR-2018-206, October 19, 2018 —The Treasury Department and the Internal Revenue Service today issued proposed regulations and other published guidance for the new Opportunity Zone tax incentive.

Reduced 24-percent withholding rate applies to small businesses and other payers; Revised backup withholding publication features helpful FAQs

IR-2018-205, October 18, 2018 — The Internal Revenue Service today urged small businesses and other payers to check out the agency’s newly-revised backup withholding publication, now available on

Low-income housing units nationwide may be offered to displaced victims of Hurricanes Michael and Florence, other recent disasters

IR-2018-204, Oct. 16, 2018 — The IRS has provided temporary relief from certain requirements of the Internal Revenue Code to allow owners and operators of low-income housing projects located anywhere in the United States and its territories to provide temporary emergency housing to individuals who are displaced by a major disaster from their principal residences, regardless of income.

IRS: Several tax law changes may affect bottom line of many business owners

IR-2018-203, October 16, 2018 — The Internal Revenue Service today reminded business owners that tax reform legislation passed last December affects nearly every business.

IRS extends Oct. 15 and other deadlines for more counties hit by Hurricanes Michael, Florence; Additional areas in Florida, Georgia, North Carolina, South Carolina and Virginia covered

IR-2018-202, October 15, 2018 — After additional disaster declarations by FEMA, the IRS has added more counties that are eligible for individual and public assistance in areas of Florida and Georgia affected by Hurricane Michael.

Seminars from the 2018 IRS Nationwide Tax Forums available online now

IR-2018-201, Oct. 15, 2018 — Tax professionals can earn continuing education credits beginning today with the 2018 launch of the IRS Nationwide Tax Forums Online (NTFO).

IRS announces waiver of dyed fuel penalty in Florida

IR-2018-200, Oct, 15, 2018 — The Internal Revenue Service (IRS), in response to shortages of undyed diesel fuel caused by Hurricane Michael, will not impose a penalty when dyed diesel fuel is sold for use or used on the highway in emergency response vehicles in the State of Florida.

IRS extends Oct. 15 and other upcoming deadlines, provides expanded tax relief for victims of Hurricane Michael

IR-2018-199, Oct. 12, 2018 – Hurricane Michael victims in parts of Florida and elsewhere have until Feb. 28, 2019, to file certain individual and business tax returns and make certain tax payments, the IRS announced today.

Extension filers can still get tax help before Oct. 15 deadline

IR-2018-198, October 10, 2018 — The IRS reminds taxpayers who filed extensions that electronic filing and other options for help with taxes are still available before the Oct. 15 deadline.

IRS to highlight tax reform changes affecting small businesses; Small business owners, self-employed should plan now for new changes

IR-2018-197, Oct. 9, 2018 — With just a few months left in tax year 2018, the IRS today urges small business owners to learn about how the new tax law changes may affect them.

For many business taxpayers, time is running out to elect out of new 100-percent depreciation deduction for 2017

IR-2018-196, Oct. 4, 2018 — The IRS today reminds business taxpayers who placed qualifying property in service during 2017 but choose not to claim the new 100-percent depreciation deduction, that they have a limited time to file the required election with the IRS.

IRS issues guidance on Tax Cuts and Jobs Act changes on business expense deductions for meals, entertainment

IR-2018-195, Oct.3, 2018 — The Internal Revenue Service issued guidance today on the business expense deduction for meals and entertainment following law changes in the Tax Cuts and Jobs Act (TCJA).

Oct. 15 tax-filing extension deadline approaches for millions of taxpayers

IR-2018-194, Oct. 2, 2018 — The IRS today urged taxpayers who requested the six-month filing extension to double check their tax returns and file on or before the mid-October deadline.

News Release and Fact Sheet Archive

Find an archive of news releases and fact sheets from November 2002 and news releases and a listing of fact sheets from 1997.