Here you'll find items of current interest — new programs, recent guidance or timely reminders. Tax updates and news from the IRS The Tax updates and news from the IRS page is designed to help anyone whether they are now preparing their tax return or are awaiting processing of a return or refund. It also has the latest updates on IRS letters and notices. Newer updates will be placed at the top of that page. The IRS will also provide critical updates through social media. Reminder to disaster area taxpayers with extensions The IRS reminds disaster-area taxpayers who received disaster 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. Taxpayers should sign up for an IP PIN 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) using IRS Online Account. Signing up early will ensure taxpayers have extra safety by having an IP PIN to electronically file their returns when the filing season begins in 2025. Tax inflation adjustments for tax year 2025 The IRS released the annual inflation adjustments for tax year 2025. Revenue Procedure 2024-40 PDF provides detailed information on adjustments and changes to more than 60 tax provisions that will impact taxpayers when they file their returns in 2026. Watch out for fake charities following natural disasters The IRS cautions taxpayers of scammers who set up fake charities to gather sensitive personal and financial information from unsuspecting donors during natural disasters and other tragic events. Hurricane Milton tax relief available for Florida taxpayers Due to Hurricane Milton, the IRS announced relief for individuals and businesses in 51 counties in Florida. Affected taxpayers in all of Florida now have until May 1, 2025, to file various federal individual and business tax returns and make tax payments, including 2024 individual and business returns normally due during March and April 2025 and 2023 individual and corporate returns with valid extensions and quarterly estimated tax payments. In addition, the IRS 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. This relief is in addition to the limited relief provided in response to Hurricane Helene. The relief begins on Oct. 9, 2024, and will remain in effect through Oct. 30, 2024. IRS accelerates processing of ERC claims The IRS announced continued progress on Employee Retention Credit claims, with processing underway on approximately 400,000 claims, representing about $10 billion of eligible claims. The claims include eligible and ineligible claims, with the majority in this portion being processed for approval. Checks are being mailed for eligible claims with refunds, with more planned in the weeks and months ahead. IRS Direct File expands availability for the 2025 tax filing season IRS 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. Help for victims of Hurricane Helene The IRS 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. As part of efforts to help victims the agency is also taking special steps to provide more than 500 employees to help with FEMA disaster relief call lines and sending IRS Criminal Investigation agents into devastated areas in North Carolina and Florida to help with search and rescue efforts and other relief work. The IRS also announced that it granted dyed diesel penalty relief as a result of Hurricane Helene. The agency 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 several counties in Florida, Tennessee and Virginia. Relief for farmers and ranchers impacted by drought The IRS issued guidance providing tax relief for farmers and ranchers in applicable regions forced to sell or exchange livestock because of drought conditions. The IRS provides this extension to eligible farmers and ranchers if the applicable region is listed as suffering exceptional, extreme or severe drought conditions during any week between Sept. 1, 2023, and Aug. 31, 2024. New relief for taxpayers affected by terrorist attacks in Israel Due to recent terrorist attacks in Israel, the IRS 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. Notice 2024-72 covers similar groups but is separate from Notice 2023-71, which originally provided relief to taxpayers affected by the Oct. 7, 2023, attacks in Israel. Volunteers needed to provide free tax services The Volunteer Income Tax Assistance (VITA) and Tax Counseling for the Elderly (TCE) programs are currently recruiting volunteers across the country for the upcoming filing season. No experience is necessary to become a VITA or TCE volunteer. Free specialized training is provided by the IRS. Available positions are not limited to tax preparation and can include interpreters, greeters and computer specialists. Offer in Compromise "mills" mislead taxpayers Beware of promoters claiming their services are necessary to resolve unpaid taxes owed to the IRS while charging excessive fees, often with no results. These unscrupulous “mills” use aggressive marketing to make false claims of guaranteed settlements for “pennies-on-the-dollar,” or will say there’s a limited window of time to resolve tax debts through the IRS Offer in Compromise (OIC) program.
