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 and the latest updates on IRS letters, or notices. Newer updates will be placed at the top of that page; the IRS will also provide critical updates through social media. Misleading claims about non-existent “Self Employment Tax Credit” The IRS issued a consumer alert following bad advice circulating on social media about a non-existent “Self Employment Tax Credit” that’s misleading taxpayers into filing false claims. Promoters and social media are marketing inaccurate information suggesting many people qualify for the tax credit and payments of up to $32,000 when they actually do not. Taxpayers are urged to talk to a trusted tax professional and not rely on marketers or social media for tax advice. IRS collects $1 billion in past-due taxes from millionaires As part of continuing compliance efforts under the Inflation Reduction Act, the IRS announced the agency has surpassed the $1 billion mark in collections from high-wealth taxpayers with past-due taxes. The agency's compliance effort has generated more than $1 billion in collections from this group, with work continuing in this area. Scams targeting car dealers and sellers The IRS is warning individuals and businesses to remain vigilant against evolving phishing and smishing scams that could impact day-to-day operations of the business. The IRS urges car dealerships to be extra cautious about unsolicited messages and avoid clicking any links in an unsolicited email or text if they are uncertain. Scams and inaccurate social media advice: Frequently asked questions The IRS issued frequently asked questions involving a series of scams and inaccurate social media advice. Social media schemes led to thousands of inflated refund claims during the past tax season. Taxpayers are warned to not fall for these scams centered around the Fuel Tax Credit, the Sick and Family Leave Credit, and household employment taxes. Clean energy tax credit scams The IRS warns taxpayers not to fall victim to a new emerging scam involving buying clean energy tax credits. The IRS is seeing instances where unscrupulous tax return preparers are misrepresenting the rules for claiming clean energy credits under the Inflation Reduction Act (IRA). Individual taxpayers considering purchasing clean energy credits under the IRA should consult a trusted tax professional for advice on whether they are eligible to purchase credits and claim the tax benefits. Protect Your Clients; Protect Yourself summer series With new and evolving scams emerging, the IRS and the Security Summit partners announced the start of the special summer Protect Your Clients; Protect Yourself campaign to help tax professionals protect themselves against new and ongoing threats involving tax-related identity theft. Check the status of your refund Taxpayers can track their refund easily and conveniently with the IRS Where's my refund? tool at IRS.gov/refunds and with the IRS2Go app. Refund status is available within 24 hours of the IRS letting the taxpayer know that they got the e-filed return. The tool also gives the taxpayer a personalized refund date after the IRS processes the return and approves the refund.
