IRS takes next step on abusive micro-captive transactions; nearly 80 percent accept settlement, 12 new audit teams established IR-2020-26, January 31, 2020 — The Internal Revenue Service announced today the overwhelming acceptance of a time-limited settlement offer made to certain taxpayers under audit who participated in abusive micro-captive insurance transactions. IRS revises Form 1023 for applying for tax-exempt status IR-2020-25, January 31, 2020 — As part of an ongoing effort to improve service for the tax-exempt community, the Internal Revenue Service has revised Form 1023 to allow electronic filing for the first time starting later this month. New Form 1040-SR, alternative filing option available for seniors IR-2020-24, January 30, 2020 ― The Internal Revenue Service wants seniors to know about the availability of a new tax form, Form 1040-SR, featuring larger print and a standard deduction chart with a goal of making it easier for older Americans to read and use. IRS outlines new tax law effect on tax exempt organizations IR-2020-23, January 28, 2020 — The Internal Revenue Service wants tax-exempt organizations to know about recent tax law changes that might affect them. IRS, partners nationwide mark Jan. 31 as "EITC Awareness Day" IR-2020-22, January 28, 2020 − The Internal Revenue Service and its partners nationwide remind taxpayers about the Earned Income Tax Credit on Jan. 31, “EITC Awareness Day.” IRS: Jan. 31 filing deadline for employers, other businesses to file wage statements, independent contractor forms IR-2020-21, January 28, 2020 — With just a few days remaining until the deadline, the Internal Revenue Service reminds employers and other businesses that January 31 is the filing deadline for submitting wage statements and forms for independent contractors with the government. IRS kicks off 2020 tax filing season with returns due April 15; help available on IRS.gov for fastest service IR-2020-20, January 27, 2020 ― The Internal Revenue Service successfully opened the 2020 tax filing season today as the agency begins accepting and processing federal tax returns for tax year 2019. IRS provides relief to financial institutions affected by tax law change raising the age for required minimum distributions IR-2020-19, January 27, 2020 — The Internal Revenue Service has provided relief to financial institutions that were expected to provide required minimum distribution (RMD) statements to IRA owners by January 31, 2020. Global tax chiefs undertake unprecedented multi-country day of action to tackle international tax evasion IR-2020-18, January 23, 2020 — A globally coordinated day of action to put a stop to the suspected facilitation of offshore tax evasion has been undertaken this week across the United Kingdom (UK), United States (US), Canada, Australia and the Netherlands. IRS: Don’t be victim to "ghost" tax return preparers IR-2020-17, January 22, 2020 — With the start of the 2020 tax filing season near, the Internal Revenue Service is reminding taxpayers to avoid unethical “ghost” tax return preparers. IRS willing to consider requests for relief from double taxation related to repatriation IR-2020-16, January 17, 2020 — The IRS announced today that the agency has become aware of limited circumstances in which it may be appropriate to provide relief from double taxation resulting from application of the repatriation tax under section 965, as amended by the Tax Cuts and Jobs Act (TCJA). IRS Free File can save families money; find tax benefits all for free IR-2020-15, January 17, 2020 — IRS Free File can save families, especially those with children, some money in 2020 plus find tax benefits such as the Earned Income Tax Credit. Free File is now available at IRS.gov/freefile. Get up-to-date information this tax filing season with redesigned IRS e-News Subscriptions IR-2020-14, January 16, 2020 — As the 2020 tax season approaches, the IRS today encouraged taxpayers, businesses, tax professionals and others to take advantage of a variety of improved e-mail subscription services. IRS: Most taxpayers eligible for free federal and free state tax return preparation IR-2020-13, January 16, 2020 — Most taxpayers can do both their federal and state tax returns for free online through Free File offered either by the IRS or by states that have a similar public-private partnership. IRS to restore sequestered funds (AMT only) this fiscal year to businesses affected by OMB determination IR-2020-12, January 16, 2020 — The Internal Revenue Service today announced it will return sequestered funds to businesses that were affected by a recent Office of Management and Budget (OMB) determination regarding the Balanced Budget and Emergency Deficit Control Act of 1985, as amended. IRS and Treasury issue guidance for students with discharged student loans and their creditors IR-2020-11, January 15, 2020 — The IRS and Department of the Treasury issued Revenue Procedure 2020-11 that establishes a safe harbor extending relief to additional taxpayers who took out federal or private student loans to finance attendance at a nonprofit or for-profit school. IRS Free File helps seniors and retirees do their taxes for free IR-2020-10, January 15, 2020 — Seniors and retirees whose income is under $69,000 a year should explore IRS Free File for free online tax preparation. Improved Tax Withholding Estimator helps workers target the refund they want; shows how to fill out new 2020 W-4 IR-2020-09, January 14, 2020 — The Internal Revenue Service has launched a new and improved Tax Withholding Estimator, designed to help workers target the refund they want by having the right amount of federal income tax taken out of their pay. IRS Free File: Ideal for young and first-time filers IR-2020-08, January 14, 2020 — Filing taxes for the first time or working part-time? IRS Free File may be the perfect match for people looking to save money on federal tax preparation. IRS Free File offers free tax prep options for military personnel IR-2020-07, January 13, 2020 – The Internal Revenue Service today reminded active duty military personnel that IRS Free File offers them multiple options for free federal tax preparation. IRS Free File opens today; do taxes online for free IR-2020-06, January 10, 2020 – Most taxpayers can get an early start on their federal tax returns as IRS Free File – featuring brand-name online tax providers − opens today at IRS.gov/freefile for the 2020 tax filing season. Direct deposit fastest way to receive federal tax refund IR-2020-05, January 9, 2019 — With tax season beginning soon, the IRS reminds taxpayers that choosing to have their tax refund directly deposited into their checking or savings account is the fastest way to get their money. IRS helps workers, businesses with new Gig Economy Tax Center IR-2020-04, January 9, 2020 — The Internal Revenue Service this week launched a new Gig Economy Tax Center on IRS.gov to help people in this growing area meet their tax obligations through more streamlined information. National Taxpayer Advocate delivers Annual Report to Congress IR-2020-03, January 8, 2020 — Acting National Taxpayer Advocate Bridget Roberts today released her 2019 Annual Report to Congress. Key challenges highlighted in the report include implementation of the Taxpayer First Act, inadequate taxpayer service and limited funding of the agency. IRS opens 2020 filing season for individual filers on Jan. 27 IR-2020-02, January 6, 2020 — The Internal Revenue Service confirmed that the nation’s tax season will start for individual tax return filers on Monday, January 27, 2020, when the tax agency will begin accepting and processing 2019 tax year returns. IRS issues 2019 annual report; highlights program areas across the agency IR-2020-01, January 6, 2020 — The Internal Revenue Service today released a new annual report highlighting accomplishments across the nation's tax agency during Fiscal Year 2019. News Release and Fact Sheet Archive Find previous year news releases and fact sheets from 1997 through last month.