News Releases for October 2020

IRS: People with foreign accounts reminded of the extension to file 2019 FBAR by Oct. 31, Dec. 31 if impacted by certain natural disasters

IR-2020-247, October 28, 2020 — The Internal Revenue Service reminds U.S. citizens, entities and resident aliens with a foreign bank or financial account that they have until October 31, 2020, to file their 2019 Report of Foreign Bank and Financial Accounts (FBAR).

Circular 230, Publication 947 available in Spanish for tax pros for the first time

IR-2020-246, October 27, 2020 — As part of an ongoing initiative to provide information and assistance to underserved communities more effectively, the Internal Revenue Service announced today that it is making two key publications designed for tax professionals available in Spanish.

IRS provides tax inflation adjustments for tax year 2021

IR-2020-245, October 26, 2020 — The Internal Revenue Service today announced the tax year 2021 annual inflation adjustments for more than 60 tax provisions, including the tax rate schedules and other tax changes. Revenue Procedure 2020-45 provides details about these annual adjustments.

Income ranges for determining IRA eligibility change for 2021

IR-2020-244, October 26, 2020 — The Internal Revenue Service announced cost of living adjustments affecting dollar limitations for pension plans and other retirement-related items for tax year 2021 in Notice 2020-79, posted today on IRS.gov.

IRS reminds businesses to e-file payroll tax returns

IR-2020-243, October 26, 2020 — The next quarterly payroll tax return due date is October 31, and the Internal Revenue Service urges business owners to use the speed and convenience of filing the returns electronically. Deposits made by Monday, November 2, however, would still be considered timely as October 31 is a Saturday.

To help non-filers, IRS sets Nov. 10 as ‘National EIP Registration Day;’ Register at IRS.gov for Economic Impact Payment

IR-2020-242, October 23, 2020 — The IRS today set November 10 as “National EIP Registration Day,” as the agency and partners across the country launch a final push to encourage everyone who doesn’t normally file a tax return to register to receive an Economic Impact Payment.

IRS offers new stricter settlement for micro-captive insurance schemes; offer letters being mailed to groups under audit

IR-2020-241, October 22, 2020 — The Internal Revenue Service announced today a second time-limited settlement initiative for certain taxpayers under audit who participated in abusive micro-captive insurance transactions.

IRS releases draft Form 1065 instructions on partner tax basis capital reporting

IR-2020-240, October 22, 2020 — The IRS released today an early draft of the instructions to Form 1065, U.S. Return of Partnership Income, for tax year 2020 (filing season 2021) that include revised instructions for partnerships required to report capital accounts to partners on Schedule K-1 (Form 1065).

IRS announces 2021 Tax Counseling for the Elderly and Volunteer Income Tax Assistance Program Grants

IR-2020-239, October 21, 2020 — The Internal Revenue Service recently awarded over $36 million in Tax Counseling for the Elderly and Volunteer Income Tax Assistance grants to organizations that provide free federal tax return preparation.

IRS reminds tax professionals to renew PTINs now for 2021

IR-2020-238, October 20, 2020 — The Internal Revenue Service reminds the nation’s more than 780,000 active tax return preparers to start the upcoming 2021 filing season smoothly by renewing their Preparer Tax Identification Numbers (PTINs) now. All current PTINs will expire December 31, 2020.

Sở Thuế Vụ áp dụng chương trình giảm nhẹ gánh nặng thuế cho nạn nhân các vụ cháy rừng vào tháng Chín ở California; Hạn chót là ngày 10/15, và các thời hạn khác được gia hạn đến ngày 01/15

IR-2020-237, ngày 10/19/2020 — Hôm nay, Sở Thuế Vụ thông báo rằng nạn nhận các vụ cháy rừng ở California xảy ra từ ngày 9/4 nay được lùi thời hạn đến ngày 01/15/2021 để nộp tờ khai thuế cá nhân và doanh nghiệp khác nhau và chi trả thuế.

Sở Thuế Vụ áp dụng chương trình giảm nhẹ gánh nặng thuế cho nạn nhân bão Delta; Hạn chót ngày 10/15, và các thời hạn khác được gia hạn đến ngày 02/16

IR-2020-236, ngày 10/19/2020 — Hôm nay, Sở Thuế Vụ thông báo rằng các nạn nhân bão Delta mà khởi phát từ ngày 10/06 nay được lùi thời hạn đến ngày 02/16/2021 để khai các tờ khai thuế cá nhân và doanh nghiệp khác nhau và chi trả thuế.

IRS fights fraud aimed at charities, joins international awareness week

IR-2020-235, October 19, 2020 — The Internal Revenue Service is combating fraud by once again joining organizations around the world to highlight the third annual International Charity Fraud Awareness Week, October 19-23.

Online seminars from 2020 IRS Nationwide Tax Forums now available

IR-2020-234, October 13, 2020 — The Internal Revenue Service today announced 18 new seminars from the 2020 Nationwide Tax Forums are now available on IRS Nationwide Tax Forums Online. The cost is $29 per seminar.

Sở Thuế Vụ bổ sung kỹ thuật QR vào các thông báo đến hạn trả nợ thuế chính để hỗ trợ người đóng thuế

IR-2020-233, ngày 10/9/2020 - WASHINGTON - Lần đầu tiên Sở Thuế Vụ bổ sung kỹ thuật mã vạch vào các thông báo gửi đến hàng triệu người đóng thuế.

Sở Thuế Vụ: Hãy kiểm tra các khoản khấu trừ thuế ngay bây giờ do quý cuối cùng của năm 2020 đã bắt đầu

IR-2020-232, ngày 9 tháng Mười, 2020 — Sở Thuế Vụ hôm nay đã nhắc những người đóng thuế rằng bây giờ là thời điểm hoàn hảo để xem xét việc khấu trừ thuế và các khoản chi trả của họ để tránh bị bất ngờ khi khai thuế vào năm tới.

October 15 deadline nears for taxpayers who requested tax filing extensions

IR-2020-231, October 7, 2020 — The Internal Revenue Service today reminds taxpayers who filed an extension that the October 15 due date to file their 2019 tax return is near.

IRS Free File marks record increase; available through Oct. 15

IR-2020-230, October 6, 2020 — The Internal Revenue Service announced today that Free File, the IRS-private sector partnership that offers free tax preparation products, scored a record percentage increase in new users as taxpayers turned to free name-brand providers in 2020.

Sở Thuế Vụ gia hạn thời gian nhận Khoản Thanh Toán Tác Động Kinh Tế đến ngày 21 tháng Mười Một để giúp những người không phải khai thuế

IR-2020-229, ngày 5 tháng Mười, 2020 — Hôm nay, Sở Thuế vụ đã thông báo rằng hạn chót để đăng ký nhận Khoản Thanh Toán Tác Động Kinh Tế (Economic Impact Payment, EIP) là ngày 11 tháng Mười Một, 2020.

IRS provides details about settlements in syndicated conservation easement transaction initiative

IR-2020-228, October 1, 2020 — As the Internal Revenue Service continues combatting abusive syndicated conservation easements, the agency today released additional information to help address questions related to the ongoing settlement initiative.

IRS issues final regulations for Achieving a Better Life Experience accounts

IR-2020-227, October 1, 2020 — The Internal Revenue Service posted to IRS.gov final regulations today for Achieving a Better Life Experience (ABLE) accounts.

IRS expands enforcement focus on abusive micro-captive insurance schemes; taxpayers urged to consult independent tax advisor before Oct. 15 filing deadline

IR-2020-226, October 1, 2020 — With the October 15 filing deadline quickly approaching, the Internal Revenue Service today encouraged taxpayers to consult an independent tax advisor if they participated in a micro-captive insurance transaction.

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