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. IRS provides tax relief for victims of September wildfires in California; Oct. 15 deadline, other dates extended to Jan. 15 IR-2020-237, October 19, 2020 — Victims of the California wildfires that began on September 4 now have until January 15, 2021, to file various individual and business tax returns and make tax payments, the Internal Revenue Service announced today. IRS provides tax relief for victims of Hurricane Delta; Oct. 15 deadline, other dates extended to Feb. 16 IR-2020-236, October 19, 2020 — Victims of Hurricane Delta that began on October 6 now have until February 16, 2021 to file various individual and business tax returns and make tax payments, the Internal Revenue Service announced today. 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. IRS adds QR technology to key balance due notices to help taxpayers IR-2020-233, October 9, 2020 — For the first time, the IRS is adding barcode technology to notices sent to millions of taxpayers. IRS: Check tax withholdings now as the last quarter of 2020 begins IR-2020-232, October 9, 2020 — The Internal Revenue Service today reminded taxpayers that now is the perfect time to review their tax withholding and payments to avoid a surprise when filing next year. 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. IRS extends Economic Impact Payment deadline to Nov. 21 to help non-filers IR-2020-229, October 5, 2020 — The Internal Revenue Service announced today that the deadline to register for an Economic Impact Payment (EIP) is now Nov. 21, 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. News release and fact sheet archive Find previous year news releases and fact sheets from 1997 through last month.
