IR-2020-217, September 21, 2020 – The Internal Revenue Service today issued final regulations that provide guidance for decedents' estates and non-grantor trusts clarifying that certain deductions of such estates and non-grantor trusts are not miscellaneous itemized deductions.
IR-2020-216, September 21, 2020 – The Treasury Department and the Internal Revenue Service today released the last set of final regulations implementing the 100% additional first year depreciation deduction that allows businesses to write off the cost of most depreciable business assets in the year they are placed in service by the business.
IR-2020-215, September 17, 2020 – Victims of the Oregon wildfires and straight-line winds that began on September 7 now have until January 15, 2021 to file various individual and business tax returns and make tax payments, the Internal Revenue Service announced today.
IR-2020-214, September 17, 2020 – The Internal Revenue Service today released a state-by-state breakdown of the roughly nine million people receiving a special mailing this month encouraging them to see if they're eligible to claim an Economic Impact Payment.
IR-2020-213, September 16, 2020 – The Internal Revenue Service today reminds taxpayers who filed an extension that the October 15 due date to file 2019 tax returns is approaching.
IR-2020-212, September 16, 2020 – The Internal Revenue Service continues to look for ways to assist taxpayers affected by the COVID-19 pandemic.
IR-2020-211, September 15, 2020 – The IRS has revised guidance for examiners in the Large Business & International division (LB&I) reviewing the amounts claimed for the tax credit for increasing research activities.
IR-2020-210, September 15, 2020 – The Internal Revenue Service today issued final regulations for taxpayers who claim the rehabilitation credit.
IR-2020-209, September 14, 2020 – The final regulations for the business interest expense deduction limitation published in the Federal Register today.
IR-2020-208, September 11, 2020 – The Internal Revenue Service has selected 10 new members for the Electronic Tax Administration Advisory Committee (ETAAC).
IR-2020-207, September 10, 2020 – The Internal Revenue Service today urged individuals who owe taxes but have not yet filed for 2019 to act now to avoid larger penalties that, by law, start after September 14.
IR-2020-206, September 10, 2020 – On August 28, the IRS announced that it would temporarily allow the use of digital signatures on certain forms that cannot be filed electronically.
IR-2020-205, September 9, 2020 – The Internal Revenue Service today reminded the self-employed, investors, retirees and others with income not subject to withholding that third quarter estimated tax payments for 2020 are due September 15.
IR-2020-204, September 9, 2020 – As part of a larger effort to reach underserved communities, the IRS is taking a number of aggressive steps to expand information and assistance available to taxpayers in additional languages, including providing the Form 1040 in Spanish for the first time.
IR-2020-203, September 8, 2020 – Later this month, the Internal Revenue Service will start mailing letters to roughly nine million Americans who typically don't file federal income tax returns who may be eligible for, but have not registered to claim, an Economic Impact Payment.
IR-2020-202, September 3, 2020 – The Internal Revenue Service today announced that interest rates will remain the same for the calendar quarter beginning October 1, 2020.
IR-2020-201, September 3, 2020 – The Internal Revenue Service announced today that Rachel Leiser Levy is the new Associate Chief Counsel, Employee Benefits, Exempt Organizations and Employment Taxes (EEE).
IR-2020-200, September 1, 2020 – The IRS issued final regulations today providing additional guidance on the base erosion and anti-abuse tax (BEAT).
IR-2020-199, September 1, 2020 – The IRS announces the launch of the Bi-Partisan Budget Act (BBA) Centralized Partnership Audit Regime webpage.
IR-2020-198, August 31, 2020 – The Internal Revenue Service is holding a free webinar designed to give an overview of Opportunity Zones and to discuss related tax benefits for investors.
IR-2020-197, August 31, 2020 – Victims of Hurricane Laura that began August 22 now have until December 31, 2020, to file various individual and business tax returns and make tax payments, the IRS announced today.
IR-2020-196, August 31, 2020 – As part of a continuing effort to combat abusive transactions, the Internal Revenue Service announced today the completion of the first settlement under its initiative to resolve certain docketed cases involving syndicated conservation easement transactions.
IR-2020-195, August 28, 2020 – The Department of Treasury and IRS today issued guidance implementing the Presidential Memorandum issued on Aug. 8, 2020, allowing employers to defer withholding and payment of the employee's portion of the Social Security tax if the employee's wages are below a certain amount.
IR-2020-194, August 28, 2020 – To protect the health of taxpayers and tax professionals, the Internal Revenue Service today announced it will temporarily allow the use of digital signatures on certain forms that cannot be filed electronically.
IR-2020-193, August 27, 2020 – The Internal Revenue Service announced today the opening of the application period for the 2021 Compliance Assurance Process program.
IR-2020-192, August 25, 2020 – The Internal Revenue Service will soon send catch-up Economic Impact Payment checks to about 50,000 individuals whose portion of the EIP was diverted to pay their spouse's past-due child support.
IR-2020-190, August 24, 2020 – Victims of the Aug. 10 derecho storm that affected parts of Iowa now have until Dec. 15, 2020, to file various individual and business tax returns and make tax payments, the IRS announced today.
IR-2020-189, August 24, 2020 – The Internal Revenue Service reminds people to create or maintain an emergency preparedness plan. A well-thought-out plan is a critical component for surviving natural disasters.
IR-2020-188, August 24, 2020 – The Internal Revenue Service today issued a memorandum that provides interim guidance to the agency's compliance staff on requests to designate issues for litigation.
IR-2020-187, August 24, 2020 – The Internal Revenue Service today reminds IRA owners, beneficiaries or workplace retirement plan participants who received a Required Minimum Distribution (RMD) this year that they have until Aug. 31 to rollover or repay the distribution to avoid paying taxes.
IR-2020-186, August 19, 2020 – The IRS reminded employers today to carefully choose their payroll service providers following continuing concerns that some disreputable organizations can fail to deposit employment taxes, leaving businesses vulnerable to unpaid bills.
IR-2020-185, August 18, 2020 – With millions of Americans now receiving taxable unemployment compensation, many of them for the first time, the Internal Revenue Service today reminded people receiving unemployment compensation (beneficiaries) that they can have tax withheld from their benefits now to help avoid owing taxes on this income when they file their federal income tax return next year.
IR-2020-184, August 18, 2020 – The Internal Revenue Service and Security Summit partners today reminded tax professionals that federal law requires them to have a written information security plan.
IR-2020-183, August 18, 2020 – This week the Treasury Department and the Internal Revenue Service will send interest payments to about 13.9 million individual taxpayers who timely filed their 2019 federal income tax returns and are receiving refunds.
IR-2020-182, August 17, 2020 – Marking a major milestone in tax administration, the Internal Revenue Service announced today that taxpayers can now submit Form 1040-X electronically with commercial tax-filing software.
IR-2020-181, August 17, 2020 – More than 1 million Individual Taxpayer Identification Numbers are set to expire at the end of 2020 as the Internal Revenue Service completes the expiration of ITINs assigned prior to 2013.
IR-2020-180, August 14, 2020 – The Internal Revenue Service continues to look for ways to help people who were unable to provide their information in time to receive Economic Impact Payments for their children.
IR-2020-179, August 13, 2020 – The Internal Revenue Service today reminded owners of most heavy highway vehicles of their responsibility to timely file Form 2290, Heavy Highway Vehicle Use Tax Return.
IR-2020-178, August 11, 2020 – The Internal Revenue Service and the Security Summit partners today warned tax professionals to be alert to new phishing scams that try to take advantage of COVID-19, Economic Impact Payments and increased teleworking by practitioners.
IR-2020-177, August 10, 2020 – The Joint Board for the Enrollment of Actuaries today provided enrolled actuaries with notice that it is waiving the physical presence requirement for continuing professional education (CPE) credit for any formal programs conducted from January 1, 2020, through December 31, 2022.
IR-2020-176, August 4, 2020 – As more tax professionals consider teleworking during COVID-19, the IRS and the Security Summit partners today urged practitioners to secure remote locations by using a virtual private network (VPN) to protect against cyber intruders.
IR-2020-175, August 3, 2020 – The IRS announced today that James Lee will become the new chief of IRS Criminal Investigation (CI) on October 1.
IR-2020-174, July 30, 2020 – The Internal Revenue Service today issued proposed regulations proposed regulations updating various tax accounting regulations to adopt the simplified tax accounting rules for small businesses under the Tax Cuts and Jobs Act (TCJA).
IR-2020-173, July 30, 2020 – Because of the burdens the COVID-19 pandemic has placed on taxpayers claiming the rehabilitation credit, the Internal Revenue Service today issued Notice 2020-58 that provides additional relief to taxpayers in satisfying the substantial rehabilitation test.
IR-2020-172, July 29, 2020 – The Internal Revenue Service provided a reminder today that the Coronavirus Aid, Relief, and Economic Security (CARES) Act can help eligible taxpayers in need by providing favorable tax treatment for withdrawals from retirement plans and IRAs and allowing certain retirement plans to offer expanded loan options.
IR-2020-171, July 28, 2020 – The Internal Revenue Service issued final regulations regarding the provision of the Tax Cuts and Jobs Act that limits the deduction for business interest expense, including basic statutory amendments made by the CARES Act.
IR-2020-170, July 28, 2020 – With heightened threats during COVID-19, the Internal Revenue Service and Security Summit partners today called on tax professionals to select multi-factor authentication options whenever possible to prevent identity thieves from gaining access to client accounts.
IR-2020-169, July 27, 2020 – The Internal Revenue Service issued a temporary regulation and a proposed regulation to reconcile advance payments of refundable employment tax credits and recapture the benefit of these credits when necessary.
IR-2020-168, July 22, 2020 – The Internal Revenue Service reminds businesses required to file reports of large cash transactions that e-filing is a fast, easy and secure option for filing their reports.