LB&I Announces Large Corporate Compliance Program | Internal Revenue Service IR-2019-95, May 16, 2019 WASHINGTON — The Internal Revenue Service today announced a key advancement in how it identifies its biggest and most complex large corporations. On May 15, the IRS’s Large Business and International Division (LB&I) began a new application of data analytics for […]

During Small Business Week, IRS spotlights expanded tax benefits for depreciation and expensing | Internal Revenue Service IR-2019-92, May 9, 2019 WASHINGTON — During Small Business Week, the Internal Revenue Service is highlighting tax reform changes that impact depreciation and expensing for nearly every business. In some cases, these changes allow small business owners and […]

IRS highlights credits and deductions for businesses during Small Business Week | Internal Revenue Service IR-2019-93, May 10, 2019 WASHINGTON — During Small Business Week, the Internal Revenue Service reminds small business owners and self-employed individuals to take deductions and credits that will help their bottom line. This year, National Small Business Week is May […]

Many tax-exempt organizations have until May 15 to file information returns; IRS warns against including personal data | Internal Revenue Service IR-2019-90, May 7, 2019 WASHINGTON — The Internal Revenue Service reminded certain tax-exempt organizations that Wednesday, May 15, 2019, is the filing deadline for Form 990-series information returns. These types of information returns are […]

IRS accepting applications for 2020 grants for low income taxpayer clinics | Internal Revenue Service IR-2019-83, May 1, 2019 WASHINGTON — The Internal Revenue Service today announced that the application period for Low Income Taxpayer Clinic (LITC) grants for calendar year 2020 will run from May 1, 2019, to June 17, 2019. The LITC Program […]

Done with taxes this year? Use 2018 return to get 2019 withholding right | Internal Revenue Service IR-2019-80, April 26, 2019 WASHINGTON — Millions of taxpayers filed a 2018 tax return in the last few weeks, making now a prime time for everyone to consider whether their tax situation came out as they expected. If […]

IRS seeks applications for the Electronic Tax Administration Advisory Committee through May 29 | Internal Revenue Service IR-2019-78, April 25, 2019 WASHINGTON — The Internal Revenue Service is seeking qualified applicants for nomination to the Electronic Tax Administration Advisory Committee (ETAAC). The ETAAC provides an organized public forum for discussion of issues in electronic tax […]

Some people get more time to file without asking; Anyone else can request an automatic extension | Internal Revenue Service -2019-73, April 12, 2019 WASHINGTON — Anyone can request an automatic tax-filing extension, but some people get extra time without asking, according to the Internal Revenue Service. The IRS estimates that more than 14.6 million […]

IRS issues guidance providing safe harbor for trades of player and staff-member contracts and draft picks | Internal Revenue Service IR-2019-70, April 11, 2019 WASHINGTON –The Internal Revenue Service issued guidance today that provides a safe harbor allowing professional sports teams to treat certain player and staff-member contracts and draft picks as having a zero […]

IRS now seeking volunteers for Taxpayer Advocacy Panel | Internal Revenue Service IR-2019-68, April 8, 2019 WASHINGTON — The Internal Revenue Service today announced it seeks civic-minded volunteers to serve on the Taxpayer Advocacy Panel (TAP). The TAP is a federal advisory committee that listens to taxpayers, identifies major taxpayer concerns and makes recommendations for […]