IR-2019-186, November 19, 2019 WASHINGTON — The IRS today reminded tax professionals to review their e-Services account to ensure all contact information is accurate and to add or remove users. Reviewing e-Services information is just one of the tasks tax pros should complete now to get ready for 2020. Here’s a to-do list for the […]

IRS announces new dates, social media effort and partner toolkit to highlight identity theft precautions IR-2019-185, November 18, 2019 WASHINGTON —The Internal Revenue Service, state tax agencies and the nation’s tax industry today announced that the 4th Annual National Tax Security Awareness Week will take place between December 2 and December 6. Security Summit partners […]

IR-2019-183, November 14, 2019 WASHINGTON — The Internal Revenue Service today issued guidance for taxpayers with certain deductible expenses to reflect changes resulting from the Tax Cuts and Jobs Act (TCJA). Revenue Procedure 2019-46 (PDF), posted today on IRS.gov, updates the rules for using the optional standard mileage rates in computing the deductible costs of operating […]

IR-2019-179, November 6, 2019 WASHINGTON — The Internal Revenue Service today announced that employees in 401(k) plans will be able to contribute up to $19,500 next year. The IRS announced this and other changes in Notice 2019-59 (PDF), posted today on IRS.gov. This guidance provides cost‑of‑living adjustments affecting dollar limitations for pension plans and other […]

Here you’ll find items of current interest — new programs, recent guidance or timely reminders. October 15 filing extension deadline Taxpayers who requested an extension to file their 2018 tax return have until Tuesday, October 15 to file. Taxpayers can file their tax return electronically for free through IRS Free File. The program is available […]

IR-2019-178, October 31, 2019 WASHINGTON – The Internal Revenue Service today urged taxpayers to act now to avoid a tax-time surprise and ensure smooth processing of their 2019 federal tax return. This is the first in a series of reminders to help taxpayers get ready for the upcoming tax filing season. To that end, a […]

AB 5, Gonzalez. Worker status: employees and independent contractors. Existing law, as established in the case of Dynamex Operations West, Inc. v. Superior Court of Los Angeles (2018) 4 Cal.5th 903 (Dynamex), creates a presumption that a worker who performs services for a hirer is an employee for purposes of claims for wages and benefits […]

IR-2019-177, October 25, 2019 WASHINGTON –The Internal Revenue Service today issued final regulations on the new information reporting requirements for certain life insurance contract transactions. The requirement was authorized under new section 6050Y, added to the Internal Revenue Code by the Tax Cuts and Jobs Act (TCJA), the tax reform legislation enacted in December 2017. […]

IR-2019-176, October 23, 2019 WASHINGTON — The Internal Revenue Service today urged tax return preparers to start the upcoming 2020 filing season smoothly by renewing their Preparer Tax Identification Numbers now. All current PTINs will expire Dec. 31, 2019. “Last year we issued more than 813,000 PTIN’s and are asking tax preparers to renew now […]

IR-2019-172 , October 21, 2019 WASHINGTON — The IRS is joining an international coalition in launching the second annual International Charity Fraud Awareness Week (ICFAW). Today through Oct. 25, the coalition will raise awareness and share practices to help charities and other not-for-profit organizations avoid fraud and stop financial crime. A key feature of this […]