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Month: August 2020

IRS accepting applicants for the Compliance Assurance Process for 2021

August 27, 2020General

IR-2020-193, Aug. 27, 2020 WASHINGTON — The Internal Revenue Service announced today the opening of the application period for the 2021 Compliance Assurance Process program. The application period runs Sept. […]

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IRS provides tax relief for victims of California wildfires; Oct. 15 deadline, other dates extended to Dec. 15

August 25, 2020General

IR-2020-191, August 24, 2020 WASHINGTON — Victims of the California wildfires that began August 14 now have until December 15, 2020 to file various individual and business tax returns and […]

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Working Virtually: make a plan for protecting data and reporting theft; Part 5 of Security Summit tips for tax professionals

August 24, 2020General

IR-2020-184, August 18, 2020 WASHINGTON — The Internal Revenue Service and Security Summit partners today reminded tax professionals that federal law requires them to have a written information security plan. Amid continuing […]

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IRS urges employers to choose carefully when selecting a payroll service provider

August 21, 2020General

Using a reputable firm or group can protect employers from fraud; options include PSPs, RAs and CPEOs IR-2020-186, August 19, 2020 WASHINGTON — The IRS reminded employers today to carefully choose […]

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13.9 million Americans to receive IRS tax refund interest; taxable payments to average $18

August 20, 2020General

IR-2020-183, August 18, 2020 WASHINGTON — 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 […]

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IRS takes new steps to ensure people with children receive $500 Economic Impact Payments

August 17, 2020General

IR-2020-180, August 14, 2020 WASHINGTON — The Internal Revenue Service continues to look for ways to help people who were unable to provide their information in time to receive Economic […]

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Working Virtually: Avoid phishing scams; Part 4 of Security Summit tips for tax professionals

August 13, 2020General

IR-2020-178, August 11, 2020 WASHINGTON — 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 […]

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IRS grants additional relief for rehabilitation credit deadlines

August 11, 2020General

IR-2020-173, July 30, 2020 WASHINGTON — 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 (PDF) that provides […]

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IRS issues proposed regulations for TCJA’s simplified tax accounting rules for small businesses

August 6, 2020General

IR-2020-174, July 30, 2020 WASHINGTON — The Internal Revenue Service today issued proposed regulations (PDF) updating various tax accounting regulations to adopt the simplified tax accounting rules for small businesses under the […]

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