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 […]
IRS takes new steps to ensure people with children receive $500 Economic Impact Payments
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 […]
Working Virtually: Avoid phishing scams; Part 4 of Security Summit tips for tax professionals
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 […]
IRS grants additional relief for rehabilitation credit deadlines
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 […]
IRS issues proposed regulations for TCJA’s simplified tax accounting rules for small businesses
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 […]
IRS issues final regulations and other guidance on business interest expense deduction limitation
IR-2020-171, July 28, 2020 WASHINGTON — The Internal Revenue Service issued final regulations (PDF) regarding the provision of the Tax Cuts and Jobs Act that limits the deduction for business interest expense, […]
IRS provides guidance on recapturing excess employment tax credits
IR-2020-169, July 27, 2020 WASHINGTON — 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 […]
Working Virtually: Protect tax data at home and at work with the “Security Six;” Part 1 of Security Summit tips for tax professionals
IR-2020-167, July 21, 2020 WASHINGTON — With cyberthieves active during COVID-19, the Internal Revenue Service and the Security Summit partners today urged tax professionals to review critical security steps to ensure they […]
IRS: Seniors, retirees not required to take distributions from retirement accounts this year under new law
IR-2020-162, July 17, 2020 WASHINGTON — The Internal Revenue Service today reminds seniors and retirees that they are not required to take money out of their IRAs and workplace retirement […]
IRS: July 15 tax payment deadline approaching; plan on scheduling multiple payments now
IR-2020-131, June 26, 2020 WASHINGTON ― As the 2019 tax filing and payment deadline approaches, the IRS reminds taxpayers and businesses that 2019 income tax liabilities as well as postponed April 15 […]