IR-2019-04, January 18, 2019 WASHINGTON — Today the Treasury Department and the Internal Revenue Service issued final regulations and three related pieces of guidance, implementing the new qualified business income […]
IRS Operations During the Appropriations Lapse
Due to the lapse in appropriations, most IRS operations are closed during the shutdown. An IRS-wide furlough began on December 22, 2018, that affects many operations. During this period, the […]
IRS waives penalty for many whose tax withholding and estimated tax payments fell short in 2018
WASHINGTON — The Internal Revenue Service announced today that it is waiving the estimated tax penalty for many taxpayers whose 2018 federal income tax withholding and estimated tax payments fell short […]
IRS Confirms Tax Filing Season to Begin January 28
WASHINGTON ― Despite the government shutdown, the Internal Revenue Service today confirmed that it will process tax returns beginning January 28, 2019 and provide refunds to taxpayers as scheduled. “We are […]
IRS Free File opens today in advance of tax season
Changes strengthen program; Free File can also help navigate new tax law provisions IR-2019-02, January 11, 2019 WASHINGTON — An improved version of IRS Free File begins its 17th filing […]
BREAKING NEWS: IRS Confirms Tax Filing Season to Begin January 28
IR-2019-01, January 7, 2019 WASHINGTON ― Despite the government shutdown, the Internal Revenue Service today confirmed that it will process tax returns beginning January 28, 2019 and provide refunds to […]
IRS issues guidance on Section 179 expenses and Section 168(g) depreciation under Tax Cuts and Jobs Act
IR-2018-257, December 21, 2018 WASHINGTON — The Internal Revenue Service issued Revenue Procedure 2019-08 today to provide guidance on deducting expenses under Section 179(a) and on deducting depreciation under Section […]
IRS: Make an estimated tax payment now to avoid a tax time surprise
IR-2018-255, December 19, 2018 WASHINGTON — The Internal Revenue Service today advised employees, whose 2018 federal income tax withholding unexpectedly falls short of their tax liability for the year, that […]
First plug-in electric vehicle manufacturer crosses 200,000 sold threshold; Tax credit for eligible consumers begins phase down on Jan. 1
IR-2018-252, December 14, 2018 WASHINGTON — The IRS announced today that Tesla, Inc. has sold more than 200,000 vehicles eligible for the plug-in electric drive motor vehicle credit during the […]
IRS issues guidance for determining nondeductible amount of parking fringe expenses and unrelated business taxable income; provides penalty relief to tax-exempt organizations
IR-2018-247, December 10, 2018 WASHINGTON – The Internal Revenue Service today issued interim guidance regarding the treatment of qualified transportation fringe benefit expenses paid or incurred after Dec. 31, 2017. The […]