IRS News- Automatic accounting method changes list updated by IRS
- Final regs. issued for clean energy credit transfers
- Draft of Form 1099-DA for reporting digital asset transactions released
- IRS has mixed results from ‘ghost employer’ enforcement efforts
- Updated FAQs provide details on phase-in timing of BOI access
- Despite moratorium, IRS gets 20,000 ERC claims weekly, Werfel says
- IRS grants limited waiver for underpayment of estimated corporate AMT
- Dirty Dozen list ends with easements, digital assets, and more
- Proposed regs. issued for 1% excise tax on corporate stock repurchases
- Two home energy rebates not includible in gross income, IRS says
Category Archives: IRS News
IRS reminds taxpayers they have to report any income from criminal activity, like dealing drugs
The IRS doesn’t want you to forget to include income from dealing illegal drugs or stolen property on your tax forms this year. “Income from illegal activities, such as money from dealing illegal drugs, must be included in your income … Continue reading
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IRS Pushes April 15th Tax Deadline to May 15th.
IRS is planning to set back the Tax deadline by 1 month this year.
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New IRS form available for self-employed individuals to claim COVID-19 sick and family leave tax credits under FFCRA
WASHINGTON – The Internal Revenue Service announced today that a new form is available for eligible self-employed individuals to claim sick and family leave tax credits under the Families First Coronavirus Response Act (FFCRA). Eligible self-employed individuals will determine their … Continue reading
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IRS launches new tool to help non-filers register for Economic Impact Payments
IRS.gov feature helps people who normally don’t file get payments; second tool next week provides taxpayers with payment delivery date and provide direct deposit information WASHINGTON – To help millions of people, the Treasury Department and the Internal Revenue Service … Continue reading
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2019 Tax Filing Season Extended to July 15, 2020.
Coronavirus postpones tax filing deadline to July 15 The deadline for filing tax returns will be postponed three months to July 15 because of the coronavirus outbreak, Treasury Secretary Steven Mnuchin announced. At President Trump’s direction, Mnuchin tweeted, “We are … Continue reading
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Tax Preparers Face Penalties on EITC Returns
IRS to Penalize Preparers for Failure to Attach Form 8867 For tax year 2012, IRS is sending notice of penalty letters to nearly 800 preparers who received the warning Letter 4989 and continued to submit EITC claims without the Form … Continue reading
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