IR-2019-207, December 16, 2019 WASHINGTON — The Internal Revenue Service reminds taxpayers there are things they should do now to get ready for the tax-filing season ahead. Charitable Contributions For most taxpayers, December 31 is the last day to take actions that will impact their 2019 tax return. For example, those who plan to itemize […]
Category Archives: Internal Revenue Service
IRS: Recent legislation requires tax exempt organizations to e-file forms
IR-2019-206, December 13, 2019 WASHINGTON – The Internal Revenue Service said today that the Taxpayer First Act, enacted July 1, requires tax exempt organizations to electronically file information returns and related forms. The new law affects tax exempt organizations in tax years beginning after July 1, 2019. The following IRS forms are included in the […]
IRS selects new advisory council members for 2020
IR-2019-205, December 12, 2019 WASHINGTON — The Internal Revenue Service today announced the appointment of 12 new members to the Internal Revenue Service Advisory Council. The IRSAC, established in 1953, is an organized public forum for IRS officials and representatives of the public to discuss various issues in tax administration. The council provides the IRS […]
IRS and TTB formalize process to support processing of claims made to the IRS Whistleblower Office
IR-2019-204, December 11, 2019 WASHINGTON — The Internal Revenue Service today announced a process has been formalized with the Alcohol and Tobacco Tax and Trade Bureau (TTB) that puts in place procedures between the IRS and TTB to process claims for whistleblower awards under internal revenue laws that are administered and enforced by TTB. The […]
Dec. 31 deadline for most retirees to take required minimum distributions
IR-2019-203, December 10, 2019 WASHINGTON — The Internal Revenue Service reminds retirees born before July 1, 1949, that they usually must take distributions from their retirement plans by December 31. The payments, called required minimum distributions (RMDs), are normally made by the end of the year. Those who turned 70½ in 2019 are allowed to […]
IRS selects longtime tax professional, Sharyn Fisk, to lead the Office of Professional Responsibility
IR-2019-202, December 9, 2019 WASHINGTON — The Internal Revenue Service today announced the selection of Sharyn M. Fisk to lead the agency’s Office of Professional Responsibility (OPR). Fisk has most recently been a professor of tax at the College of Business Administration at Cal Poly Pomona and active in the nation’s tax community in a […]
National Tax Security Awareness Week, Day 5: Tax professionals need data protection plans; must guard against identity theft
IRS YouTube Videos: IR-2019-200, December 6, 2019 WASHINGTON — As National Tax Security Awareness week concludes, the IRS, state tax agencies and the tax industry today reminded tax professionals that federal law requires them to create and follow a written information security plan to protect their clients’ data. The reminder came as the IRS and […]
Interest rates remain the same for the first quarter of 2020
IR-2019-201, December 6, 2019 WASHINGTON —The Internal Revenue Service today announced that interest rates will remain the same for the calendar quarter beginning January 1, 2020. The rates will be: 5% for overpayments (4% in the case of a corporation); 2.5% for the portion of a corporate overpayment exceeding $10,000; 5% for underpayments; and 7% […]
IRS Criminal Investigation releases Fiscal Year 2019 Annual Report; celebrates 100 years
IR-2019-199, December 5, 2019 WASHINGTON — The Internal Revenue Service today released the Criminal Investigation Division’s (CI) annual report (PDF), highlighting significant successes and criminal enforcement actions taken in fiscal year 2019. The report also commemorates CI’s 100th year anniversary as a law enforcement agency. “CI is critical to the overall enforcement efforts of the IRS […]
National Tax Security Awareness Week, Day 4: IRS, Security Summit warns business owners about being targets for identity thieves
IRS YouTube Videos: IR-2019-198, December 5, 2019 WASHINGTON — Amid threats from cybercriminals, the IRS, state tax agencies and the tax industry urged employers large and small to step up cybersecurity protections against business identity theft. Identity thieves are displaying a sophisticated knowledge of the tax code and industry filing practices as they attempt to […]