Category Archives: Internal Revenue Service

IR-2019-196, December 4, 2019 WASHINGTON — With millions of people logging in to websites and online accounts this holiday season, the IRS and the Security Summit partners remind taxpayers that common mistakes can increase their of risk having sensitive financial and tax data stolen by identity thieves. The Internal Revenue Service, state tax agencies and […]

IR-2019-197, December 4, 2019 WASHINGTON — The Internal Revenue Service today reminded employers and other businesses that wage statements and independent contractor forms still have a January 31 filing deadline. Before the Protecting Americans from Tax Hikes (PATH) Act, employers generally had a longer period of time to file these forms. But the 2015 law […]

IR-2019-195, December 3, 2019 WASHINGTON — As the holiday season approaches, the IRS and Security Summit partners warned taxpayers to watch out for phishing scams in the deluge of holiday email messages coming from retailers and others. More than 90% of all data thefts begin with an email phishing scam. The IRS, state tax agencies […]

IR-2019-194, December 2, 2019 WASHINGTON — The Internal Revenue Service issued final regulations and proposed regulations today on the base erosion and anti-abuse tax. The Tax Cuts and Jobs Act (TCJA) made major changes to the tax law including revamping the U.S. international tax system. Among other changes made by the TCJA, section 59A imposes […]

IR-2019-193, December 2, 2019 WASHINGTON — The Internal Revenue Service issued final regulations (PDF) today on the Foreign Tax Credit, a long-standing tax benefit that generally allows individuals and businesses to claim a credit for income taxes paid or accrued to foreign governments. The Tax Cuts and Jobs Act (TCJA) made major changes to the […]

IR-2019-192, December 2, 2019 WASHINGTON — The Internal Revenue Service and the Security Summit partners opened this year’s National Tax Security Awareness Week with a warning for holiday shoppers on Cyber Monday to secure their computers and mobile phones to reduce the threat of identity theft. During the holiday season, criminals take advantage of large […]

IR-2019-191, November 26, 2019 WASHINGTON – As tax filing season approaches, the Internal Revenue Service cautions taxpayers not to rely on receiving their refund by a certain date, especially when making major purchases or paying bills. Some tax returns may require additional review and those refunds may take longer. Many factors affect refund timing Just […]

IR-2019-190, November 26, 2019 WASHINGTON — The Internal Revenue Service today issued guidance for business travelers, updated to include changes resulting from the Tax Cuts and Jobs Act (TCJA). Revenue Procedure 2019-48 (PDF), posted today on IRS.gov, updates the rules for using per diem rates to substantiate the amount of ordinary and necessary business expenses paid […]

IR-2019-189, November 22, 2019 WASHINGTON — The Treasury Department and the Internal Revenue Service today issued final regulations confirming that individuals taking advantage of the increased gift and estate tax exclusion amounts in effect from 2018 to 2025 will not be adversely impacted after 2025 when the exclusion amount is scheduled to drop to pre-2018 […]

IR-2019-188, November 22, 2019 WASHINGTON — The Internal Revenue Service recently awarded more than $9.8 million in Tax Counseling for the Elderly (TCE) grants to organizations that provide free federal tax return preparation. This year, the IRS awarded grants to 27 TCE applicants from across the nation (PDF). The TCE grants cover one year. The IRS received […]