IR-2020-188, August 24, 2020 WASHINGTON — The Internal Revenue Service today issued a memorandum (PDF) that provides interim guidance to the agency’s compliance staff on requests to designate issues for litigation. Designation of issues for litigation, a decision that is made with the Office of Chief Counsel, limits a taxpayer’s opportunity to administratively resolve their case […]
Category Archives: Internal Revenue Service
IRS urges employers to choose carefully when selecting a payroll service provider
Using a reputable firm or group can protect employers from fraud; options include PSPs, RAs and CPEOs IR-2020-186, August 19, 2020 WASHINGTON — The IRS reminded employers today to carefully choose their payroll service providers following continuing concerns that some disreputable organizations can fail to deposit employment taxes, leaving businesses vulnerable to unpaid bills. Many employers […]
Working Virtually: make a plan for protecting data and reporting theft; Part 5 of Security Summit tips for tax professionals
IR-2020-184, August 18, 2020 WASHINGTON — The Internal Revenue Service and Security Summit partners today reminded tax professionals that federal law requires them to have a written information security plan. Amid continuing security threats during COVID-19, the IRS, state tax administrators and the nation’s tax industry − working together as the Security Summit − also […]
13.9 million Americans to receive IRS tax refund interest; taxable payments to average $18
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 2019 federal income tax returns and are receiving refunds. The interest payments, averaging about $18, will be made to individual taxpayers who filed a 2019 […]
IRS: Unemployment compensation is taxable; have tax withheld now and avoid a tax-time surprise
IR-2020-185, August 18, 2020 WASHINGTON — With millions of Americans now receiving taxable unemployment compensation, many of them for the first time, the Internal Revenue Service today reminded people receiving unemployment compensation that they can have tax withheld from their benefits now to help avoid owing taxes on this income when they file their federal income […]
Last round of ITINs will expire in 2020; IRS encourages early renewal to prevent refund delays
IRS YouTube Videos: Individual Taxpayer Identification Number (ITIN) – English | Spanish IR-2020-181, August 17, 2020 WASHINGTON — More than 1 million Individual Taxpayer Identification Numbers are set to expire at the end of 2020 as the Internal Revenue Service completes the expiration of ITINs assigned prior to 2013. The IRS continues to urge affected […]
Now available: IRS Form 1040-X electronic filing
Major IRS milestone helps taxpayers correct tax returns with fewer errors, speeds processing IR-2020-182, August 17, 2020 WASHINGTON — Marking a major milestone in tax administration, the Internal Revenue Service announced today that taxpayers can now submit Form 1040-X electronically with commercial tax-filing software. As IRS e-filing has grown during the past 30 years, the […]
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 Impact Payments for their children. As part of that effort, the Internal Revenue Service announced today it will reopen the registration period for federal beneficiaries […]
IRS reminds truckers of Aug. 31 highway use tax return deadline; e-file encouraged
IR-2020-179, August 13, 2020 WASHINGTON — The Internal Revenue Service today reminded owners of most heavy highway vehicles of their responsibility to timely file Form 2290, Heavy Highway Vehicle Use Tax Return. The highway use tax applies to highway motor vehicles with a taxable gross weight of 55,000 pounds or more. This generally includes large […]
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 COVID-19, Economic Impact Payments and increased teleworking by practitioners. The IRS, state tax agencies and the nation’s tax industry urged tax firms to […]