IRS selects nine new members for the Electronic Tax Administration Advisory Committee

IR-2019-170, October 15, 2019 WASHINGTON — The Internal Revenue Service has selected nine new members for the Electronic Tax Administration Advisory Committee (ETAAC). Established in 1998, the ETAAC is a public forum for the discussion of issues in electronic tax administration. Its aim is to prevent identity theft and refund fraud in support of paperless […]

IRS celebrates military families during National Work and Family Month

IR-2019-169, October 15, 2019 WASHINGTON —As part of National Work and Family Month, the Internal Revenue Service reminds military families that they often qualify for specific tax rules and benefits. National Work and Family Month was established in 2003 by a Senate resolution. October was chosen to help communicate and celebrate progress towards creating more […]

2 million ITINs set to expire in 2019; to avoid refund delays apply soon

IR-2019-168, October 10, 2019 IRS YouTube Videos:Individual Taxpayer Identification Number (ITIN) – English | Spanish WASHINGTON —Taxpayers with expiring Individual Taxpayer Identification Numbers (ITINs) can get their ITINs renewed more quickly and avoid refund delays next year by submitting their renewal   application soon, the Internal Revenue Service said today. An ITIN is a tax ID […]

Virtual currency: IRS issues additional guidance on tax treatment and reminds taxpayers of reporting obligations

IR-2019-167, October 9, 2019 WASHINGTON — As part of a wider effort to assist taxpayers and to enforce the tax laws in a rapidly changing area, the Internal Revenue Service today issued two new pieces of guidance for taxpayers who engage in transactions involving virtual currency. Expanding on guidance from 2014, the IRS is issuing […]

IRS celebrates National Work and Family Month

IR-2019-166, October 8, 2019 WASHINGTON – The Internal Revenue Service is participating in National Work and Family Month by issuing a series of informative tips on work-life balance throughout the month of October. The agency plans a series of news releases, fact sheets and tax tips. Topics covered include family-owned businesses, family tax credits, military […]

New payment option available to taxpayers in private debt collection program

IR-2019-165, October 8, 2019 WASHINGTON — Internal Revenue Service officials today announced that a new payment option has been added to the private debt collection program to make it easier for those who owe to pay their tax debts. Taxpayers now can choose the convenient option of a preauthorized direct debit to make one payment […]

IRS extends Oct. 15 and other upcoming deadlines, provides other tax relief for victims of Tropical Storm Imelda

IR-2019-164, October 7, 2019 WASHINGTON – Victims of Tropical Storm Imelda in parts of Texas, including the Houston area, have until Jan. 31, 2020, to file various individual and business tax returns and make tax payments, the Internal Revenue Service announced today. The IRS is offering this relief to any area designated by the Federal […]

IRS grants relief for U.S. persons who own stock in certain foreign corporations

IR-2019-162, October 1, 2019 WASHINGTON — The Department of the Treasury and the Internal Revenue Service today issued Revenue Procedure 2019-40 and proposed regulations that provides relief to certain U.S. persons that own stock in certain foreign corporations. The Revenue Procedure limits the inquiries required by U.S. persons to determine whether certain foreign corporations are […]

IRS relief provides drought-stricken farmers, ranchers more time to replace livestock

IR-2019-161, September 30, 2019 WASHINGTON — Farmers and ranchers who were forced to sell livestock due to drought may have an additional year to replace the livestock and defer tax on any gains from the forced sales, according to the Internal Revenue Service. The farmer or rancher must be in an applicable region. This is […]

IRS releases draft 2019 Forms 1065, 1120-S, and Schedules K-1

IR-2019-160, September 30, 2019 WASHINGTON – Today the IRS issued a draft of the tax year 2019 Form 1065, U.S. Return of Partnership Income (PDF), and its Schedule K-1, Partner’s Share of Income, Deductions, Credits, etc (PDF). The changes to the form and schedule aim to improve the quality of the information reported by partnerships both to […]