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 […]

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 3: Creating strong passwords can protect taxpayers from identity theft

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 […]

Jan. 31 filing deadline remains for employer wage statements, independent contractor forms

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 […]

National Tax Security Awareness Week, Day 2: Don’t take the bait: Recognize, avoid phishing scams from identity thieves

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 […]

National Tax Security Awareness Week begins; IRS and Security Summit partner offer Cyber Monday shopping tips to protect computers, mobile phones

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 […]

Treasury, IRS issue final regulations on new international provision, the base erosion and anti-abuse tax

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 […]

Treasury, IRS issue final regulations on the Foreign Tax Credit

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 […]

Get ready for taxes: Important things to know about refunds

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 […]

IRS updates per diem guidance for business travelers and their employers

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 […]