IRS kicks off 2020 tax filing season with returns due April 15; help available on IRS.gov for fastest service

IR-2020-20, January 27, 2020 WASHINGTON ― The Internal Revenue Service successfully opened the 2020 tax filing season today as the agency begins accepting and processing federal tax returns for tax year 2019. The deadline to file a 2019 tax return and pay any tax owed is Wednesday, April 15, 2020. More than 150 million individual […]

IRS provides relief to financial institutions affected by tax law change raising the age for required minimum distributions

IR-2020-19, January 27, 2020 WASHINGTON — The Internal Revenue Service has provided relief to financial institutions that were expected to provide required minimum distribution (RMD) statements to IRA owners by January 31, 2020. Notice 2020-6 (PDF) clarifies that if an RMD statement is provided for 2020 to an IRA owner who will turn age 70½ in […]

Global tax chiefs undertake unprecedented multi-country day of action to tackle international tax evasion

IR-2020-18, January 23, 2020 WASHINGTON — A globally coordinated day of action to put a stop to the suspected facilitation of offshore tax evasion has been undertaken this week across the United Kingdom (UK), United States (US), Canada, Australia and the Netherlands. The action occurred as part of a series of investigations in multiple countries […]

IRS: Don’t be victim to “ghost” tax return preparers

IR-2020-17, January 22, 2020 WASHINGTON — With the start of the 2020 tax filing season near, the Internal Revenue Service is reminding taxpayers to avoid unethical “ghost” tax return preparers. According to the IRS, a ghost preparer does not sign a tax return they prepare. Unscrupulous ghost preparers will print the return and tell the […]

IRS willing to consider requests for relief from double taxation related to repatriation

IR-2020-16, January 17, 2020 WASHINGTON — The IRS announced today that the agency has become aware of limited circumstances in which it may be appropriate to provide relief from double taxation resulting from application of the repatriation tax under section 965, as amended by the Tax Cuts and Jobs Act (TCJA). The IRS has determined […]

IRS Free File can save families money; find tax benefits all for free

IR-2020-15, January 17, 2020 WASHINGTON — IRS Free File can save families, especially those with children, some money in 2020 plus find tax benefits such as the Earned Income Tax Credit. Free File is now available at IRS.gov/freefile. Since its 2003 debut, Free File has served nearly 57 million taxpayers, saving them $1.7 billion using […]

IRS: Most taxpayers eligible for free federal and free state tax return preparation

IR-2020-13, January 16, 2020 WASHINGTON – Most taxpayers can do both their federal and state tax returns for free online through Free File offered either by the IRS or by states that have a similar public-private partnership. For 2020, taxpayers whose prior-year adjusted gross income was $69,000 or less, and that’s most people, can use […]

IRS to restore sequestered funds (AMT only) this fiscal year to businesses affected by OMB determination

IR-2020-12, January 16, 2020 WASHINGTON – The Internal Revenue Service today announced it will return sequestered funds to businesses that were affected by a recent Office of Management and Budget (OMB) determination regarding the Balanced Budget and Emergency Deficit Control Act of 1985, as amended. The IRS will restore any amounts sequestered since 2013 under […]

Get up-to-date information this tax filing season with redesigned IRS e-News Subscriptions

IR-2020-14, January 16, 2020 WASHINGTON — As the 2020 tax season approaches, the Internal Revenue Service today encouraged taxpayers, businesses, tax professionals and others to take advantage of a variety of improved e-mail subscription services. The e-News Subscription Service has been redesigned and updated in recent months to make it easier to subscribe to specific […]

IRS Free File helps seniors and retires do their taxes for free

IR-2020-10, January 15, 2020 WASHINGTON — Seniors and retirees whose income is under $69,000 a year should explore IRS Free File for free online tax preparation. Seniors are one of the key constituents for Free File which has served 57 million taxpayers and saved them $1.7 billion since the online filing service debuted in 2003. […]