IR-2020-32, February 14, 2020 WASHINGTON — The IRS and its Security Summit partners today called on tax professionals and taxpayers to use the free, multi-factor authentication feature being offered on tax preparation software products. Already, nearly two dozen tax practitioner firms have reported data thefts to the IRS this year. Use of the multi-factor authentication […]
Category Archives: Internal Revenue Service
Avoid the rush: Track tax refunds using the “Where’s My Refund?” tool at IRS.gov
IR-2020-31, February 14, 2020 WASHINGTON — Offering time-saving alternatives to a telephone call, the Internal Revenue Service reminds taxpayers they can get fast answers to their refund questions by using the “Where’s My Refund?” tool available on IRS.gov and through the IRS2Go app. The IRS issues nine out of 10 refunds in less than 21 […]
IRS: Avoid the rush after Presidents Day holiday; Use IRS’ online tools to get help
IR-2020-30, February 13, 2020 WASHINGTON — With a surge of tax returns expected the two weeks following the February 17 Presidents Day holiday, the Internal Revenue Service is offering taxpayers several tips and various time-saving resources to get them the help they need quickly and easily. To help avoid this period of high telephone demand, […]
Feb. 20 IRS webinar focuses on gig economy
IR-2020-29, February 12, 2020 WASHINGTON — The Internal Revenue Service is holding a free webinar designed to help gig workers, employers, contractors and other businesses understand their tax reporting responsibilities. This free 60-minute webinar will take place on Thursday, February 20 at 2 p.m. Eastern Time. It is open to gig workers, businesses, tax professionals […]
IRS, Treasury issue proposed regulations updating income tax withholding rules
IR-2020-28, February 11, 2020 WASHINGTON — The U.S. Department of the Treasury and the Internal Revenue Service today issued proposed regulations updating the federal income tax withholding rules to reflect changes made by the Tax Cuts and Jobs Act (TCJA) and other legislation. In general, the proposed regulations, available now in the Federal Register, are […]
IRS launches Identity Theft Central
Focuses on needs of taxpayers, tax professionals and businesses IR-2020-27, February 3, 2020 WASHINGTON — The Internal Revenue Service today launched Identity Theft Central, designed to improve online access to information on identity theft and data security protection for taxpayers, tax professionals and businesses. Located on IRS.gov, Identity Theft Central is available 24/7 at irs.gov/identitytheft. […]
IRS revises Form 1023 for applying for tax-exempt status
IR-2020-25, January 31, 2020 WASHINGTON — As part of an ongoing effort to improve service for the tax-exempt community, the Internal Revenue Service has revised Form 1023 to allow electronic filing for the first time starting later this month. To help charities apply for Section 501(c)(3) tax-exempt status, the IRS has revised Form 1023, Application […]
IRS takes next step on abusive micro-captive transactions; nearly 80 percent accept settlement, 12 new audit teams established
IR-2020-26, January 31, 2020 WASHINGTON — The Internal Revenue Service announced today the overwhelming acceptance of a time-limited settlement offer made to certain taxpayers under audit who participated in abusive micro-captive insurance transactions. Nearly 80% of taxpayers who received offer letters elected to accept the settlement terms. In addition, the IRS is establishing 12 new […]
IRS: Jan. 31 filing deadline for employers, other businesses to file wage statements, independent contractor forms
IRS YouTube Videos IR-2020-21, January 28, 2020 WASHINGTON — With just a few days remaining until the deadline, the Internal Revenue Service reminds employers and other businesses that January 31 is the filing deadline for submitting wage statements and forms for independent contractors with the government. Employers must file their copies of Form W-2, Wage […]
IRS outlines new tax law effect on tax exempt organizations
IR-2020-23, January 28, 2020 WASHINGTON – The Internal Revenue Service wants tax-exempt organizations to know about recent tax law changes that might affect them. The Taxpayer Certainty and Disaster Tax Relief Act, passed on December 20, 2019, includes several provisions that may apply to tax-exempt organizations’ current and previous tax years. Repeal of “parking lot […]