Category Archives: Internal Revenue Service

Taxpayers may qualify for significant tax benefit IRS YouTube Videos IR-2020-22, January 28, 2020 WASHINGTON − The Internal Revenue Service and its partners nationwide remind taxpayers about the Earned Income Tax Credit on January 31, “EITC Awareness Day.” This is the 14th year of the EITC awareness campaign that alerts millions of workers to this […]

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 […]

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 […]

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 […]

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 […]

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 […]

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 […]

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 […]

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 […]

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 […]