Category Archives: Internal Revenue Service

IR-2019-177, October 25, 2019 WASHINGTON –The Internal Revenue Service today issued final regulations on the new information reporting requirements for certain life insurance contract transactions. The requirement was authorized under new section 6050Y, added to the Internal Revenue Code by the Tax Cuts and Jobs Act (TCJA), the tax reform legislation enacted in December 2017. […]

IR-2019-176, October 23, 2019 WASHINGTON — The Internal Revenue Service today urged tax return preparers to start the upcoming 2020 filing season smoothly by renewing their Preparer Tax Identification Numbers now. All current PTINs will expire Dec. 31, 2019. “Last year we issued more than 813,000 PTIN’s and are asking tax preparers to renew now […]

IR-2019-173, October 21, 2019 WASHINGTON — With the Oct. 31 quarterly payroll tax return due date just around the corner, the Internal Revenue Service today urged business owners to take advantage of the speed and convenience of filing these returns electronically. IRS Forms 940, 941, 943, 944 or 945 are used to report employment tax […]

IR-2019-172 , October 21, 2019 WASHINGTON — The IRS is joining an international coalition in launching the second annual International Charity Fraud Awareness Week (ICFAW). Today through Oct. 25, the coalition will raise awareness and share practices to help charities and other not-for-profit organizations avoid fraud and stop financial crime. A key feature of this […]

IR-2019-174, October 21, 2019 WASHINGTON — Tax professionals can earn continuing education credits online by taking seminars recorded at the 2019 IRS Nationwide Tax Forums. The 15 new self-study seminars are now available on the IRS Nationwide Tax Forums Online website. Self-study seminars provide information to participants using interactive videos, PowerPoint slides and transcripts. The […]

IR-2019-171, October 18, 2019 WASHINGTON — The Internal Revenue Service today wants small business owners who are employers to know that the Electronic Federal Tax Payment System has features that can help them in meeting their tax obligations. EFTPS can help employers whether they prepare and submit payroll taxes themselves or if they hire a […]

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 […]

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 […]

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 […]

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 […]