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  • IRS says Special 300 Dollars Tax Deduction helps most People give to Charity this Year – Even if they Don’t Itemize

    U.S. Internal Revenue Service says Special $300 Tax Deduction helps most People give to Charity this Year – Even if they Don’t Itemize | site |


    (Information contained in U.S. Internal Revenue Service [IRS] press release: November 25, 2020) WASHINGTON – The Internal Revenue Service today reminded taxpayers of a special new provision that will allow more people to easily deduct up to $300 in donations to qualifying charities this year. Following special tax law changes made earlier this year, cash donations of up to $300 made before December 31, 2020, are now deductible when people file their taxes in 2021. "Our nation's charities are struggling to help those suffering from COVID-19, and many deserving organizations can use all the help they can get," said IRS Commissioner Chuck Rettig. "The IRS reminds people there's a new provision that allows for up to $300 in cash donations to qualifying organizations to be deducted from income. We encourage people to expl...
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  • IRS says Get Ready for Taxes - - - Steps to take Now to make Tax Filing easier in 2021

    U.S. Internal Revenue Service says Get Ready for Taxes: Steps to take Now to make Tax Filing easier in 2021 | site |


    (Information contained in U.S. Internal Revenue Service [IRS] press release: November 24, 2020)

    Washington – The Internal Revenue Service today encouraged taxpayers to take necessary actions this fall to help file federal tax returns timely and accurately in 2021.

    This is the second in a series of reminders to help taxpayers get ready for the upcoming tax filing season. A special page, updated and available on IRS.gov, outlines steps taxpayers can take now to make tax filing easier in 2021. 2020 has been a busy year, with a lot of changes. To make sure taxpayers don't miss out on tax benefits or make mistakes, they can take a few simple steps now to make filing their taxes easier in 2021. An important first step to getting taxes ready is to gather all tax records. Having records organized makes preparing a tax return easier. It
    ...
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  • IRS says Get Ready for Taxes - - - Get ready now to File 2020 Federal Income Tax Returns

    U.S. Internal Revenue Service says Get Ready for Taxes: Get ready now to File 2020 Federal Income Tax Returns | site |


    (November 17, 2020) - - On November 17, 2020 the U.S. Internal Revenue Service (IRS) published the following information:

    Washington - - The Internal Revenue Service today encouraged taxpayers to take necessary actions this fall to help them file their federal tax returns timely and accurately in 2021, including special steps related to Economic Impact Payments (EIP).

    This is the first in a series of reminders to help taxpayers get ready for the upcoming tax filing season. A special page, updated and available on IRS.gov, outlines steps taxpayers can take now to prepare for the 2021 tax return filing season ahead.

    Steps taxpayers can take now to make tax filing easier in 2021

    Taxpayers should gather Forms W-2, Wage and Tax Statement, Forms 1099-MISC, Miscellaneous Income, and other income documents
    ...
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  • IRS Criminal Investigation releases Fiscal Year 2020 Annual Report - - - identifies 2.3 Billion Dollars in Tax Fraud

    IRS Criminal Investigation releases Fiscal Year 2020 Annual Report; identifies $2.3 Billion in Tax Fraud | site |


    (November 16, 2020) - - Today the U.S. Internal Revenue Service (IRS) published the following information:

    WASHINGTON — The Internal Revenue Service today released the Criminal Investigation Division's annual report, highlighting the agency's successes and criminal enforcement actions taken in fiscal year 2020, the majority of which occurred during COVID-19. A key achievement was the identification of over $10 billion in tax fraud and other financial crimes. "The special agents and professional staff who make up Criminal Investigation continue to perform at an incredibly high-level year after year," said IRS Commissioner Chuck Rettig. "Even in the face of a global pandemic, the CI workforce initiated nearly 1,600 investigations and identified $2.3 billion in tax fraud schemes. This is no small feat during a challenging year, and their w
    ...
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  • IRS makes it easier to set up Payment Agreements - - offers other Relief to Taxpayers Struggling with Tax Debts

    IRS makes it easier to set up Payment Agreements; offers other Relief to Taxpayers Struggling with Tax Debts | site |



    (November 2, 2020) - - Today, November 2, 2020, the U.S. Internal Revenue Service (IRS) published the following information: WASHINGTON — The Internal Revenue Service today announced a number of changes designed to help struggling taxpayers impacted by COVID-19 more easily settle their tax debts with the IRS. The IRS assessed its collection activities to see how it could apply relief for taxpayers who owe but are struggling financially because of the pandemic, expanding taxpayer options for making payments and alternatives to resolve balances owed. "The IRS understands that many taxpayers face challenges, and we're working hard to help people facing issues paying their tax bills," said IRS Commissioner Chuck Rettig. "Following up on our People First Initiative earlier this year, this next phase of our efforts will help with further taxp...
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  • IRS says Circular 230, Publication 947 available in Spanish for Tax Pros for the First Time

    IRS says Circular 230, Publication 947 available in Spanish for Tax Pros for the First Time| site |



    (October 27, 2020) - - Today, October 27, 2020, the U.S. Internal Revenue Service (IRS) published the following information:

    WASHINGTON — As part of an ongoing initiative to provide information and assistance to underserved communities more effectively, the Internal Revenue Service announced today that it is making two key publications designed for tax professionals available in Spanish.

    A Spanish-language version of Publication 947, Practice Before the IRS and Power of Attorney, is now available. A Spanish version of Circular No. 230, Regulations Governing Practice before the Internal Revenue Service, will soon be posted to IRS.gov. Making these two publications available in Spanish helps the IRS reach its goal of serving all taxpayers, no matter where they live, their background, or what language they speak. "Spanish-speaking tax pros ha
    ...
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  • IRS says Online Seminars from 2020 IRS Nationwide Tax Forums now Available

    IRS says Online Seminars from 2020 IRS Nationwide Tax Forums now Available

    U.S. Internal Revenue Service says Online Seminars from 2020 IRS Nationwide Tax Forums now Available | site |


    Tax pros: 18 new self-study seminars available for continuing education credit


    (October 13, 2020) - - Today the U.S. Internal Revenue Service (IRS) published the following information:

    WASHINGTON — The Internal Revenue Service today announced 18 new seminars from the 2020 Nationwide Tax Forums are now available on IRS Nationwide Tax Forums Online. The cost is $29 per seminar.

    These self-study seminars provide information to participants using interactive videos, PowerPoint slides and audio transcripts.

    These and all other previously recorded sessions from prior IRS Nationwide Tax Forums will be available for $29.



    2020 Nationwide Tax Forums Online course listing

    The following is the comprehensive list of the new 2020 courses available:



    ...
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  • IRS Reminder that October 15 Deadline nears for Taxpayers who Requested Tax Filing Extensions

    IRS Reminder that October 15 Deadline nears for Taxpayers who Requested Tax Filing Extensions| site |



    (October 7, 2020) - - Today, October 7, 2020, the U.S. Internal Revenue Service (IRS) published the following information:

    WASHINGTON — The Internal Revenue Service today reminds taxpayers who filed an extension that the October 15 due date to file their 2019 tax return is near. Taxpayers should file their tax returns on or before the October 15 deadline. For those who still owe, pay as soon as possible to reduce any penalties and interest.

    Convenient electronic filing options, including IRS Free File, are still available. Taxpayers and tax professionals should continue to use electronic options to support social distancing and speed the processing of tax returns, refunds and payments. Although October 15 is the last day for most people to file, some taxpayers may have more time. They include: Members of the military and others ser
    ...
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  • IRS provides Tax Relief for Victims of Hurricane Sally

    IRS provides Tax Relief for Victims of Hurricane Sally

    IRS provides Tax Relief for Victims of Hurricane Sally | site |


    Oct. 15 deadline, other dates extended to Jan. 15

    (September 24, 2020) - - Today, September 24, 2020, the U.S. Internal Revenue Service (IRS) published the following information:

    WASHINGTON — Victims of Hurricane Sally that began on September 14 now have until January 15, 2021 to file various individual and business tax returns and make tax payments, the Internal Revenue Service announced today.

    The IRS is offering this relief to any area designated by the Federal Emergency Management Agency (FEMA) as qualifying for individual assistance. Currently this includes Baldwin, Escambia and Mobile counties in Alabama, but taxpayers in localities qualifying for individual assistance added later to the disaster area, elsewhere in the state and in neighboring states, will automatically receive the same filing and payment relief. The current list of eligible localities is always
    ...
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  • Tenth Circuit Upholds FDIC Ownership of Tax Refunds in Cases of Failed Banks

    Tenth Circuit Upholds FDIC Ownership of Tax Refunds in Cases of Failed Banks

    Tenth Circuit Upholds FDIC Ownership of Tax Refunds in Cases of Failed Banks| site |



    (May 27, 2020) - - Today (May 27, 2020), the Federal Deposit Insurance Corporation (FDIC) published the following information: WASHINGTON -- In a case remanded by the U.S. Supreme Court, the U.S. Court of Appeals for the Tenth Circuit yesterday issued a favorable decision holding tax refunds generated by a failed bank belonged to the FDIC as receiver rather than the bankruptcy trustee for the failed bank's parent company. The dispute arose from the 2011 failure of United Western Bank in Denver, Colorado. Shortly after the failure, the Bank's parent company, United Western Bancorp, Inc., filed for bankruptcy. Both the FDIC as receiver for the Bank and the parent company's bankruptcy trustee, Simon Rodriquez, claimed ownership of the $4.1 million tax refund. The bankruptcy trustee filed suit in bankruptcy court and prevailed. The FDIC as receiver appealed and, after the bankrupt...
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  • IRS Nationwide Tax Forums go Virtual in 2020

    IRS Nationwide Tax Forums go Virtual in 2020

    IRS Nationwide Tax Forums go Virtual in 2020 | site |



    Tax pros can choose from up to 30 webinars beginning in July


    (May 21, 2020) - - Today, the U.S. Internal Revenue Service (IRS) published the following information: WASHINGTON — The Internal Revenue Service today announced the 2020 IRS Nationwide Tax Forums will be held virtually in 2020 with a series of live-streamed webinars beginning this July. "Given restrictions on large gatherings and difficulties with travel, we've made the decision to present the IRS Nationwide Tax Forums in a virtual format this year," IRS Commissioner Chuck Rettig said. "While we're unable to meet in person, tax professionals will still be able to choose from a wide variety of virtual seminars on tax law.Many will be able to fully satisfy their annual continuing education requirements by registering and attending." Held each summer for the past 30 years, the IRS Nationwide Tax Forums are the IRS's marquee ou...
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  • Treasury and IRS Delay Federal Tax Day from April 15 to July 15 Due to COVID-19 Outbreak

    Treasury and IRS Delay Federal Tax Day from April 15 to July 15 Due to COVID-19 Outbreak | site |




    (March 21, 2020) - - Today (March 21, 2020), the U.S. Department of the Treasury published the following information: Washington – Following President Donald J. Trump’s emergency declaration pursuant to the Stafford Act, the U.S. Treasury Department and Internal Revenue Service (IRS) yesterday announced that the tax filings and payments for all federal income taxes (including self-employment tax) due on April 15, 2020, regardless of amount, will now be due on July 15, 2020. “At President Trump’s direction, we are moving Tax Day from April 15 to July 15,” said Secretary Steven T. Mnuchin. “All taxpayers and businesses will have this additional time to file and make payments without interest or penalties. I encourage all taxpayers who may have tax refunds to file now to receive those funds as quickly as possible.” Taxpayers are not required t...
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  • Tax Day now July 15 - - - Treasury, IRS Extend Filing Deadline and Federal Tax Payments Regardless of Amount Owed

    Tax Day now July 15: Treasury, IRS Extend Filing Deadline and Federal Tax Payments Regardless of Amount Owed | site |



    (March 21, 2020) - - In a press release dated March 21, 2020 the U.S. Internal Revenue Service provided the following information: WASHINGTON — The Treasury Department and Internal Revenue Service announced today that the federal income tax filing due date is automatically extended from April 15, 2020, to July 15, 2020. Taxpayers can also defer federal income tax payments due on April 15, 2020, to July 15, 2020, without penalties and interest, regardless of the amount owed. This deferment applies to all taxpayers, including individuals, trusts and estates, corporations and other non-corporate tax filers as well as those who pay self-employment tax. Taxpayers do not need to file any additional forms or call the IRS to qualify for this automatic federal tax filing and payment relief. Individual taxpayers who need additional time to file be...
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  • Treasury, IRS and Labor announce Plan to implement Coronavirus-related Paid Leave

    Treasury, IRS and Labor announce Plan to implement Coronavirus-related Paid Leave for Workers and Tax Credits for Small and Midsize Businesses to swiftly Recover the Cost of providing Coronavirus-related Leave | site |




    (March 20, 2020) - - In a press release dated March 20, 2020 the U.S. Internal Revenue Service (IRS) provided the following information:

    WASHINGTON — Today the U.S. Treasury Department, Internal Revenue Service (IRS), and the U.S. Department of Labor (Labor) announced that small and midsize employers can begin taking advantage of two new refundable payroll tax credits, designed to immediately and fully reimburse them, dollar-for-dollar, for the cost of providing Coronavirus-related leave to their employees. This relief to employees and small and midsize businesses is provided under the Families First Coronavirus Response Act (Act), signed by President Trump on March 18, 2020. The Act will help the United States combat and ...
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  • IRS lists some popular Tax Benefits renewed for 2019 - - IRS Publication 17 helps with 2019 Taxes

    IRS lists some popular Tax Benefits renewed for 2019 - - IRS Publication 17 helps with 2019 Taxes| site |



    (February 26, 2020) - - Today, the U.S. Internal Revenue Service (IRS) published the following information:

    WASHINGTON ― The Internal Revenue Service reminds taxpayers that it is processing tax returns claiming benefits extended or changed by recent legislation. Most taxpayers can file when they are ready – and as they normally would – if they are eligible for one or more of these benefits and claim them on their 2019 federal tax return.

    Taxpayers can get the most out of various tax benefits and get useful tips on preparing their 2019 federal income tax returns by consulting a free, comprehensive tax guide available on IRS.gov. Publication 17, Your Federal Income Tax, features an in-depth look at on tax changes for 2019 including recent legislative changes and covers the general rules for filing a federal income tax return. It supplements
    ...
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  • Staff Reporter 1
    IRS says Special 300 Dollars Tax Deduction helps most People give to Charity this Year – Even if they Don’t Itemize
    by Staff Reporter 1
    U.S. Internal Revenue Service says Special $300 Tax Deduction helps most People give to Charity this Year – Even if they Don’t Itemize | site |


    (Information contained in U.S. Internal Revenue Service [IRS] press release: November 25, 2020) WASHINGTON – The Internal Revenue Service today reminded taxpayers of a special new provision that will allow more people to easily deduct up to $300 in donations to qualifying charities this year. Following special tax law changes made earlier this year, cash donations of up to $300 made before December 31, 2020, are now deductible when people file their taxes in 2021. "Our nation's charities are struggling to help those suffering from COVID-19, and many deserving organizations can use all the help they can get," said IRS Commissioner Chuck Rettig. "The IRS reminds people there's a new provision that allows for up to $300 in cash donations to qualifying organizations to be deducted from income. We encourage people to expl...
    11-26-2020, 06:07 AM
  • Staff Reporter 1
    IRS says Get Ready for Taxes - - - Steps to take Now to make Tax Filing easier in 2021
    by Staff Reporter 1
    U.S. Internal Revenue Service says Get Ready for Taxes: Steps to take Now to make Tax Filing easier in 2021 | site |


    (Information contained in U.S. Internal Revenue Service [IRS] press release: November 24, 2020)

    Washington – The Internal Revenue Service today encouraged taxpayers to take necessary actions this fall to help file federal tax returns timely and accurately in 2021.

    This is the second in a series of reminders to help taxpayers get ready for the upcoming tax filing season. A special page, updated and available on IRS.gov, outlines steps taxpayers can take now to make tax filing easier in 2021. 2020 has been a busy year, with a lot of changes. To make sure taxpayers don't miss out on tax benefits or make mistakes, they can take a few simple steps now to make filing their taxes easier in 2021. An important first step to getting taxes ready is to gather all tax records. Having records organized makes preparing a tax return easier. It
    ...
    11-24-2020, 11:22 PM
  • Staff Reporter 1
    IRS says Get Ready for Taxes - - - Get ready now to File 2020 Federal Income Tax Returns
    by Staff Reporter 1
    U.S. Internal Revenue Service says Get Ready for Taxes: Get ready now to File 2020 Federal Income Tax Returns | site |


    (November 17, 2020) - - On November 17, 2020 the U.S. Internal Revenue Service (IRS) published the following information:

    Washington - - The Internal Revenue Service today encouraged taxpayers to take necessary actions this fall to help them file their federal tax returns timely and accurately in 2021, including special steps related to Economic Impact Payments (EIP).

    This is the first in a series of reminders to help taxpayers get ready for the upcoming tax filing season. A special page, updated and available on IRS.gov, outlines steps taxpayers can take now to prepare for the 2021 tax return filing season ahead.

    Steps taxpayers can take now to make tax filing easier in 2021

    Taxpayers should gather Forms W-2, Wage and Tax Statement, Forms 1099-MISC, Miscellaneous Income, and other income documents
    ...
    11-19-2020, 11:07 AM
  • Staff Reporter 1
    IRS Criminal Investigation releases Fiscal Year 2020 Annual Report - - - identifies 2.3 Billion Dollars in Tax Fraud
    by Staff Reporter 1
    IRS Criminal Investigation releases Fiscal Year 2020 Annual Report; identifies $2.3 Billion in Tax Fraud | site |


    (November 16, 2020) - - Today the U.S. Internal Revenue Service (IRS) published the following information:

    WASHINGTON — The Internal Revenue Service today released the Criminal Investigation Division's annual report, highlighting the agency's successes and criminal enforcement actions taken in fiscal year 2020, the majority of which occurred during COVID-19. A key achievement was the identification of over $10 billion in tax fraud and other financial crimes. "The special agents and professional staff who make up Criminal Investigation continue to perform at an incredibly high-level year after year," said IRS Commissioner Chuck Rettig. "Even in the face of a global pandemic, the CI workforce initiated nearly 1,600 investigations and identified $2.3 billion in tax fraud schemes. This is no small feat during a challenging year, and their w
    ...
    11-16-2020, 09:10 PM
  • Staff Reporter 1
    IRS makes it easier to set up Payment Agreements - - offers other Relief to Taxpayers Struggling with Tax Debts
    by Staff Reporter 1
    IRS makes it easier to set up Payment Agreements; offers other Relief to Taxpayers Struggling with Tax Debts | site |



    (November 2, 2020) - - Today, November 2, 2020, the U.S. Internal Revenue Service (IRS) published the following information: WASHINGTON — The Internal Revenue Service today announced a number of changes designed to help struggling taxpayers impacted by COVID-19 more easily settle their tax debts with the IRS. The IRS assessed its collection activities to see how it could apply relief for taxpayers who owe but are struggling financially because of the pandemic, expanding taxpayer options for making payments and alternatives to resolve balances owed. "The IRS understands that many taxpayers face challenges, and we're working hard to help people facing issues paying their tax bills," said IRS Commissioner Chuck Rettig. "Following up on our People First Initiative earlier this year, this next phase of our efforts will help with further taxp...
    11-05-2020, 03:26 PM

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