Internal Revenue Service Press Releases - EIN Presswire - Press Release Distribution Service

Published on July 25, 2024 - 17:48 GMT

IRS continues to expand taxpayer services and online tools, key milestones reached with Inflation Reduction Act funding

IR-2024-196, July 25, 2024 WASHINGTON — As part of ongoing transformation efforts, the Internal Revenue Service announced today continued progress on a variety of taxpayer service and technology projects using Inflation Reduction Act (IRA) funding that …

Distribution channels: Business & Economy

Published on July 25, 2024 - 01:55 GMT

Registration still open for IRS Tax Forum in Baltimore, Dallas; 3-day conference features education and more for tax pros

IR-2024-195, July 24, 2024 WASHINGTON — With several locations already sold out, the Internal Revenue Service today encouraged tax professionals to register soon for a spot at the upcoming IRS Nationwide Tax Forum in Baltimore, Aug. 13-15, or Dallas, Aug. …

Distribution channels: Business & Economy

Published on July 24, 2024 - 19:48 GMT

IRS issues guidance for the procedures to claim a credit for utilization of carbon oxide

IR-2024-194, July 24, 2024 WASHINGTON — The Internal Revenue Service today issued Notice 2024-60 PDF to provide initial guidance on the credit for the sequestration of carbon oxide. This credit was amended significantly by the Inflation Reduction Act of …

Distribution channels: Business & Economy

Published on July 23, 2024 - 21:34 GMT

Security Summit urges tax pros to watch out for identity theft red flags

IR-2024-193, July 23, 2024 WASHINGTON — In the third part of a special series, the Internal Revenue Service and the Security Summit partners today urged tax professionals to learn the signs of data theft so they can respond quickly to protect their …

Distribution channels: Business & Economy

Published on July 22, 2024 - 23:30 GMT

IRS provides relief to Hurricane Beryl victims in Texas; various deadlines postponed to Feb. 3, 2025

IR-2024-191, July 22, 2024 WASHINGTON — The Internal Revenue Service announced today tax relief for individuals and businesses in 67 Texas counties affected by Hurricane Beryl that began on July 5, 2024. These taxpayers now have until Feb. 3, 2025, to file …

Distribution channels: Business & Economy

Published on July 22, 2024 - 23:30 GMT

IRS.gov offers Free File service, other resources; provides extension filers summertime help ahead of October deadline

IR-2024-192, July 22, 2024 WASHINGTON — The Internal Revenue Service today encouraged taxpayers who requested an extension of time to file their taxes to consider using IRS Free File and other resources on IRS.gov to help them file over the summer rather …

Distribution channels: Business & Economy

Published on July 18, 2024 - 19:36 GMT

IRS enhances FATCA registration website by requiring users to establish multi-factor authentication

IR-2024-189, July 17, 2024 WASHINGTON — The Internal Revenue Service today announced the agency will enhance the identity authentication process that financial institutions can use to register under the Foreign Account Tax Compliance Act (FATCA). Taxpayers …

Distribution channels: Business & Economy

Published on July 18, 2024 - 19:36 GMT

Treasury, IRS issue updated guidance on required minimum distributions from IRAs, other retirement plans; generally retains ...

IR-2024-190, July 18, 2024 WASHINGTON — The Department of the Treasury and the Internal Revenue Service today issued final regulations updating the required minimum distribution (RMD) rules. The final regulations reflect changes made by the SECURE Act and …

Distribution channels: Business & Economy

Published on July 17, 2024 - 21:45 GMT

IRS enhances FATCA registration website by requiring users to authenticate their identities

IR-2024-189, July 17, 2024 WASHINGTON — The Internal Revenue Service today announced the agency will enhance the identity authentication process that financial institutions can use to register under the Foreign Account Tax Compliance Act (FATCA). Taxpayers …

Distribution channels: Business & Economy

Published on July 16, 2024 - 16:07 GMT

Security Summit warns tax pros to remain vigilant against phishing emails and cloud-based attacks

IR-2024-188, July 16, 2024 WASHINGTON — In the second installment of a special series, the Internal Revenue Service and Security Summit partners warned tax professionals to be aware of evolving phishing scams and cloud-based schemes designed to steal …

Distribution channels: Business & Economy

Published on July 15, 2024 - 19:19 GMT

IRS warns taxpayers about misleading claims about non-existent “Self Employment Tax Credit;” promoters, social media peddling ...

IR-2024-187, July 15, 2024 WASHINGTON — The Internal Revenue Service issued a consumer alert today following bad advice circulating on social media about a non-existent “Self Employment Tax Credit” that’s misleading taxpayers into filing false claims. …

Distribution channels: Business & Economy

Published on July 12, 2024 - 00:55 GMT

IRS reminds car dealers and sellers to be aware of phishing scams

IR-2024-186, July 11, 2024 WASHINGTON — The Internal Revenue Service would like to remind car dealers and sellers to be aware of evolving phishing and smishing scams that could impact day-to-day operations of the business. In light of the recent ransomware …

Distribution channels: Business & Economy

Published on July 11, 2024 - 18:13 GMT

IRS tops $1 billion in past-due taxes collected from millionaires; compliance efforts continue involving high-wealth groups, ...

IR-2024-185, July 11, 2024 WASHINGTON — As part of continuing compliance efforts under the Inflation Reduction Act, the Internal Revenue Service today announced the agency has surpassed the $1 billion mark in collections from high-wealth taxpayers with …

Distribution channels: Business & Economy

Published on July 10, 2024 - 21:17 GMT

Treasury, IRS issue frequently asked questions regarding registration for the Clean Fuel Production Credit

IR-2024-184, July 10, 2024 WASHINGTON — The Internal Revenue Service today issued frequently asked questions (FAQs) in Fact Sheet 2024-25 related to which entities must apply for registration for the Clean Fuel Production Credit. The Inflation Reduction …

Distribution channels: Business & Economy

Published on July 9, 2024 - 16:15 GMT

New, evolving scams threaten tax professionals; Security Summit warns extra attention needed on trending threats that could affect ...

IR-2024-183, July 9, 2024 WASHINGTON — The Internal Revenue Service and the Security Summit renewed a warning today to tax professionals to be on the lookout for a variety of new and evolving schemes aimed at stealing business and taxpayer information. …

Distribution channels: Business & Economy

Published on July 4, 2024 - 00:18 GMT

IRS warns of new scam targeting Clean energy tax credit

IR-2024-182, July 3, 2024 WASHINGTON — The Internal Revenue Service today warned taxpayers not to fall victim to a new emerging scam involving buying clean energy tax credits. In this latest scam, the IRS is seeing instances where unscrupulous tax return …

Distribution channels: Business & Economy

Published on July 3, 2024 - 17:28 GMT

IRS reminder to disaster victims in three states: July 15 filing and payment deadline nears; others face due dates later this ...

IR-2024-181, July 3, 2024 WASHINGTON — The Internal Revenue Service today reminded individuals and businesses in parts of Alaska, Maine and Rhode Island that their 2023 federal income tax returns and tax payments are due on Monday, July 15, 2024. The IRS …

Distribution channels: Business & Economy

Published on July 2, 2024 - 19:54 GMT

Tax pros continue to be targeted by identity thieves; IRS, Security Summit urge continued vigilance against evolving threats as ...

IR-2024-180, July 2, 2024 WASHINGTON — With new and evolving scams emerging, the Internal Revenue Service and the Security Summit partners today announced the start of the special summer Protect Your Clients; Protect Yourself campaign to help tax …

Distribution channels: Business & Economy

Published on June 29, 2024 - 03:48 GMT

Treasury, IRS issue final regulations requiring broker reporting of sales and exchanges of digital assets that are subject to tax ...

IR-2024-178, June 28, 2024 WASHINGTON — The U.S. Department of the Treasury and the Internal Revenue Service today issued final regulations requiring custodial brokers to report sales and exchanges of digital assets, including cryptocurrency. These …

Distribution channels: Business & Economy

Published on June 29, 2024 - 03:48 GMT

Treasury and IRS announce final regulations on how to report and pay the corporate stock repurchase excise tax

IR-2024-179, June 28, 2024 WASHINGTON — The Department of the Treasury and the Internal Revenue Service today issued final regulations that provide taxpayers and tax professionals with guidance on how to report and pay the 1 percent excise tax owed on …

Distribution channels: Business & Economy