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

Published on August 13, 2024 - 23:30 GMT

Hurricane Debby relief expanded to all of Vermont; various deadlines postponed to Feb. 3, 2025

IR-2024-209, Aug. 13, 2024 WASHINGTON — The Internal Revenue Service today announced tax relief for individuals and businesses affected by Hurricane Debby in all 14 Vermont counties. Affected taxpayers in Vermont now have until Feb. 3, 2025, to file …

Distribution channels: Business & Economy

Published on August 13, 2024 - 00:43 GMT

IRS provides relief to Minnesota victims of severe storms, flooding; various deadlines postponed to Feb. 3, 2025

IR-2024-207, Aug. 12, 2024 WASHINGTON — The Internal Revenue Service announced today tax relief for individuals and businesses in 25 Minnesota counties affected by severe storms and flooding that began on June 16, 2024. These taxpayers now have until Feb. …

Distribution channels: Business & Economy

Published on August 12, 2024 - 17:22 GMT

IRS reminds taxpayers of convenient option to electronically request relief for certain late-filed international documents, forms ...

IR-2024-206, Aug. 12, 2024 WASHINGTON — The Internal Revenue Service today reminded taxpayers of the ability to submit electronic requests for relief for certain late-filed international documents. As part of a step toward full digitalization, the …

Distribution channels: Business & Economy

Published on August 9, 2024 - 20:24 GMT

IRS updates draft version of Form 1099-DA, Digital Asset Proceeds From Broker Transactions; requests comments on form planned for ...

IR-2024-204, Aug. 9, 2024 WASHINGTON — The Internal Revenue Service today posted an early draft of the updated Form 1099-DA, which is the form for brokers to report certain sale and exchange transactions of digital assets that take place beginning in …

Distribution channels: Business & Economy

Published on August 9, 2024 - 20:24 GMT

IRS relief now available to Hurricane Debby victims in all of South Carolina, most of Florida and North Carolina, part of Georgia; ...

IR-2024-205, Aug. 9, 2024 WASHINGTON — The Internal Revenue Service today announced tax relief for individuals and businesses in four states affected by Hurricane Debby. Affected taxpayers in South Carolina, North Carolina, Florida and Georgia now have …

Distribution channels: Business & Economy

Published on August 8, 2024 - 21:18 GMT

IRS moves forward with Employee Retention Credit claims: Agency accelerates work on complex credit as more payments move into ...

IR-2024-203, Aug. 8, 2024 WASHINGTON — The Internal Revenue Service announced today additional actions to help small businesses and prevent improper payments in the Employee Retention Credit (ERC) program, including accelerating more payments and …

Distribution channels: Business & Economy

Published on August 7, 2024 - 21:13 GMT

Department of Treasury and IRS release Inflation Reduction Act clean energy statistics

IR-2024-202, Aug 7, 2024 WASHINGTON — The Department of the Treasury and the Internal Revenue Service today issued statistics on the Inflation Reduction Act clean energy tax credits for tax year 2023. The Inflation Reduction Act, or IRA, extended and …

Distribution channels: Business & Economy

Published on August 6, 2024 - 22:11 GMT

Multi-factor authentication: Key protection to tax professionals’ security arsenal now required

IR-2024-201, Aug. 6, 2024 WASHINGTON — The Internal Revenue Service and the Security Summit partners remind tax professionals that using multi-factor authentication is now more than an important protection for their businesses and their clients – it’s now …

Distribution channels: Business & Economy

Published on July 30, 2024 - 23:36 GMT

Security Summit: Identity Protection PINs, IRS Online Account protect against tax-related identity theft

IR-2024-200, July 30, 2024 WASHINGTON — In the fourth part of a special summer series, the Security Summit partners today reminded tax professionals and taxpayers about the special IRS Identity Protection PIN program and the IRS online accounts that can …

Distribution channels: Business & Economy

Published on July 30, 2024 - 00:32 GMT

IRS Whistleblower Office celebrates National Whistleblower Day; over $7 billion in collected proceeds thanks to whistleblowers

IR-2024-199, July 29, 2024 WASHINGTON — In anticipation of National Whistleblower Appreciation Day on July 30, the Internal Revenue Service Whistleblower Office today recognized the important role whistleblowers play in supporting the nation’s tax …

Distribution channels: Business & Economy

Published on July 26, 2024 - 23:10 GMT

IRS shares more warning signs of incorrect claims for the Employee Retention Credit; urges businesses to proactively resolve ...

IR-2024-198, July 26, 2024 WASHINGTON — As the Internal Revenue Service intensifies work on the Employee Retention Credit, the agency today shared five new warning signs being seen on incorrect claims by businesses. The new list comes from common issues …

Distribution channels: Business & Economy

Published on July 26, 2024 - 15:21 GMT

Updated frequently asked questions on New, Previously Owned and Qualified Commercial Clean Vehicle Credits now available from the ...

IR-2024-197, July 26, 2024 WASHINGTON — The Internal Revenue Service today updated frequently asked questions in Fact Sheet 2024-26 PDF to provide guidance related to eligibility rules, income limitations, transfer rules and dealer registration for the New …

Distribution channels: Business & Economy

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