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

Published on August 28, 2024 - 20:07 GMT

IRS provides relief to Ernesto victims throughout the U.S. Virgin Islands; various deadlines postponed to Feb. 3, 2025

IR-2024-226, Aug. 28, 2024 WASHINGTON — The Internal Revenue Service announced today tax relief for individuals and businesses throughout the U.S. Virgin Islands affected by Tropical Storm Ernesto that began on Aug. 13, 2024. These taxpayers now have until …

Distribution channels: Business & Economy

Published on August 28, 2024 - 03:24 GMT

IRS encourages people to do an end-of-summer tax checkup to avoid tax surprises next year

IR-2024-225, Aug. 27, 2024 WASHINGTON — The Internal Revenue Service today encouraged taxpayers to consider using the end of the summer to make tax withholding or payment updates to avoid a potential surprise next year at tax time. While most taxpayers get …

Distribution channels: Business & Economy

Published on August 27, 2024 - 20:46 GMT

Security Summit partners conclude special campaign with reminders to protect tax professionals from identity theft, security ...

IR-2024-224, Aug. 27, 2024 WASHINGTON — Concluding a special summer awareness campaign, the Internal Revenue Service and the Security Summit today urged tax professionals to maintain strong safety measures to protect themselves and their taxpayer clients …

Distribution channels: Business & Economy

Published on August 23, 2024 - 21:29 GMT

IRS provides relief to Ernesto victims throughout Puerto Rico; various deadlines postponed to Feb. 3, 2025

IR-2024-221, Aug. 23, 2024 WASHINGTON — The Internal Revenue Service announced today tax relief for individuals and businesses throughout Puerto Rico affected by Tropical Storm Ernesto that began on Aug. 13, 2024. These taxpayers now have until Feb. 3, …

Distribution channels: Business & Economy

Published on August 23, 2024 - 21:29 GMT

IRS provides relief to South Dakota victims of severe storms, straight-line winds, flooding; various deadlines postponed to Feb. 3,...

IR-2024-222, Aug. 23, 2024 WASHINGTON — The Internal Revenue Service announced today tax relief for individuals and businesses in South Dakota that were affected by severe storms, straight-line winds and flooding that began on June 16, 2024. These …

Distribution channels: Business & Economy

Published on August 23, 2024 - 21:29 GMT

Inflation Reduction Act 2-year report card: IRS continues to improve service, modernize online tools, pursue complex taxpayer ...

IR-2024-223, Aug. 23, 2024 WASHINGTON — The IRS has made significant progress on a range of improvements, including that all taxpayers can do all of their interactions with the IRS digitally if they choose, making it possible for the IRS to uncover and …

Distribution channels: Business & Economy

Published on August 21, 2024 - 23:56 GMT

Interest rates remain the same for the fourth quarter of 2024

IR-2024-220, Aug. 21, 2024 WASHINGTON — The Internal Revenue Service today announced interest rates will remain the same for the calendar quarter beginning Oct. 1, 2024. For individuals, the rate for overpayments and underpayments will be 8% per year, …

Distribution channels: Business & Economy

Published on August 21, 2024 - 23:16 GMT

IRS reminder for schoolteachers: Up to $300 in classroom expenses deductible for 2024

IR-2024-219, Aug. 21, 2024 WASHINGTON — As educators gear up for the new school year, the IRS reminds schoolteachers that the maximum deduction for classroom expenses in 2024 remains at $300. This deduction allows educators to offset the cost of supplies, …

Distribution channels: Business & Economy

Published on August 20, 2024 - 23:29 GMT

IRS, Security Summit highlight “Security Six” and key steps for tax pros to protect themselves

IR-2024-218, Aug. 20, 2024 WASHINGTON — As data thieves continue evolving their tactics, the Internal Revenue Service and the Security Summit partners today reminded tax professionals of six essential steps to protect their sensitive taxpayer information. …

Distribution channels: Business & Economy

Published on August 20, 2024 - 00:44 GMT

IRS issues important interim guidance on employer matching contributions made to retirement plans related to employee student loan ...

IR-2024-217, Aug. 19, 2024 WASHINGTON — The Internal Revenue Service today issued interim guidance for sponsors of 401(k) and similar retirement plans that provide, or wish to provide, matching contributions based on eligible student loan payments made by …

Distribution channels: Business & Economy

Published on August 19, 2024 - 17:04 GMT

Child and Dependent Care tax credit can help offset summer day camp expenses

IR-2024-216, Aug. 19, 2024 WASHINGTON — The Internal Revenue Service today reminded taxpayers that summer day camp expenses may count towards the Child and Dependent Care tax credit. Many working parents arrange for care of their younger children under age …

Distribution channels: Business & Economy

Published on August 16, 2024 - 19:55 GMT

IRS, states, tax industry announce new joint effort to combat growing scams and schemes; ongoing coordination to follow in ...

IR-2024-215, Aug. 16, 2024 WASHINGTON — A coalition representing the Internal Revenue Service, state tax agencies and the spectrum of the nation’s tax industry today announced a new joint effort to combat the growth of scams and schemes threatening …

Distribution channels: Business & Economy

Published on August 15, 2024 - 21:20 GMT

IRS accepting applicants for 2025 Compliance Assurance Process with expanded eligibility criteria

IR-2024-211, Aug. 15, 2024 WASHINGTON — The Internal Revenue Service today announced the opening of the application period for the 2025 Compliance Assurance Process (CAP) program, which will run from Sept. 4 to Oct. 31, 2024. The IRS will inform applicants …

Distribution channels: Business & Economy

Published on August 15, 2024 - 21:20 GMT

IRS reopens Voluntary Disclosure Program to help businesses with problematic Employee Retention Credit claims; sending up to 30,...

IR-2024-212, Aug. 15, 2024 WASHINGTON —The Internal Revenue Service announced today a limited time reopening of the Voluntary Disclosure Program to help businesses fix incorrect Employee Retention Credit claims as the agency continues compliance work. The …

Distribution channels: Business & Economy

Published on August 15, 2024 - 21:20 GMT

IRS reminds truckers of upcoming tax deadline

IR-2024-214, Aug. 15, 2024 WASHINGTON — The Internal Revenue Service reminds those who operate large trucks and buses that the deadline for filing Form 2290, Heavy Highway Vehicle Use Tax Return PDF, is Tuesday, Sept. 3, 2024, for vehicles used in July …

Distribution channels: Business & Economy

Published on August 15, 2024 - 21:20 GMT

IRS provides details of second Employee Retention Credit Voluntary Disclosure Program; program for improper claims open through ...

IR-2024-213, Aug. 15, 2024 WASHINGTON — The Internal Revenue Service urged businesses that have received Employee Retention Credit payments to recheck eligibility requirements and consider the second Employee Retention Credit (ERC) Voluntary Disclosure …

Distribution channels: Business & Economy

Published on August 14, 2024 - 22:30 GMT

IRS encourages organizations planning to claim elective pay to complete pre-filing registration now for 2023 tax year

IR-2024-210, Aug. 14, 2024 WASHINGTON — The Internal Revenue Service strongly urges qualifying businesses, tax-exempt organizations, and state, local and Indian tribal governments to complete the pre-filing registration process now for projects placed in …

Distribution channels: Business & Economy

Published on August 13, 2024 - 23:30 GMT

IRS, Security Summit release new Written Information Security Plan to help tax pros protect against identity thieves, data risks

IR-2024-208, Aug. 13, 2024 WASHINGTON — The Internal Revenue Service and the Security Summit partners today announced the availability of a new, updated Written Information Security Plan designed to help protect tax professionals against continuing threats …

Distribution channels: Business & Economy

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