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Treasury, IRS and Labor announce Coronavirus-related paid leave for workers

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…
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Tax Day now July 15: Treasury, IRS extend filing deadline

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…
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IRS updates guidance on deductions for meals and entertainment

WASHINGTON — The Internal Revenue Service issued proposed regulations on the business expense deduction for meals and entertainment following changes made by the Tax Cuts and Jobs Act (TCJA). The 2017 TCJA eliminated the deduction for…

Some popular tax benefits renewed for 2019

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…
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IRS: Don’t be victim to "ghost" tax return preparers

WASHINGTON — With the start of the 2020 tax filing season near, the Internal Revenue Service is reminding taxpayers to avoid unethical "ghost" tax return preparers. According to the IRS, a ghost preparer does not sign a tax return they…
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IRS kicks off 2020 tax filing season with returns due April 15

WASHINGTON ― The Internal Revenue Service successfully opened the 2020 tax filing season today as the agency begins accepting and processing federal tax returns for tax year 2019. The deadline to file a 2019 tax return and pay any tax owed…
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Jan. 31 filing deadline to file independent contractor forms

WASHINGTON — With just a few days remaining until the deadline, the Internal Revenue Service reminds employers and other businesses that January 31 is the filing deadline for submitting wage statements and forms for independent contractors…
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Get Ready for Taxes: What to do before the tax year ends December 31

WASHINGTON — The Internal Revenue Service reminds taxpayers there are things they should do now to get ready for the tax-filing season ahead. Charitable Contributions For most taxpayers, December 31 is the last day to take actions that will…
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IRS provides tax inflation adjustments for tax year 2020

WASHINGTON — The Internal Revenue Service today announced the tax year 2020 annual inflation adjustments for more than 60 tax provisions, including the tax rate schedules and other tax changes. Revenue Procedure 2019-44 (PDF) provides details…