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IRS reminds eligible 2020 and 2021 non-filers to claim Recovery Rebate Credit

WASHINGTON — The Internal Revenue Service is reminding those who may be entitled to the Recovery Rebate Credit to file a tax return and claim their money before it's too late. The vast majority of those eligible for Economic Impact Payments…
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Saver’s Credit can help low and moderate income taxpayers to save more in 2024

WASHINGTON —The Internal Revenue Service reminds low- and moderate-income taxpayers that they can save for retirement now and possibly earn a special tax credit in 2024 and years ahead. The Retirement Savings Contributions Credit, also…
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IRS encourages employers to electronically file payroll tax returns

WASHINGTON — The Internal Revenue Service today reminded employers that the best way to file their next quarterly payroll tax return by the Oct. 31, 2023, due date is electronically. While paper filing is available, the IRS strongly encourages…
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IRS: Beware of fake charities; check before donating

WASHINGTON — With the tragic crises and natural disasters happening around the globe, many are responding to the call to give what they can to help. The Internal Revenue Service today warned taxpayers to be wary of criminals soliciting donations…
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IRS issues guidance for the transfer of clean vehicle credits

WASHINGTON — The Internal Revenue Service issued proposed regulations, Revenue Procedure 2023-33PDF and frequently asked questions today for the transfer of new and previously owned clean vehicle credits from the taxpayer to an eligible…
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IRS launches business tax account

WASHINGTON — Following a dramatically improved 2023 filing season thanks to Inflation Reduction Act (IRA) investments, the Internal Revenue Service has targeted IRA resources on strengthening enforcement, with announcements on new initiatives…
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IRS reminds gig workers, self-employed to pay quarter estimated taxes

WASHINGTON — The Internal Revenue Service sent a reminder to taxpayers who pay estimated taxes that the deadline to submit their third quarter payment was Sept. 15, 2023. Taxpayers not subject to withholding may need to make quarterly…
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IRS clarifies rules for new corporate alternative minimum tax

WASHINGTON — The Department of Treasury and the Internal Revenue Service today issued Notice 2023-64PDF to provide additional interim guidance designed to help corporations determine whether the new corporate alternative minimum tax (CAMT)…
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Red flags for Employee Retention Credit claims

WASHINGTON — The Internal Revenue Service continues to warn businesses to watch out for aggressive marketing by nefarious actors involving the Employee Retention Credit (ERC) and urged people to watch out for red flags that can signal trouble. The…