IRS News

IRS delaying filing until February twelve. The IRS is delaying the start of the 2020 tax filing season to February 12, according to an announcement from the agency. On that date, the IRS will start accepting and processing last year's tax returns.... Read More

IRS regulations on carbon capture. The treasury department and Internal Revenue Service issued final regulations regarding the credit for qualified carbon oxide captured using carbon capture equipment placed in service on or after February 9, 2018... Read More

IRS urges protection of tax software. The IRS and its Security Summit partners called on tax professionals and taxpayers to use the free, multi factor authentication feature being offered on tax preparation software products. Already, nearly two d... Read More

2021 IRA contribution limits. Retirement savers will be able to defer paying income tax on up to $6,000 in an individual retirement account in 2021. Workers with slightly higher incomes will also be eligible to save for retirement in traditional a... Read More

IRS selects ten new tax members. In Internal Revenue Bulletin 2020-208, the IRS released the newest 10 members for the Electronic Tax Administration Advisory Committee (ETAAC). Established in 1998, the ETAAC, is a public forum for the discussion o... Read More

IRS withholding calculator. Most people are unaware of the IRS withholding calculator. We are often asked the question, am I withholding enough from my taxes to cover what I will owe ?  This question comes up usually around tax filing season, but ... Read More

Rights of taxpayers relying on IRS advice. Consider a scenario where a taxpayer is filing a tax return, and in preparing that return, wonders whether a particular expense is deductible. He goes to the IRS website and finds a "Frequently Asked Ques... Read More

Path Act and IRS. The Protecting Americans from Tax Hikes Act of 2015, or path act, enacted less than a year and a half ago on Dec. 18, 2015, has generated a number of questions, some of which the IRS has recently tried to address and others that ... Read More

IRS wants some relief checks back. The IRS has made some mistakes with the relief check program, and now Uncle Sam is asking for his money back. Ever since the CARES Act passed and promised coronavirus relief payments of up to $1200 per adult to m... Read More

IRS grants virus tax relief. Whenever the economy or our Nation encounters an event that shakes the foundations of our society, and impacts the economy in its wake, eventually the IRS reacts and issues memorandums and notices, granting taxpayers a... Read More