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

Published on October 15, 2024 - 20:01 GMT

IRS warns taxpayers of charity scams following recent hurricanes; provides tools to help people verify legitimate groups

IR-2024-269, Oct. 15, 2024 WASHINGTON — In the aftermath of Hurricanes Milton and Helene, the Internal Revenue Service today cautioned taxpayers of scammers who use fake charities to gather sensitive personal and financial data from unsuspecting donors. …

Distribution channels: Business & Economy

Published on October 15, 2024 - 20:01 GMT

IRS launches 2024 Nationwide Tax Forum Online: Tax professionals can now access new online seminars

IR-2024-270, Oct. 15, 2024 WASHINGTON — The Internal Revenue Service today announced the launch of the 2024 Nationwide Tax Forum Online, providing tax professionals access to 18 seminars recorded at this year's IRS Nationwide Tax Forum. The Nationwide …

Distribution channels: Business & Economy

Published on October 15, 2024 - 20:01 GMT

IRS provides free Nov. 18 webinar on Compliance Assurance Process to help large businesses

IR-2024-271, Oct. 15, 2024 WASHINGTON — The Internal Revenue Service will offer a free webinar to help large business taxpayers understand the Compliance Assurance Process (CAP) by discussing updates and clarifications to the program to better prepare …

Distribution channels: Business & Economy

Published on October 12, 2024 - 01:10 GMT

IRS help available to victims of Hurricanes Helene and Milton; May 1 deadline now applies to individuals and businesses

IR-2024-266, Oct. 11, 2024 WASHINGTON — In the wake of the devastating hurricanes that have ravaged Florida and the Southeast in recent weeks, the Internal Revenue Service today reassured victims that it stands ready to provide the tax-related assistance …

Distribution channels: Business & Economy

Published on October 12, 2024 - 01:10 GMT

IRS announces extension of time for certain applicable entities to make an elective payment election on Form 990-T

IR-2024-267, Oct. 11, 2024 WASHINGTON — The Internal Revenue Service announced today in Revenue Procedure 2024-39 PDF. that grants certain applicable entities that are making an elective payment election a six-month automatic extension of time to file an …

Distribution channels: Business & Economy

Published on October 12, 2024 - 01:10 GMT

IRS relief now available to Watch Fire victims in the San Carlos Apache Tribe in Arizona; multiple deadlines postponed to Feb. 3, ...

IR-2024-268, Oct. 11, 2024 WASHINGTON — The Internal Revenue Service today announced disaster tax relief for individuals and businesses of the San Carlos Apache Tribe in the state of Arizona affected by the Watch Fire that began on July 10, 2024. Affected …

Distribution channels: Business & Economy

Published on October 11, 2024 - 16:15 GMT

IRS provides Hurricane Milton relief; May 1 deadline now applies to individuals and businesses in all of Florida; many businesses ...

IR-2024-264, Oct. 11, 2024 WASHINGTON — Due to Hurricane Milton, the Internal Revenue Service today announced relief for individuals and businesses in 51 counties in Florida. Individuals and businesses in six counties that previously did not qualify for …

Distribution channels: Business & Economy

Published on October 11, 2024 - 16:15 GMT

IRS granting dyed diesel penalty relief as a result of Hurricane Milton

IR-2024-265, Oct. 11, 2024 WASHINGTON — In response to disruptions resulting from Hurricane Milton, the Internal Revenue Service will not impose a penalty when dyed diesel fuel with a sulfur content that does not exceed 15 parts-per-million is sold for use …

Distribution channels: Business & Economy

Published on October 10, 2024 - 23:34 GMT

IRS releases 2022 tax gap projections; voluntary compliance rate among taxpayers remains steady

IR-2024-262, Oct. 10, 2024 WASHINGTON — The Internal Revenue Service today released the tax gap projections for tax year 2022, a detailed analysis showing the nation’s projected gross tax gap at $696 billion. This reflects the difference between projected …

Distribution channels: Business & Economy

Published on October 10, 2024 - 23:34 GMT

IRS accelerates work on Employee Retention Credit claims; agency currently processing 400,000 claims worth about $10 billion

IR-2024-263, Oct. 10, 2024 WASHINGTON —The Internal Revenue Service announced today continued progress on Employee Retention Credit claims, with processing underway on about 400,000 claims, representing about $10 billion of eligible claims. Work on the …

Distribution channels: Business & Economy

Published on October 8, 2024 - 09:21 GMT

Treasury and IRS issue proposed regulations providing clarity regarding the federal tax classification of entities entirely owned ...

IR-2024-261, Oct. 7, 2024 WASHINGTON — The Department of the Treasury and the Internal Revenue Service today issued proposed regulations addressing the federal tax classification of corporations or LLCs that are owned entirely by Indian Tribal governments …

Distribution channels: Business & Economy

Published on October 7, 2024 - 16:35 GMT

Treasury and IRS issue final regulations identifying syndicated conservation easement transactions as abusive tax transactions

IR-2024-259, October 7, 2024 WASHINGTON — The Department of the Treasury and the Internal Revenue Service today issued final regulations identifying certain syndicated conservation easement transactions as "listed transactions" – abusive tax …

Distribution channels: Business & Economy

Published on October 7, 2024 - 16:35 GMT

IRS reminds taxpayers of Oct. 15 tax-filing extension deadline; combat zones, disaster areas, Israel have more time

IR-2024-260, Oct. 7, 2024 WASHINGTON — The Internal Revenue Service today encouraged taxpayers to file their 2023 tax year federal income tax return on or before the upcoming Tuesday, Oct. 15, 2024, deadline to avoid possible late filing penalties. …

Distribution channels: Business & Economy

Published on October 4, 2024 - 01:37 GMT

Treasury and IRS issue guidance on long-term, part-time employees in 403(b) retirement plans and announce delayed applicability ...

IR-2024-257, Oct. 3, 2024 WASHINGTON — The Department of the Treasury and the Internal Revenue Service today issued guidance addressing long-term, part-time employees in 403(b) retirement plans under the SECURE 2.0 Act, which applies to 403(b) plans …

Distribution channels: Business & Economy

Published on October 4, 2024 - 01:37 GMT

IRS relief now available to wildfire victims in parts of Washington; multiple deadlines postponed to Feb. 3, 2025

IR-2024-256, Oct. 3, 2024 WASHINGTON — The Internal Revenue Service today announced disaster tax relief for individuals and businesses in the Confederated Tribes and Bands of the Yakama Nation in Washington state affected by wildfires that began on June 22 …

Distribution channels: Business & Economy

Published on October 4, 2024 - 01:37 GMT

IRS Direct File set to expand availability in a dozen new states and cover wider range of tax situations for the 2025 tax filing ...

IR-2024-258, Oct. 3, 2024 WASHINGTON — The Internal Revenue Service announced today that Direct File will be available for the 2025 tax filing season in double the number of states than last year’s pilot, and it will cover a wider range of tax situations, …

Distribution channels: Business & Economy

Published on October 3, 2024 - 07:45 GMT

IRS employees help Hurricane Helene efforts; 500 phone assistors supporting FEMA, Criminal Investigation agents work on rescue ...

IR-2024-255, Oct. 2, 2024 WASHINGTON — As part of efforts to help victims of Hurricane Helene, the Internal Revenue Service is taking special steps to provide more than 500 employees to help with the Federal Emergency Management Agency’s (FEMA) disaster …

Distribution channels: Business & Economy

Published on October 2, 2024 - 05:55 GMT

IRS relief now available to storm victims in parts of Illinois; multiple deadlines postponed to Feb. 3, 2025

IR-2024-250, Oct. 1, 2024 WASHINGTON — The Internal Revenue Service today announced disaster tax relief for individuals and businesses in parts of Illinois affected by severe storms, tornadoes, straight-line winds and flooding that began on July 13, 2024. …

Distribution channels: Business & Economy

Published on October 2, 2024 - 05:55 GMT

IRS announces new relief for taxpayers affected by terrorist attacks in Israel: 2023 and 2024 returns and payments are now due ...

IR-2024-252, Oct. 1, 2024 WASHINGTON — The Internal Revenue Service announced today that due to recent terrorist attacks in Israel, the agency is providing additional tax relief to affected individuals and businesses, postponing until Sept. 30, 2025, a …

Distribution channels: Business & Economy

Published on October 1, 2024 - 21:58 GMT

IRS provides relief for Helene; various deadlines postponed to May 1, 2025; part or all of 7 states qualify

IR-2024-253, Oct. 1, 2024 WASHINGTON — The Internal Revenue Service today announced disaster tax relief for all individuals and businesses affected by Hurricane Helene, including the entire states of Alabama, Georgia, North Carolina and South Carolina and …

Distribution channels: Business & Economy