The American Institute of CPAs (AICPA) has applauded the Internal Revenue Service for granting automatic penalty relief related to select 2019 and 2020 returns, but asked for two tweaks to the process:
The group wants...more
The Internal Revenue Service plans to provide widespread penalty relief for the late filing of certain tax and information returns for the 2019 and 2020 tax years.
According to Notice 2022-36, this latest penalty relief...more
On October 14, 2020, FinCEN posted an incorrect message on its Bank Secrecy Act (BSA) E-Filing website. The message incorrectly stated there was a new filing extension until December 31, 2020, for all filers of Reports of...more
The Treasury Department’s Financial Crimes Enforcement Network (FinCEN) has announced that victims of the California Wildfires, the Iowa Derecho, Hurricane Laura, the Oregon Wildfires, and Hurricane Sally have until December...more
The Internal Revenue Service has published two Frequently Asked Questions about how taxpayers can seek release of tax levies and federal tax liens due to hardship circumstances caused by the COVID-19 pandemic. The FAQs can...more
Providing additional relief to taxpayers affected by the COVID-19 pandemic, the Internal Revenue Service has extended a wide array of key tax deadlines for individuals and businesses to July 15, 2020. Last month, the IRS...more
As a follow-up to its announcement that the April 15 income tax filing deadline is extended to July 15, the Internal Revenue Service has created a series of Frequently Asked Questions to address common questions that may...more
As a follow-up to its prior announcement that the April 15 income tax filing deadline is extended to July 15 due to the COVID-19 pandemic, the Treasury Department has announced a similar extension of the filing deadline for...more
Treasury Secretary Steven Mnuchin announced on Twitter this morning that the April 15 tax filing deadline has been extended to July 15 due to the health crisis caused by the coronavirus outbreak....more
As a follow-up to our prior post, the Treasury Department and the Internal Revenue Service have released additional details regarding the extension of the federal income tax filing due date from April 15, 2020, to July 15,...more
Following the lead of the Internal Revenue Service, the Pennsylvania Department of Revenue announced yesterday that the deadline for taxpayers to file their 2019 Pennsylvania personal income tax returns is extended to July...more
Despite the government shutdown, the Internal Revenue Service has announced that it will process tax returns beginning January 28, 2019, and will provide refunds to taxpayers as scheduled.
...more
On December 4, 2018, the Treasury Department’s Financial Crimes Enforcement Network (FinCEN) announced a further extension of time for Report of Foreign Bank and Financial Accounts (FBAR) filings for certain individuals with...more
The Internal Revenue Service announced today that it is providing taxpayers an additional day to file their tax returns following a computer problem that arose early in the morning on April 17, the tax filing deadline....more
Today the Treasury Department’s Financial Crimes Enforcement Network posted a “FBAR Due Date Clarification” on its website, which confirms that the annual filing deadline for FinCEN Form 114 (commonly referred to as the FBAR...more
The Internal Revenue Service said today that it successfully started accepting and processing 2017 federal individual income tax returns. More than 155 million returns are expected to be filed this year.
The filing...more