In response to the COVID-19 pandemic, the IRS has granted foreign financial institutions a number of extensions on Foreign Account Tax Compliance Act reporting obligations due in 2020...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
The COVID-19 pandemic and the President’s declaration of a national emergency have upended the Internal Revenue Service’s enforcement agenda in a dramatic way, both in the short term and for the feasible future. Already...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
In response to the COVID-19 pandemic, the Internal Revenue Service has agreed to extend many deadlines. One such extension affords foreign financial institutions more time to file Form 8966. Form 8966 is the annual...more
The Internal Revenue Service today announced that distribution of economic impact payments will begin in the next three weeks and will be distributed automatically, with no action required for most individuals. However, some...more
3/31/2020
/ CARES Act ,
Coronavirus/COVID-19 ,
Federal Taxes ,
Filing Requirements ,
Financial Stimulus ,
Income Taxes ,
IRS ,
Online Payments ,
Tax Code ,
Tax Deductions ,
Tax Relief
The Federal News Network is reporting that the due to the coronavirus pandemic, the IRS issued an evacuation notice Friday afternoon directing that nearly all of its employees work from home on mandatory telework starting...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
Yesterday the Treasury Department and Internal Revenue Service announced that Erin M. Collins has been appointed National Taxpayer Advocate. Collins succeeds Nina E. Olson, who served as the as National Taxpayer Advocate...more
The Internal Revenue Service has announced an overwhelming acceptance rate for a time-limited settlement offer made to certain taxpayers under audit who participated in abusive micro-captive insurance transactions. Nearly 80%...more
The Internal Revenue Service is urging taxpayers involved in syndicated conservation easement transactions to consult with their tax advisors following a recent U.S. Tax Court decision. The IRS also plans to continue...more
The Internal Revenue Service announced today a significant increase in enforcement actions for syndicated conservation easement transactions, a priority compliance area. According to the announcement, coordinated audits are...more
The Internal Revenue Service announced Friday that it has begun mailing what it calls “educational letters” to taxpayers with cryptocurrency transactions who potentially failed to report income and pay the resulting tax from...more
Earlier this week, the Internal Revenue Service’s Large Business & International Division announced six more compliance campaigns, bringing the total number of campaigns announced to date to a whopping 59. These campaigns...more
Earlier this week, the Attorneys General of New Jersey, New York, and Connecticut sued the Treasury Department and the Internal Revenue Service challenging a new IRS rule that would preclude individuals in those states from...more
Yesterday, the Internal Revenue Service’s Large Business and International division (LB&I) announced three additional compliance campaigns, bringing the total number of campaigns announced to date to 53. These campaigns...more
Yesterday the IRS announced the results of a nationwide two-week “education and enforcement campaign” regarding employment tax compliance. For several years, the IRS has made employment tax compliance a top enforcement...more
With April 15 just around the corner, the Justice Department’s Tax Division has issued its annual public warning to would-be tax cheats. It is no secret that the Justice Department and Internal Revenue Service significantly...more
The Internal Revenue Service has included tax return preparer fraud on its “Dirty Dozen” list of common tax scams for 2019 and offered tips to help taxpayers avoid unscrupulous tax preparers. With the Tax Cuts and Jobs Act,...more
Despite a steep drop in tax-related identity theft in recent years, the Internal Revenue Service warns taxpayers that the scam remains serious enough to earn a spot on the 2019 “Dirty Dozen” list of tax scams. “Taxpayers...more
In the second installment of its annual “Dirty Dozen” list, the Internal Revenue Service is warning taxpayers to be alert to tax time phone scams where aggressive criminals pose as IRS agents in hopes of stealing money or...more
With the 2019 tax filing season in full swing, and April 15 only a few days away, the Internal Revenue Service has once again unveiled its annual list of the most prevalent tax scams facing taxpayers and tax professionals,...more