IR-2025-04, Jan. 8, 2025 — National Taxpayer Advocate Erin M. Collins today released her 2024 Annual Report to Congress, finding overall improvement in IRS taxpayer service but also highlighting persistent challenges, particularly delays in processing Employee Retention Credit (ERC) claims and resolving Identity Theft Victim Assistance cases.
Protect Yourself series focuses on strengthening account security
IR-2024-201, Aug. 6, 2024 —The Internal Revenue Service and the Security Summit partners remind tax professionals that using multi-factor authentication is now more than an important protection for their businesses and their clients – it’s now a federal requirement.
IR-2024-157, June 7, 2024 — The Department of the Treasury and Internal Revenue Service today issued Notice 2024-48 that publishes information taxpayers may use to determine whether they meet certain requirements under the Statistical Area Category or the Coal Closure Category in Notice 2023-29 for purposes of qualifying for the Energy Community Bonus Credit.
May 2, 2024 – WASHINGTON — The Internal Revenue Service today released an update on the Strategic Operating Plan, a blueprint outlining future plans for the agency’s transformation work and highlighting dozens of improvements for taxpayers since passage of the Inflation Reduction Act.
April 19, 2024 — The Internal Revenue Service today encouraged taxpayers who missed the April tax-filing deadline to file a tax return as soon as they can. The IRS offers different resources to help those who may be unable to pay their tax bill in total. Those who missed the deadline to file but owe taxes should file quickly to minimize penalties and interest. Taxpayers should keep in mind that payments are still due by the April 15 deadline, even if they requested an extension of time to file a tax return. An extension to file is not an extension to pay.
File and pay amount owed to reduce penalties and interest
Taxpayers who still owe taxes should file their tax return and pay any taxes owed quickly to reduce penalties and interest. Until the balance is paid in full, interest and penalties accrue on taxes owed.
March 6, 2024 – WASHINGTON — The Internal Revenue Service reminds taxpayers they’re generally required to report all earned income on their tax return, including income earned from digital asset transactions, the gig economy and service industry as well as income from foreign sources.
Reporting requirements for these sources of income and others are outlined in the Instructions for Form 1040 and Form 1040-SR. The information is also available on IRS.gov.
IRS provides initial guidance to employers setting up emergency savings accounts for their employees
2024-11, Jan. 12, 2024 — The Internal Revenue Service today issued initial guidance to help employers with implementation of pension-linked emergency savings accounts (PLESAs).
Authorized under the SECURE 2.0 Act of 2022, PLESAs are individual accounts in defined contribution plans and are designed to permit and encourage employees to save for financial emergencies.
Avoid a surprise next year; review tax withholding now before time runs out
Nov. 3, 2023 — With 2023 rapidly coming to a close, the Internal Revenue Service today encouraged taxpayers to review their tax withholding as soon as possible to avoid a potential surprise when they file their tax return next year.
Digital asset public hearing rescheduled for Nov. 13
Nov. 2, 2023 — The Internal Revenue Service announced today that the hearing on proposed regulations regarding digital asset transactions currently scheduled for Nov. 7 has been rescheduled for Nov. 13, 2023.
401(k) limit increases to $23,000 for 2024, IRA limit rises to $7,000
Nov. 1, 2023 — The Internal Revenue Service announced today that the amount individuals can contribute to their 401(k) plans in 2024 has increased to $23,000, up from $22,500 for 2023.
Nov. 1, 2023 — The Internal Revenue Service announced today that sellers of clean vehicles can now register using the new IRS Energy Credits Online tool, available free from the IRS.
201, Oct. 31, 2023 — The IRS will present a free webinar, Thursday, Nov. 2, at 2 p.m. ET, to update employers and tax professionals on the most recent developments about the Employee Retention Credit (ERC). The hour-long session will include information about the freeze on ERC claims, how to withdraw claims and what ERC resources are available from the IRS.
Oct. 31, 2023 — The IRS will present a free webinar, Thursday, Nov. 2, at 2 p.m. ET, to update employers and tax professionals on the most recent developments about the Employee Retention Credit (ERC). The hour-long session will include information about the freeze on ERC claims, how to withdraw claims and what ERC resources are available from the IRS.
Oct. 17, 2023 — As part of larger transformation efforts underway, the Internal Revenue Service announced today key details about the Direct File pilot for the 2024 filing season with several states planning to join the innovative effort.
IRS announces 2024 Tax Counseling for the Elderly and Volunteer Income Tax Assistance Program Grants
Oct. 16, 2023 — The Internal Revenue Service recently awarded $51 million in Tax Counseling for the Elderly (TCE) and Volunteer Income Tax Assistance (VITA) grants to organizations that provide free federal tax return preparation.
Most popular seminars at the 2023 IRS Nationwide Tax Forums now available online
Oct. 16, 2023 — Tax professionals who missed the 2023 IRS Nationwide Tax Forums last summer are now able to view and earn continuing education credits for 18 of the most popular seminars presented there.
For California storm victims, IRS postpones tax-filing and tax-payment deadline to Nov. 16
Oct. 16, 2023 — The Internal Revenue Service today further postponed tax deadlines for most California taxpayers to Nov. 16, 2023. In the wake of last winter’s natural disasters, the normal spring due dates had previously been postponed to Oct. 16.