IR-2020-132, June 29, 2020 WASHINGTON ― National Taxpayer Advocate Erin M. Collins today released her first report to Congress, identifying taxpayer challenges arising from the COVID-19 pandemic, the Coronavirus Aid, Relief, and Economic Security (CARES) Act, and the IRS’s implementation of the Taxpayer First Act as priority issues the Taxpayer Advocate Service (TAS) plans to focus…

IR-2020-129, June 24, 2020 WASHINGTON — The Electronic Tax Administration Advisory Committee (ETAAC) today released its annual report to Congress, featuring recommendations that focus on the prevention of identity theft and refund fraud. The ETAAC is a public forum whose members work closely with the Security Summit, a joint effort of the IRS, state tax…

IR-2020-124, June 19, 2020 WASHINGTON — The Internal Revenue Service today released Notice 2020-50 (PDF) to help retirement plan participants affected by the COVID-19 coronavirus take advantage of the CARES Act provisions providing enhanced access to plan distributions and plan loans. This includes expanding the categories of individuals eligible for these types of distributions and loans (referred…

IR-2020-122, June 17, 2020 WASHINGTON — The Internal Revenue Service has advised that new rules under the CARES Act provide flexibility for health care spending that may be helpful in the current environment where more people may need at-home services due to measures to fight the coronavirus. Telehealth and High Deductible Health Plans Under the…

IR-2020-120, June 12, 2020 WASHINGTON — The Treasury Department and the Internal Revenue Service today provided tax relief for certain taxpayers affected by the COVID-19 pandemic involved in new markets tax credit transactions. The taxpayers receiving relief through today’s guidance are community development entities (CDEs) and qualified active low-income community businesses (QALICBs) investing and conducting…

IR-2020-115, June 8, 2020 WASHINGTON — The Internal Revenue Service today reminded taxpayers to guard against tax fraud and other related financial scams related to COVID-19. In the last few months, the IRS Criminal Investigation division (CI) has seen a variety of Economic Impact Payment (EIP) scams and other financial schemes looking to take advantage…

IR-2020-108, May 28, 2020 WASHINGTON — The Treasury Department and the Internal Revenue Service today issued proposed regulations (PDF) to help businesses understand how legislation passed in 2018 may benefit those claiming carbon capture credits. The proposed regulations provide guidance regarding two new credits for carbon oxide captured using equipment originally placed in service on or after February…

IR-2020-101, May 22, 2020 WASHINGTON — The Treasury Department and the Internal Revenue Service today released updated state-by-state figures for Economic Impact Payments reflecting the opening weeks of the program. “Economic Impact Payments have continued going out at a rapid rate to Americans across the country,” said IRS Commissioner Chuck Rettig. “We remind people to…

IR-2020-99, May 21, 2020 WASHINGTON — The Internal Revenue Service reminds taxpayers today about several online tools available to help them get the tax information they need as the IRS has limited operations due to the coronavirus. More taxpayers are using IRS.gov than ever before; as of May 8, the agency’s website had been visited a record…

IR-2020-96, May 15, 2020 WASHINGTON — The Internal Revenue Service announced today the availability of additional material for partner groups sharing information related to Economic Impact Payments, including a new toolkit in Spanish and a variety of other print and visual items available. Even with more than 130 million Economic Impact Payments delivered to date…

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