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…
IR-2020-93, May 11, 2020 WASHINGTON — The IRS and Treasury have successfully delivered nearly 130 million Economic Impact Payments to Americans in less than a month, and more are on the way. Some Americans may have received a payment amount different than what they expected. Payment amounts vary based on income, filing status and family…
IR-2020-87, May 5, 2020 WASHINGTON – The Internal Revenue Service Office of Chief Counsel today announced the Settlement Days program will continue remotely enabling unrepresented taxpayers to work towards resolving their pending United States Tax Court case despite “stay-at-home” orders in many jurisdictions. The first two events are for docketed cases with place of trial…
May 5 deadline for VA, SSI recipients who don’t file a tax return and have dependents IR-2020-86, May 1, 2020 WASHINGTON — The Internal Revenue Service today reminded Supplemental Security Income and Department of Veterans Affairs beneficiaries to act by Tuesday, May 5 if they didn’t file a tax return in 2018 or 2019 and…
Special alert for VA, SSI recipients who don’t file a tax return and have dependents IR-2020-81, April 24, 2020 WASHINGTON — The Internal Revenue Service today issued a special alert for Supplemental Security Income and Department of Veterans Affairs beneficiaries to act by May 5 if they didn’t file a tax return in 2018 or…
