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Latest Tax Press Releases

Mar 23, 2007

Washington (IRS) — With the filing deadline approaching, the IRS today announced enhancements to the interactive Online Payment Agreement application on IRS.gov. The Web-based application allows eligible taxpayers or their authorized representatives to self-qualify, apply and receive immediate notification of approval for installment agreements – including paperless direct debit agreements. Two recent enhancements provide added functionality. The first permits individuals who have not yet received a bill to establish pre-assessed agreements on current tax year Fo...

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Mar 22, 2007

Washington (IRS) — The Internal Revenue Service is inviting civic-minded individuals to help improve the nation’s tax agency by applying to be members of the Taxpayer Advocacy Panel. The Panel provides a forum for citizens from each state to make suggestions regarding IRS decision making. The mission of the Panel is to listen to taxpayers, identify taxpayers’ issues, and make recommendations for improving IRS service and customer satisfaction. Taxpayer Advocacy Panel (TAP) members:

  • Provide opportunities for citizen input and make recommendations to the IRS o...

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    Mar 22, 2007

    Washington (IRS) — The Internal Revenue Service is providing a further extension, until June 30, 2007, of the deadline for current and former U.S.-based employees of foreign embassies, consular offices and missions and international organizations to participate in a one-time settlement initiative to resolve outstanding tax matters related to their employment. Following requests from several embassies, the date is again being extended to make certain those wishing to participate in the initiative have the opportunity to do so. The offer is open to employees of thos...

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    Mar 22, 2007

    Washington (IRS) — The Internal Revenue Service announced today that taxpayers are continuing to electronically file their tax returns at a record pace, up more than 5 percent from the same period last year. “Taxpayers are filing electronically at a record pace this year,” said IRS Commissioner Mark W. Everson. “We encourage people to consider e-file and Free File as the tax deadline approaches. E-file reduces taxpayer errors and gets refunds back quickly.” According to the new filing season statistics for the week ending March 16, 2007, one of the biggest areas o...

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    Mar 19, 2007

    Washington (IRS) — The Internal Revenue Service has acknowledged the certification by General Motors Corp. that its 2007 Saturn Aura Hybrid vehicle meets the requirements of the Alternative Motor Vehicle Credit as a qualified hybrid motor vehicle. The credit amount for the hybrid vehicle certification of the 2007 Saturn Aura Hybrid is $1,300. Consumers seeking the credit may want to buy early since the full credit is only available for a limited time. Taxpayers may claim the full amount of the allowable credit up to the end of the first calendar quarter after the...

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    Mar 14, 2007

    Washington (IRS) — The Internal Revenue Service reminds taxpayers to take advantage of Free File, which allows most taxpayers to electronically file their tax returns at no cost through IRS.gov. Through March 13, almost 2.6 million taxpayers have electronically filed their returns using Free File. Seventy percent of U.S. taxpayers are eligible for Free File since they have an adjusted gross income of $52,000 or less. Free File can only be accessed through IRS.gov. The program is a partnership between the IRS and the Free File Alliance, a group of private sector tax p...

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    Mar 13, 2007

    Washington (IRS) - The Internal Revenue Service today reminded taxpayers that the address of the official IRS government Web site is www.irs.gov. Taxpayers may be confused by the proliferation of Internet sites that contain some form of the Internal Revenue Service name or IRS acronym with a .com, .net, .org or other designation in the address instead of .gov. Since many of these sites also bear a striking resemblance to the real IRS site, taxpayers may be misled into thinking that the site they have accessed is indeed the official IRS government site. These sites a...

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    Mar 12, 2007

    Washington (IRS) — Today the Internal Revenue Service reminds certain corporations with assets of $10 million or more and whose tax year is the calendar year to e-file their returns or file for an extension by the March 15 filing deadline. Corporate taxpayers who chose to request extensions are encouraged to submit their requests through e-file. "We are seeing significant increases in the number of electronically filed corporate tax returns due to the e-filing requirement for certain corporate taxpayers, the availability of enhanced electronic filing software, and...

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    Mar 12, 2007

    Washington (IRS) — The Internal Revenue Service today reminded corporations, facing a March 15 tax-filing deadline, that they can use interest factors posted on IRS.gov to help them figure the one-time telephone excise tax refund. Corporations, including S corporations, preparing calendar-year 2006 income-tax returns with a March 15 due date, should use the interest factors posted at http://www.irs.gov/pub/irs-dft/corp3-15.pdf, rather than those in the instructions for Form 8913, Credit for Telephone Excise Tax Paid. By law, the interest rates that apply to corporat...

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    Mar 12, 2007

    Washington (IRS) — The Internal Revenue Service today announced the release of the Winter 2006-2007 issue of the Statistics of Income Bulletin. Highlights include articles on individual income taxes, split-interest trusts and tax-exempt organizations. Preliminary data for tax year 2005 indicate that taxpayers filed 134.5 million U.S. individual income tax returns, an increase of 1.6 percent from the preliminary estimate of 132.4 million returns filed for tax year 2004. Adjusted gross income (AGI) increased by 8.9 percent from the previous year to $7.4 trillion for ...

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