WASHINGTON ― The Internal Revenue Service today made it easier for taxpayers who hold interests in either of two popular Canadian retirement plans to get favorable U.S. tax treatment and took additional steps to simplify procedures for U.S. taxpayers with…
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IRS Seeks Applications for Advisory Committee for the Tax Exempt and Government Entities Division
WASHINGTON ― The Internal Revenue Service is seeking applications for vacancies on the Advisory Committee on Tax Exempt and Government Entities (ACT). The committee provides a venue for public input on relevant areas of tax administration. Vacancies exist in the…
Drought-Stricken Farmers and Ranchers Have More Time to Replace Livestock; 30 States Affected
WASHINGTON — Farmers and ranchers who previously were forced to sell livestock due to drought, like the drought currently affecting much of the nation, have an extended period of time in which to replace the livestock and defer tax on…
Tax-filing and Payment Extensions Expire Oct. 15; Check Eligibility for Overlooked Tax Benefits; Choose E-file; E-pay with New Direct Pay
WASHINGTON — The Internal Revenue Service today urged taxpayers whose tax-filing extension runs out on Oct. 15 to double check their returns for often-overlooked tax benefits and then file their returns electronically using IRS e-file or the Free File system.…
IRS Warns Financial Institutions of Scams Designed to Steal FATCA-Related Account Data
WASHINGTON — The Internal Revenue Service today issued a fraud alert for international financial institutions complying with the Foreign Account Tax Compliance Act (FATCA). Scam artists posing as the IRS have fraudulently solicited financial institutions seeking account holder identity and…
New YouTube Video Discusses Taxpayer Bill of Rights
WASHINGTON ― The Internal Revenue Service today released a new YouTube video encouraging taxpayers to learn about the Taxpayer Bill of Rights. The video, featuring IRS Commissioner John Koskinen, provides information to taxpayers about their rights under the nation’s tax…
Back-to-School Reminder for Parents and Students
WASHINGTON ― With another school year now in full swing, the Internal Revenue Service today reminded parents and students that now is a good time to see if they will qualify for either of two college tax credits or any…
Tax Payments Top the One Million Mark with New IRS Direct Pay; Free Online System Makes it Easy for People to Pay Their Federal Taxes
WASHINGTON — With more than one million tax payments already processed this year through IRS Direct Pay, the Internal Revenue Service today encouraged anyone facing upcoming tax payment deadlines to consider choosing this free online system to quickly and easily…
New YouTube Videos Provide Tips on Health Care, Tax Returns
WASHINGTON ― The Internal Revenue Service announced the availability of several new YouTube videos to help taxpayers get important information about the Affordable Care Act and tax return filing. The new videos, which are part of a series on the…
Webinar Spotlights Home Office Deduction
WASHINGTON — The Internal Revenue Service will hold a free webinar this week designed to help individuals, especially owners of home-based businesses, see if they qualify for the home office deduction. The webinar, entitled Business Use of Your Home, will…