IRS grants relief for U.S. persons who own stock in certain foreign corporations

IR-2019-162, October 1, 2019 — The Department of the Treasury and the Internal Revenue Service today issued Revenue Procedure 2019-40 and proposed regulations that provides relief to certain U.S. persons that own stock in certain foreign corporations.

IRS relief provides drought-stricken farmers, ranchers more time to replace livestock

IR-2019-161, September 30, 2019 — Farmers and ranchers who were forced to sell livestock due to drought may have an additional year to replace the livestock and defer tax on any gains from the forced sales, according to the IRS.

IRS releases draft 2019 Forms 1065, 1120-S, and Schedules K-1

IR-2019-160, September 30, 2019 – Today the IRS issued a draft of the tax year 2019 Form 1065, U.S. Return of Partnership Income, and its Schedule K-1, Partner’s Share of Income, Deductions, Credits, etc.

IRS releases new Tax Gap estimates; compliance rates remain substantially unchanged from prior study

IR-2019-159, September 26, 2019 — IRS releases new Tax Gap estimates; compliance rates remain substantially unchanged from prior study 

IRS finalizes safe harbor to allow rental real estate to qualify as a business for qualified business income deduction

IR-2019-158, September 24, 2019 — The Internal Revenue Service today issued Revenue Procedure 2019-38 that has a safe harbor allowing certain interests in rental real estate, including interests in mixed-use property, to be treated as a trade or business for purposes of the qualified business income deduction under section 199A of the Internal Revenue Code (section 199A deduction).

IRS offers settlement for micro-captive insurance schemes; letters being mailed to groups under audit

IR-2019-157, September 16, 2019 — The Internal Revenue Service announced today the mailing of a time-limited settlement offer for certain taxpayers under audit who participated in abusive micro-captive insurance transactions.

Treasury, IRS release final and proposed regulations on new 100% depreciation

IR-2019-156, September 13, 2019 — The Treasury Department and the Internal Revenue Service today released final regulations and additional proposed regulations under section 168(k) of the Internal Revenue Code on the new 100% additional first year depreciation deduction that allows businesses to write off most depreciable business assets in the year they are placed in service by the business.

Tax Withholding Estimator helps retirees; figures tax on Social Security benefits

IR-2019-155, September 13, 2019 — The new Tax Withholding Estimator, launched last month on IRS.gov, includes user-friendly features designed to help retirees quickly and easily figure the right amount of tax to be taken out of their pension payments.

IRS expanding the Compliance Assurance Process for 2020, accepting new corporate applicants

IR-2019-154, September 12, 2019 — The Internal Revenue Service announced today the opening of the application period for the 2020 Compliance Assurance Process program.

IRS announces leadership appointments in the Small Business/Self-Employed Division; Harris, Guillot join Hylton in key enforcement positions

IR-2019-153, September 11, 2019 — The Internal Revenue Service today announced that Darren Guillot has been selected as the Deputy Commissioner for Collection and Operations Support in the Small Business/Self-Employed Division (SB/SE) and De Lon Harris has been selected as the Deputy Commissioner for Examination.

Third quarter estimated tax payment due Sept. 16

IR-2019-152, September 9, 2019 – With major tax reform now in its second year and taxpayers seeing its full effect on 2018 returns, the Internal Revenue Service today reminded people who pay estimated tax that their third quarter payment for 2019 is due Monday, Sept. 16.

IRS announces new procedures to enable certain expatriated individuals a way to come into compliance with their U.S. tax and filing obligations

IR-2019-151, September 6, 2019 —  The IRS today announced new procedures that will enable certain individuals who relinquished their U.S. citizenship to come into compliance with their U.S. tax and filing obligations and receive relief for back taxes.

Treasury and IRS issue proposed regulations and provide relief for certain tax-exempt organizations

IR-2019-150, September 6, 2019 — The Internal Revenue Service today issued proposed regulations clarifying the reporting requirements generally applicable to tax-exempt organizations. 

New IRS Tax Withholding Estimator helps workers with self-employment income

IR-2019-149, September 4, 2019 — The IRS said today that the new Tax Withholding Estimator tool includes a feature designed to make it easier for employees who also receive self-employment income to accurately estimate the right amount of tax to have taken out of their pay.

IRS announces waiver of dyed fuel penalty in Florida due to Hurricane Dorian

IR-2019-148, August 30, 2019 —To minimize or prevent disruptions to the supply of fuel for diesel-powered highway vehicles because of Hurricane Dorian, the Internal Revenue Service announced today it will not impose a penalty when dyed diesel fuel is sold for use or used on the highway in the State of Florida.

As Hurricane Dorian gains strength, IRS encourages preparation for natural disaster

IR-2019-147, August 29, 2019 — As Dorian threatens and with the peak of hurricane season just ahead, the Internal Revenue Service reminds everyone to develop an emergency preparedness plan.

Interest rates remain the same for the fourth quarter of 2019

IR-2019-146, August 28, 2019 — The Internal Revenue Service today announced that interest rates will remain the same for the calendar quarter beginning October 1, 2019, as they were in the prior quarter. 

Security Summit warns of new IRS impersonation email scam; reminds taxpayers the IRS does not send unsolicited emails

IR-2019-145, August 22, 2019 — The IRS and its Security Summit partners today warned taxpayers and tax professionals about a new IRS impersonation scam campaign spreading nationally on email.

IRS automatically waives estimated tax penalty for eligible 2018 tax filers

IR-2019-144, August 14, 2019 — The Internal Revenue Service is automatically waiving the estimated tax penalty for the more than 400,000 eligible taxpayers who already filed their 2018 federal income tax returns but did not claim the waiver.

Tax Security 2.0 – A “Taxes-Security-Together” Checklist – Step 5

IR-2019-143, August 13, 2019 — The IRS and its Security Summit partners today reminded tax professionals that they should report data theft immediately to the IRS and follow an established process for helping the IRS protect their clients.

Moriarty selected as new associate chief counsel for Income Tax and Accounting

IR-2019-142, August 12, 2019 — The IRS’s Chief Counsel announced that John Moriarty has been selected as the new associate chief counsel, Income Tax and Accounting.

Individuals with significant tax debt should act promptly to avoid revocation of passports

IR-2019-141, August 8, 2019 — The Internal Revenue Service today urged taxpayers to resolve their significant tax debts to avoid putting their passports in jeopardy. They should contact the IRS now to avoid delays in their travel plans later.

Tax Security 2.0 – A “Taxes-Security-Together” Checklist – Step 4

IR-2019-140, August 6, 2019 — The IRS and its Security Summit partners today urged tax professionals to learn the tell-tale signs that their office may have experienced a data theft that resulted in fraudulent tax returns being filed in their clients’ names.

IRS launches new Tax Withholding Estimator; Redesigned online tool makes it easier to do a paycheck checkup

IR-2019-139, August 6, 2019  — The Internal Revenue Service today launched the new Tax Withholding Estimator, an expanded, mobile-friendly online tool designed to make it easier for everyone to have the right amount of tax withheld during the year.

IRS: Truckers should e-file highway use tax return by September 3

IR-2019-138, August 1, 2019 — The Internal Revenue Service today issued a reminder for owners of most heavy highway vehicles that the time to file Form 2290, Heavy Highway Vehicle Use Tax Return, began July 1, 2019.

News Release and Fact Sheet Archive

News releases and fact sheets from November 2002 forward and an archive of news releases and fact sheets in PDF format back to 1997.

Helpful Links

Email Updates

Tax tips, filing season news, and more.

Taxpayer Bill of Rights

What you should know