Our Blog Foreign Account Tax Compliance Act The Foreign Account Tax Compliance Act (FATCA), which was passed as part of the HIRE Act, generally requires tha... Tax Preparedness Series: Special Tax Breaks for U. S. Armed Forces IR-2016-147, Nov. 10, 2016 – As tax filing season approaches, the IRS wants members of the military and their families to know about the special tax benefits available to them. IRS Provides Special Relief to Encourage Leave-Based Donation Programs for Victims of Hurricane Matthew IR-2016-146, Nov. 10, 2016 – The IRS today announced special relief designed to support leave-based donation programs to aid victims of Hurricane Matthew. IRS Warns Tax Professionals of New e-Services Email Scam IR-2016-145, Nov. 4, 2016– The IRS today issued an urgent alert to tax professionals who use IRS e-services to beware of an email asking them to update their accounts and directing them to a fake website. IRS, Security Summit Partners Expand Identity Theft Safeguards for 2017 Filing Season, Build on 2016 Successes IR-2016-144, Nov. 3, 2016 – The IRS, state tax agencies and industry partners today finalized plans for 2017 to improve identity theft protections for individual and business taxpayers after making significant inroads this year against fraudulent returns. Reminder: Employers Face New Jan. 31 W-2 Filing Deadline; Some Refunds Delayed Until Feb. 15 IR-2016-143, Oct. 28, 2016 — The IRS today reminded employers and small businesses of a new Jan. 31 filing deadline for Forms W-2. The IRS must also hold some refunds until Feb. 15. 2017 PTIN Renewal Period Underway for Tax Professionals IR-2016-142, Oct. 28, 2016 –– The IRS today reminded the nation’s more than 725,000 federal tax return preparers that they must renew their Preparer Tax Identification Numbers (PTINs) for 2017. IRS Announces 2017 Pension Plan Limitations; 401(k) Contribution Limit Remains Unchanged at $18,000 for 2017 IR-2016-141, Oct. 27, 2016 — The IRS today announced cost of living adjustments affecting dollar limitations for pension plans and other retirement-related items for tax year 2017. Information Reporting Program Advisory Committee (IRPAC) Issues Annual Report for 2016 IR-2016-140, Oct. 26, 2016 — The Information Reporting Program Advisory Committee (IRPAC) today issued its annual report for 2016 to IRS Commissioner John Koskinen on new and continuing issues in tax administration. In 2017, Some Tax Benefits Increase Slightly Due to Inflation Adjustments, Others Are Unchanged IR-2016-139, Oct. 25, 2016 — The IRS today announced the tax year 2017 annual inflation adjustments for more than 50 tax provisions, including the tax rate schedules, and other tax changes. Retirement Plans Can Make Loans, Hardship Distributions to Victims of Hurricane Matthew IR-2016-138, Oct. 21, 2016 —The IRS today announced that 401(k)s and similar employer-sponsored retirement plans can make loans and hardship distributions to victims of Hurricane Matthew and members of their families. This is similar to relief provided this summer to Louisiana flood victims. Offshore Voluntary Compliance Efforts Top $10 Billion; More Than 100,000 Taxpayers Come Back into Compliance IR-2016-137, Oct. 21, 2016 — As international compliance efforts pass several new milestones, the IRS reminds U.S. taxpayers with undisclosed offshore accounts that they should use existing paths to come into full compliance with their federal tax obligations. IRS Announces 2017 Tax Counseling for the Elderly and Volunteer Income Tax Assistance Program Grants IR-2016-136, Oct. 19, 2016 — The IRS recently awarded over $21.5 million in TCE and VITA grants to organizations that provide free federal tax return preparation. IRS Gives Expanded Tax Relief to Victims of Hurricane Matthew; Parts of Four States Eligible; Extension Filers Have Until March 15 to File IR-2016-135, Oct. 17, 2016 –– Hurricane Matthew victims in much of North Carolina and parts of South Carolina, Georgia and Florida have until March 15, 2017, to file certain individual and business tax returns and make certain tax payments, the Internal Revenue Service announced today. Online Seminars from the 2016 IRS Nationwide Tax Forums are Now Available IR-2016-134, Oct. 17, 2016 — The IRS today reminded tax professionals that they can earn continuing education credits online through seminars filmed at the 2016 IRS Nationwide Tax Forums. IRS Announces Position on Unilateral APA Applications Involving Maquiladoras IR-2016-133, Oct. 14, 2016 –– The IRS today announced that U.S. taxpayers with maquiladora operations in Mexico will not be exposed to double taxation if they enter into a unilateral advance pricing agreement (APA) with the Large Taxpayer Division of Mexico’s Servicio de Administración Tributaria (SAT) under terms discussed in advance between the U.S. and Mexican competent authorities. Many Victims of Hurricane Matthew Qualify for Late-Filing Penalty Relief; IRS Continues to Closely Monitor As Oct. 17 Deadline Approaches IR-2016-132, Oct. 13, 2016 — The IRS today advised taxpayers affected by Hurricane Matthew but not yet covered by a federal disaster declaration with individual assistance that they may qualify for relief from penalties if they are unable to meet Monday’s extended deadline for filing 2015 tax returns. IRS Gives Tax Relief to Victims of Hurricane Matthew; Many Extension Filers in North Carolina Now Affected; Relief for Other States Expected Soon IR-2016-131, Oct. 11, 2016 –– North Carolina storm victims will have until March 15, 2017, to file certain individual and business tax returns and make certain tax payments, with similar relief expected soon for Hurricane Matthew victims in other states, the IRS announced today. Tax-filing Extension Expires Oct. 17 for Millions of Taxpayers; Check Eligibility for Overlooked Tax Benefits IR-2016-130, Oct. 7, 2016 — The IRS today urged taxpayers whose tax-filing extension runs out on Oct. 17 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 Now Accepting ITIN Renewal Applications; Taxpayers Encouraged to Act Soon to Avoid Processing Delays in 2017 IR-2016-129, Oct. 6, 2016 — The IRS reminds taxpayers affected by recent changes involving the Individual Taxpayer Identification Number (ITIN) program that they can now begin submitting their ITIN renewal applications to the IRS. IRS Advises Taxpayers to Prepare for Hurricanes, Floods and Other Natural Disasters IR-2016-128, Oct. 5, 2016 —The IRS today offered advice to taxpayers who may be affected by storms or other natural disasters. Drought-Stricken Farmers and Ranchers Have More Time to Replace Livestock; 37 States and Puerto Rico Affected IR-2016-127, Sept. 30, 2016 — 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 any gains from the forced sales, the IRS announced today. New Private Debt Collection Program to Begin Next Spring; IRS to Contract with Four Agencies; Taxpayer Rights Protected IR-2016-125, Sept. 26, 2016 — The IRS announced today that it plans to begin private collection of certain overdue federal tax debts next spring and has selected four contractors to implement the new program. IRS and Security Summit Partners Warn of Fake Tax Bills IR-2016-123, Sept. 22, 2016 — The IRS and its Security Summit partners today issued an alert to taxpayers and tax professionals to be on guard against fake emails purporting to contain an IRS tax bill related to the Affordable Care Act. Interest Rates Remain the Same for the Fourth Quarter of 2016 IR-2016-121, Sept. 14, 2016 — Interest rates for the quarter beginning Oct. 1 remain the same as in the previous quarter. IRS Warns of a New Wave of Attacks Focused on Tax Professionals IR-2016-119, Sept. 2, 2016 – The IRS today warned tax professionals of a new wave of attacks that allow identity thieves to file fraudulent tax returns by remotely taking over practitioners’ computers. IRS Urges Taxpayers to Check Their Withholding; New Factors Increase Importance of Mid-Year Check Up IR-2016-117, Aug. 31, 2016 — The IRS today encouraged taxpayers to consider a mid-year tax withholding checkup following several new factors that could affect their refunds in 2017. New Security Summit Video Warns Tax Pros of Cybercriminal Threats; Urges Precautionary Steps IR-2016-116, Aug. 30, 2016 — As part of the ongoing Security Summit efforts, the IRS today released a new YouTube video urging tax professionals to take the necessary steps toward guarding their data and protecting clients from identity theft. Retirement Plans Can Make Loans, Hardship Distributions to Louisiana Flood Victims IR-2016-115, Aug. 30, 2016 —The IRS today announced that 401(k)s and similar employer-sponsored retirement plans can make loans and hardship distributions to Louisiana flood victims and members of their families. New Procedure Helps People Making IRA and Retirement Plan Rollovers IR-2016-113, Aug. 24, 2016 — The IRS today provided a self-certification procedure to help recipients of retirement plan distributions who inadvertently miss the 60-day time limit for properly rolling these amounts into another retirement plan or individual retirement arrangement (IRA). IRS Launches New Sharing Economy Resource Center on IRS.gov, Provides Tips for Emerging Business Area IR-2016-110, Aug. 22, 2016 — The IRS this week launched a new web page designed to help taxpayers involved in the sharing economy quickly locate the resources they need to help them meet their tax obligations. IRS Provides Tax Relief to Louisiana Storm Victims; Various Tax Deadlines Extended to Jan. 17 IR-2016-105, Aug. 15, 2016 –– Louisiana storm victims will have until Jan. 17, 2017, to file certain individual and business tax returns and make certain tax payments, the IRS announced today. All workers assisting the relief activities who are affiliated with a recognized government or philanthropic organization also qualify for relief. IRS Statement on "Get an IP PIN" Tool July 19, 2016 — The IRS today announced that the “Get an IP PIN” tool has returned to IRS.gov with a stronger authentication process to help protect taxpayers. Security Summit Reviews 2016 Accomplishments, Announces 2017 Initiatives IR-2016-94, June 28, 2016 — Leaders from the IRS and state tax agencies along with executives from the private-sector tax industry marked the first year of their ground-breaking Security Summit partnership to combat identity theft tax fraud by recapping 2016 accomplishments and turning toward 2017 efforts. Empowerment Zone Designations Continue Through the End of 2016 IR-2016-91, June 21, 2016 — The IRS today announced that all empowerment zone designations remain in effect through the end of 2016. IRS Provides Guidelines on How to Claim New Wrongful-Incarceration Exclusion; Use Special Address for All Back-Year Refund Claims; Dec. 19 Deadline for Older Claims IR-2016-88, June 16, 2016 — The Internal Revenue Service today released guidelines on how wrongfully-incarcerated taxpayers can take advantage of the new retroactive exclusion from income for any civil damages, restitution or other monetary award received in connection with their incarceration. New IRS Special Procedure to Allow Property Owners to Request Return of Property, Funds in Specific Structuring Cases June 16, 2016 — The IRS has established a special procedure for people whose assets were involved in structuring to request a return of their forfeited property or funds. IRS Launches More Rigorous e-Authentication Process and Get Transcript Online IR-2016-85, June 7, 2016 — The IRS today launched a more rigorous e-authentication process for taxpayers that will significantly increase protection against identity thieves impersonating taxpayers to access tax return information through the IRS Get Transcript online service. IRS Statement on Interim Process for Making Advance Monthly Payments of the HCTC for 2016 The IRS expects to be able to make advance monthly payments of the Health Coverage Tax Credit to some individuals beginning in mid-summer 2016 using a limited interim process. IRS User Fee Program May 4, 2016 — Federal law and policy requires agencies, including the IRS, to charge a user fee to recover the cost of providing certain services to the public that confer a special benefit to the recipient. IRS Statement On “Get Transcript” Feb. 26, 2016 — Following an incident involving the IRS’s “Get Transcript” application discovered last May, the Treasury Inspector General for Tax Administration conducted a nine-month long investigation looking back to the launch of the application in January 2014 for additional suspicious activity. Budget in Brief FY 2017 This summarizes how the budget request will enable the agency to meet its strategic goals: improve customer service and enhance enforcement of the tax laws. New Early Interaction Initiative Will Help Employers Stay Current with Their Payroll Taxes IR-2015-136, Dec. 8, 2015 — The IRS has launched the Early Interaction Initiative, which is designed to more quickly identify employers who are falling behind on their payroll or employment taxes and then help them get caught up on their payment and reporting responsibilities. Offshore Compliance Programs Generate $8 Billion; IRS Urges People to Take Advantage of Voluntary Disclosure Programs IR-2015-116, Oct. 16, 2015 — The IRS today reminded U.S. taxpayers with undisclosed offshore accounts that they should strongly consider existing paths established to come into full compliance with their federal tax obligations. More than 54,000 taxpayers have participated in offshore disclosure programs since 2009. IRS Statement on the Senate Finance Committee Report Aug. 5, 2015 — The IRS has issued a statement on the Senate Finance Committee report. IRS Virtual Currency Guidance : Virtual Currency Is Treated as Property for U.S. Federal Tax Purposes; General Rules for Property Transactions Apply IR-2014-36, March. 25, 2014 — Virtual currency is treated as property for U.S. Federal tax purposes; general rules for property transactions apply. Compliance & Enforcement News A collection of recent news releases, statements and other items related to IRS compliance and enforcement efforts. IRS Charts a Path Forward with Immediate Actions The IRS is outlining new actions and next steps to fix problems uncovered with the IRS’ review of tax-exempt applications and improve the wider processes and operations in place at the IRS. Questions and Answers on 501(c) Organizations May 15, 2013 — The IRS has received a variety of questions related to the exempt organization issues recently raised. The Q&As answer some basics on the issue. Treasury and IRS Announce That All Legal Same-Sex Marriages Will Be Recognized For Federal Tax Purposes; Ruling Provides Certainty, Benefits and Protections Under Federal Tax Law for Same-Sex Married Couples IR-2013-72, Aug. 29, 2013 — Treasury and the IRS today ruled that same-sex couples, legally married in jurisdictions that recognize their marriages, will be treated as married for federal tax purposes. Fiscal Year 2015 Enforcement and Service Results The Fiscal Year 2015 Enforcement and Service Results provide the dollars collected from the examination (audit) and collection functions of the IRS. The results also tally the results of various taxpayer assistance programs.