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Visit our News page for regular updates on tax regulation and the latest developments at our firm.

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IRS willing to consider requests for relief from double taxation related to repatriation

IR-2020-16, January 17, 2020 — The IRS announced today that the agency has become aware of limited circumstances in which it may be appropriate to provide relief from double taxation resulting from application of the repatriation tax under section 965, as amended by the Tax Cuts and Jobs Act (TCJA).

IRS Free File can save families money; find tax benefits all for free

IR-2020-15, January 17, 2020 — IRS Free File can save families, especially those with children, some money in 2020 plus find tax benefits such as the Earned Income Tax Credit. Free File is now available at IRS.gov/freefile.

Get up-to-date information this tax filing season with redesigned IRS e-News Subscriptions

IR-2020-14, January 16, 2020 — As the 2020 tax season approaches, the IRS today encouraged taxpayers, businesses, tax professionals and others to take advantage of a variety of improved e-mail subscription services.

IRS: Most taxpayers eligible for free federal and free state tax return preparation

IR-2020-13, January 16, 2020 — Most taxpayers can do both their federal and state tax returns for free online through Free File offered either by the IRS or by states that have a similar public-private partnership.

IRS to restore sequestered funds (AMT only) this fiscal year to businesses affected by OMB determination

IR-2020-12, January 16, 2020 — The Internal Revenue Service today announced it will return sequestered funds to businesses that were affected by a recent Office of Management and Budget (OMB) determination regarding the Balanced Budget and Emergency Deficit Control Act of 1985, as amended.

IRS and Treasury issue guidance for students with discharged student loans and their creditors

IR-2020-11, January 15, 2020 — The IRS and Department of the Treasury issued Revenue Procedure 2020-11 that establishes a safe harbor extending relief to additional taxpayers who took out federal or private student loans to finance attendance at a nonprofit or for-profit school.

IRS Free File helps seniors and retires do their taxes for free

IR-2020-10, January 15, 2020 — Seniors and retirees whose income is under $69,000 a year should explore IRS Free File for free online tax preparation.

Improved Tax Withholding Estimator helps workers target the refund they want; shows how to fill out new 2020 W-4

IR-2020-09, January 14, 2020 — The Internal Revenue Service has launched a new and improved Tax Withholding Estimator, designed to help workers target the refund they want by having the right amount of federal income tax taken out of their pay.

IRS Free File: Ideal for young and first-time filers

IR-2020-08, January 14, 2020 — Filing taxes for the first time or working part-time? IRS Free File may be the perfect match for people looking to save money on federal tax preparation.

IRS Free File offers free tax prep options for military personnel

IR-2020-07, January 13, 2020 – The Internal Revenue Service today reminded active duty military personnel that IRS Free File offers them multiple options for free federal tax preparation.

IRS Free File opens today; do taxes online for free

IR-2020-06, January 10, 2020 – Most taxpayers can get an early start on their federal tax returns as IRS Free File – featuring brand-name online tax providers − opens today at IRS.gov/freefile for the 2020 tax filing season.

Direct deposit fastest way to receive federal tax refund

IR-2020-05, January 9, 2019 — With tax season beginning soon, the IRS reminds taxpayers that choosing to have their tax refund directly deposited into their checking or savings account is the fastest way to get their money.

IRS helps workers, businesses with new Gig Economy Tax Center

IR-2020-04, January 9, 2020 — The Internal Revenue Service this week launched a new Gig Economy Tax Center on IRS.gov to help people in this growing area meet their tax obligations through more streamlined information.

National Taxpayer Advocate delivers Annual Report to Congress

IR-2020-03, January 8, 2020 — Acting National Taxpayer Advocate Bridget Roberts today released her 2019 Annual Report to Congress. Key challenges highlighted in the report include implementation of the Taxpayer First Act, inadequate taxpayer service and limited funding of the agency.

IRS opens 2020 filing season for individual filers on Jan. 27

IR-2020-02, January 6, 2020 — The Internal Revenue Service confirmed that the nation’s tax season will start for individual tax return filers on Monday, January 27, 2020, when the tax agency will begin accepting and processing 2019 tax year returns.

 

Legislation

In the past few years, there have been several laws passed that have tax implications. For more information, visit our pages on:

 

 

Please schedule an appointment to learn more about important changes in tax law.

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