Category: IRS Tips

IRS Tips
Security Summit marks 4th National Tax Security Awareness Week

IRS announces new dates, social media effort and partner toolkit to highlight identity theft precautions WASHINGTON – The Internal Revenue Service, state tax agencies and the nation’s tax industry today announced that the 4th Annual National Tax Security Awareness Week will take place between Dec. 2 and Dec. 6.   Security Summit partners will once […]

IRS Tips
IRS reminds tax professionals of tasks to get ready for 2020

WASHINGTON – The IRS today reminded tax professionals to review their e-Services account to ensure all contact information is accurate and to add or remove users. Reviewing e-Services information is just one of the tasks tax pros should complete now to get ready for 2020. Here’s a to-do list for the rest of 2019: Update […]

IRS Tips
IRS increases enforcement action on Syndicated Conservation Easements

WASHINGTON — The Internal Revenue Service announced today a significant increase in enforcement actions for syndicated conservation easement transactions, a priority compliance area for the agency. Coordinated examinations are being conducted across the IRS in the Small Business and Self-Employed Division, Large Business and International Division and Tax Exempt and Government Entities Division. Separately, investigations […]

IRS Tips
IRS updates guidance for deductible business, charitable, medical and moving expenses

WASHINGTON — The Internal Revenue Service today issued guidance for taxpayers with certain deductible expenses to reflect changes resulting from the Tax Cuts and Jobs Act (TCJA). Revenue Procedure 2019-46, posted today on IRS.gov, updates the rules for using the optional standard mileage rates in computing the deductible costs of operating an automobile for business, […]

IRS Tips
IRS: Eligible employees can use tax-free dollars for medical expenses

WASHINGTON — With health care open season now under way at many workplaces, the Internal Revenue Service today reminded workers they may be eligible to use tax-free dollars to pay medical expenses not covered by other health plans. Eligible employees of companies that offer a health flexible spending arrangement (FSA) need to act before their […]

IRS Tips
e-News for Small Business Issue 2019-19

e-News for Small Business issue 2019-19 Inside This Issue Latest IRS news regarding Syndicated Conservation Easements IRS updates guidance for deductible business, charitable, medical and moving expenses General Business Credit Form 3800 Instructions revised Employers: Take advantage of expanded Work Opportunity Tax Credit Business owners: Save time by e-filing payroll tax returns Redesigned Backup Withholding […]

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