Wednesday, January 30, 2019

January 30, 2019, News Releases

January 2019 Resumption FAQs - ExamFINAL
January 2019 Resumption FAQs - CollectionFINAL

IRS reminds employers, other businesses of Jan. 31 filing deadline for wage statements, independent contractor forms

IR-2019-08, January 29, 2019 — The Internal Revenue Service today reminds employers and other businesses of the Jan. 31 filing deadline that applies to filing wage statements and independent contractor forms with the government.


IRS kicks off 2019 tax-filing season as tax agency reopens; Use to avoid phone delays

IR-2019-07, January 28, 2019 ― The RS successfully opened the 2019 tax-filing season today as the agency started accepting and processing federal tax returns for tax year 2018.


EITC Awareness Day reminds taxpayers to look into valuable credit; Volunteers available to help

IR-2019-06, January 25, 2019 — With today marking national EITC Awareness Day, the Internal Revenue Service wants to remind workers about the Earned Income Tax Credit and to correctly claim this important credit if they qualify.


Due to appropriations lapse, Treasury and IRS cancel Jan. 24 public hearing regarding user fees of enrolled agents and enrolled retirement plan agents

IR-2019-05, January 22, 2019 — The Treasury Department and the Internal Revenue Service today announced the cancellation of a public hearing on proposed amendments to the regulations relating to imposing user fees for enrolled agents and enrolled retirement plan agents (REG-122898-17) due to the lapse of appropriations.


Treasury, IRS issue final regulations, other guidance on new qualified business income deduction; Safe harbor enables many rental real estate owners to claim deduction

IR-2019-04, January 18, 2019 — Today the Treasury Department and the Internal Revenue Service issued final regulations and three related pieces of guidance, implementing the new qualified business income (QBI) deduction (section 199A deduction).


IRS waives penalty for many whose tax withholding and estimated tax payments fell short in 2018

IR-2019-03, January 16, 2019 — The Internal Revenue Service announced today that it is waiving the estimated tax penalty for many taxpayers whose 2018 federal income tax withholding and estimated tax payments fell short of their total tax liability for the year.


IRS Free File opens today in advance of tax season

IR-2019-02, January 11, 2019 — An improved version of IRS Free File begins its 17th filing season today as a dozen private-sector partners offer their brand-name products to help eligible taxpayers navigate the new tax reform law and electronically prepare their tax returns.


IRS confirms tax filing season to begin January 28

IR-2019-01, January 7, 2019 — Despite the government shutdown, the Internal Revenue Service today confirmed that it will process tax returns beginning January 28, 2019 and provide refunds to taxpayers as scheduled.


IRS issues guidance on Section 179 expenses and Section 168(g) depreciation under Tax Cuts and Jobs Act

IR-2018-257, December 21, 2018 — The IRS issued Revenue Procedure 2019-08 today to provide guidance on deducting expenses under Section 179(a) and on deducting depreciation under Section 168(g).


IRS takes additional steps to protect taxpayer data; partners with tax professionals

IR-2018-256, December 19, 2018 — After working with the tax preparation community, the IRS today announced it would stop its tax transcript faxing service as of Feb. 4, 2019, and offer a more secure alternative to taxpayers and tax professionals.


IRS: Make an estimated tax payment now to avoid a tax time surprise

IR-2018-255, December 19, 2018 — The IRS today advised employees, whose 2018 federal income tax withholding unexpectedly falls short of their tax liability for the year, that they can still avoid a tax-time surprise by making a quarterly estimated tax payment directly to the IRS.


IRS issues guidance on changes to excess business and net operating losses

IR-2018-254, December 18, 2018 — The IRS issued guidance on excess business loss limitations and net operating losses following law changes in the Tax Cuts and Jobs Act (TCJA).


Tax Tips

Find out how tax reform affects your businesses' bottom line at

Tax Reform Tax Tip 2019-01, January 29, 2019


New IRS resources on help businesses understand tax reform

Tax Reform Tax Tip 2018-197, December 20, 2018


These videos will help taxpayers learn more about how tax reform affects their taxes

Tax Reform Tax Tip 2018-196, December 19, 2018


Individuals can find answers to their questions about tax reform on

Tax Reform Tax Tip 2018-195, December 18, 2018


Businesses can visit to find out how tax reform affects their bottom line

Tax Reform Tax Tip 2018-194, December 17, 2018