Check out the latest IRS provided tax news below. Tax news is updated regularly as the IRS posts new news and announcements about the tax industry and IRS procedures.
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State tax law cannot discriminate against federal pensioners, Supreme Court holds
on February 20, 2019 at 8:00 pm
The U.S. Supreme Court held that West Virginia cannot provide a tax exemption to state law enforcement retirees while […]
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Taxpayers will file QBI deduction computation with IRS next year
on February 15, 2019 at 8:30 pm
The IRS posted a draft of a form that affected taxpayers will submit with their 2019 tax returns showing how they […]
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Bonus depreciation safe-harbor rules for vehicles issued
on February 13, 2019 at 8:10 pm
The IRS issued a safe-harbor procedure that taxpayers may follow for determining the deduction for depreciating […]
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Identity protection PIN program expands
on February 8, 2019 at 6:30 pm
The IRS announced that it is expanding its identity protection personal identification number (IP PIN) program to […]
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IRS issues updates on post-shutdown activities
on January 30, 2019 at 8:00 pm
The IRS posted guidance for the public explaining how it will be operating now that the shutdown has ended, to catch up […]
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Government shutdown ends in time for tax season
on January 28, 2019 at 3:30 pm
The partial shutdown of the federal government ended just in time to allow the full IRS workforce to return to work for […]
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Paid preparer’s checklist expands to include head-of-household, other tax credit questions
on January 23, 2019 at 10:00 pm
Practitioners should be aware of changes to the due-diligence requirements for returns that claim the earned income tax […]
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Qualified business income deduction regs. and other guidance issued
on January 23, 2019 at 12:45 am
The package includes final regulations, guidance on how to calculate W-2 wages, a safe-harbor rule for rental real […]
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Some individual taxpayers get relief from underpayment penalty
on January 17, 2019 at 7:30 pm
The relief applies to individuals whose tax withheld and estimated tax payments equal at least 85% of the tax shown on […]
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Final regulations govern Sec. 965 transition tax
on January 16, 2019 at 10:15 pm
The IRS finalized proposed regulations issued last August on the new transition tax, which generally taxes the […]
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Half of IRS employees to be recalled during tax season
on January 15, 2019 at 11:00 pm
The IRS issued an updated contingency plan outlining how it will function during tax season. […]
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IRS announces Free File launch
on January 11, 2019 at 10:00 pm
The IRS announced that its Free File program, which provides free electronic filing options to moderate-income […]
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IRS sets start date for tax season, will issue refunds during government shutdown
on January 8, 2019 at 2:55 am
The IRS announced that tax season will start in late January and that it will issue refunds to taxpayers despite the […]
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Sec. 199A: Questions and answers
on December 20, 2018 at 7:30 pm
Jeff Bilsky, CPA, senior practice leader for BDO’s national partnership taxation group, sat down recently for a […]
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Government shutdown would halt many IRS operations
on December 19, 2018 at 8:15 pm
A partial government shutdown at midnight on Friday would affect the IRS, which has not been fully funded for fiscal […]