IRS News Releases, Fact Sheets & Statements
Law change affects moving, mileage and travel expenses
IR-2018-127, May 25, 2018 – The Internal Revenue Service today provided information to taxpayers and employers about changes from the Tax Cuts and Jobs Act that affect: move related vehicle expenses; un-reimbursed employee expenses; and, vehicle expensing.
New law gives individuals and businesses more time to challenge a wrongful IRS levy
IR-2018-126, May 25, 2018 — Individuals and businesses have additional time to file an administrative claim or to bring a civil action for wrongful levy or seizure, according to the Internal Revenue Service.
Two-income families, taxpayers working multiple jobs should check withholding amount
IR-2018-124, May 24, 2018 – The Internal Revenue Service urges two-income families and those who work multiple jobs to complete a “paycheck checkup” to verify they are having the right amount of tax withheld from their paychecks.
IRS issues notice on state and local tax deductions
IR-2018-122, May 23, 2018 — The U.S. Department of the Treasury and the Internal Revenue Service issued a notice today stating that proposed regulations will be issued addressing the deductibility of state and local tax payments for federal income tax purposes.
Taxpayers who usually itemize deductions should check their withholding to avoid tax surprises
IR-2018-120, May 16, 2018 — The IRS encourages taxpayers who typically itemized their deductions on Schedule A of the Form 1040 to use the Withholding Calculator this year to perform a “paycheck checkup.”
Seasonal, Part-year Workers Urged to Check Tax Withholding Amount
IR-2018-118, May 9, 2018 – The Internal Revenue Service today encouraged taxpayers who work seasonal jobs or are employed part of the year to visit the Withholding Calculator and perform a “paycheck checkup.”
IRS highlights sharing economy tax center, other resources during National Small Business Week
IR-2018-110, May 2, 2018 — The IRS is highlighting a variety of online resources to help small business owners and self-employed individuals as part of National Small Business Week from April 29 to May 5.
For Small Business Week, IRS highlights key business tax topics
IR-2018-109, May 2, 2018 — In recognition of National Small Business Week, April 29 to May 5, the IRS is highlighting several resources to help small business owners and self-employed individuals understand and meet their tax obligations.
Relief for taxpayers affected by reduction of maximum deductible Health Savings Account contributions
IR-2018-107, April 26, 2018 – The Internal Revenue Service today announced relief for taxpayers with family coverage under a High Deductible Health Plan (HDHP) who contribute to a Health Savings Account (HSA).
IRS describes new tax reform information reporting requirements for certain life insurance contract transactions and provides transitional guidance delaying reporting until final regulations are issued
IR-2018-104, April 26, 2018 – The Internal Revenue Service today described the new information reporting requirements for certain life insurance contracts under new IRC 6050Y, which was added by the Tax Cuts and Jobs Act (TCJA).
New rules and limitations for depreciation and expensing under the Tax Cuts and Jobs Act
FS-2018-9, April 2018 – The Tax Cuts and Jobs Act, signed Dec. 22, 2017, changed some laws regarding depreciation deductions.
Many corporations will pay a blended federal income tax this year under the new tax reform law
IR-2018-99, April 16, 2018 – Many U.S. corporations elect to use a fiscal year end and not a calendar year end for federal income tax reporting purposes.
Combat zone tax benefits now available to Armed Forces members who served in the Sinai Peninsula; IRS accepting retroactive tax refund claims back to 2015
IR-2018-95, April 13, 2018 – U.S. Armed Forces members who served in the Sinai Peninsula of Egypt may qualify for combat zone tax benefits retroactive to June 2015, according to the Internal Revenue Service.
Inflation Adjustments Under Recently Enacted Tax Law
IR-2018-94, April 13, 2018 – The Internal Revenue Service has updated the tax year 2018 annual inflation adjustments to reflect changes from the Tax Cuts and Jobs Act (TCJA). The tax year 2018 adjustments are generally used on tax returns filed in 2019.
Newly-revised estimated tax form and publication can help people pay the right amount
IR-2018-93, April 13, 2018 – With tax reform bringing major changes for the year ahead, the Internal Revenue Service today reminded the many self-employed individuals, retirees, investors and others who need to pay their taxes quarterly that the first estimated tax payment for 2018 is due on Tuesday, April 17, 2018.
IRS issues guidance on business interest expense limitations
IR-2018-82, April 2, 2018 ― The Treasury Department and the IRS today issued Notice 2018-28, which provides guidance for computing the business interest expense limitation under recent tax legislation enacted on Dec. 22, 2017.
IRS Issues Guidance on Withholding on the Transfer of Partnership Interests by Foreign Persons
IR-2018-81, April 2, 2018 ―The Treasury Department and the IRS today issued guidance regarding the withholding on the transfer of non-publicly traded partnership interests under the recently enacted Tax Cuts and Jobs Act.
IRS urges ‘Paycheck Checkup’ for key groups; tax withholding may need adjustment
IR-2018-80, April 2, 2018 — The IRS today encouraged several key groups of taxpayers to perform a “paycheck checkup” to check if they are having the right amount of tax withholding following recent tax-law changes.
IRS Issues Additional Guidance on Transition Tax on Foreign Earnings
IR-2018-79, April 2, 2018 - The Treasury Department and the Internal Revenue Service today provided additional guidance (Notice 2018-26) for computing the “transition tax” on the untaxed foreign earnings of foreign subsidiaries of U.S. companies under the Tax Cuts and Jobs Act enacted on Dec. 22, 2017.
IRS encourages ‘Paycheck Checkup’ for taxpayers to check their withholding; special week focuses on changes
IR-2018-73, March 26, 2018 — Launching a special week of activities, the IRS today continued its effort to encourage taxpayers to do a “paycheck checkup” to make sure they have the right amount of tax taken out of their paychecks for their personal situation.
IRS provides additional details on section 965, transition tax; Deadlines approach for some 2017 filers
IR-2018-53, March 13, 2018 -- The Internal Revenue Service today provided additional information to help taxpayers meet their filing and payment requirements for the section 965 transition tax.
IRS Plans to Issue Regulations Clarifying Limitations on Carried Interest
IR-2018-37, March 1, 2018 — The IRS announced today that S corporations are subject to the extended three year holding period for applicable partnership interests and that regulations will be issued soon.
Updated Withholding Calculator, Form W-4 Released; Calculator Helps Taxpayers Review Withholding Following New Tax Law
IR-2018-36, Feb. 28, 2018 — The IRS today released an updated Withholding Calculator on IRS.gov and a new version of Form W-4 to help taxpayers check their 2018 tax withholding following passage of the Tax Cuts and Jobs Act in December.
Interest on Home Equity Loans Often Still Deductible Under New Law
IR-2018-32, Feb. 21, 2018 — The IRS today advised taxpayers that in many cases they can continue to deduct interest paid on home equity loans.
IRS Issues Guidance on Changes in Accounting Periods Related to the Transition Tax
IR-2018-25, Feb. 13, 2018 — The Treasury Department and the IRS today announced modifications to the procedures for changing the accounting period of foreign corporations owned by U.S. shareholders that are subject to the transition tax under the Tax Cuts and Jobs Act.
IRS Announces 2018 Pension Plan Limitations Not Affected by Tax Cuts and Jobs Act of 2017
IR-2018-19, Feb. 6, 2018 - The Internal Revenue Service today announced that the Tax Cuts and Jobs Act of 2017 does not affect the tax year 2018 dollar limitations for retirement plans announced in IR 2017-177 and detailed in Notice 2017-64.
Tax Issues for Alaska Native American Corporations and Alaska Native Settlement Trusts
IR-2018-16, Jan. 30, 2018 — The Internal Revenue Service today reminds Alaska Native Corporations and Alaska Native Settlement Trusts that they may be able to take advantage of certain benefits in the recently enacted tax reform legislation.
IRS Issues Additional Guidance on Transition Tax on Foreign Earnings
IR-2018-09, Jan. 19, 2018 - The Treasury Department and the Internal Revenue Service (IRS) today provided additional guidance (Notice 2018-13) for computing the “transition tax” on the untaxed foreign earnings of foreign subsidiaries of U.S. companies under the Tax Cuts and Jobs Act.
Updated 2018 Withholding Tables Now Available; Taxpayers Could See Paycheck Changes by February
IR-2018-05, Jan. 11, 2018 — The Internal Revenue Service today released Notice 1036, which updates the income-tax withholding tables for 2018 reflecting changes made by the tax reform legislation enacted last month.
IRS Issues Guidance on Transition Tax on Foreign Earnings
IR-2017-212, Dec. 29, 2017 — The Treasury Department and the Internal Revenue Service today issued Notice 2018-07, which provides guidance for computing the “transition tax” under recent tax legislation enacted on Dec 22, 2017.
IRS Advisory: Prepaid Real Property Taxes May Be Deductible in 2017 if Assessed and Paid in 2017
IR-2017-210, Dec. 27, 2017 — The Internal Revenue Service advised tax professionals and taxpayers today that pre-paying 2018 state and local real property taxes in 2017 may be tax deductible under certain circumstances.
IRS Statements: Withholding for 2018
Dec. 26, 2017 — Here are the latest developments involving withholding information related to the Tax Cuts and Jobs Act.
Tax Reform Tax Tips
How the Employer Credit for Family and Medical Leave Benefits Employers
Tax Reform Tax Tip 2018-69, May 4, 2018
Tax Reform: Changes to Depreciation Affect Businesses Now
Tax Reform Tax Tip 2018-68, May 3, 2018
Taxpayers can Visit IRS.gov for Resources to Help Understand Tax Reform
Tax Reform Tax Tip 2018-49, March 30, 2018
Tips for Updating Form W-4 After Doing a Paycheck Checkup
Tax Reform Tax Tip 2018-48, March 29, 2018
Step-by-Step Instructions for Using the IRS Withholding Calculator
Tax Reform Tax Tip 2018-47, March 28, 2018
Tips for Using the Withholding Calculator
Tax Reform Tax Tip 2018-46, March 27, 2018
Updated Withholding Calculator Reflects Changes in New Tax Law
Tax Reform Tax Tip 2018-45, March 26, 2018