The Internal Revenue Service is giving taxpayers more time until Nov. 21 to register their dependents for the $500 per child Economic Impact Payments provided under the CARES Act.
The Internal Revenue Service said Friday it would restart issuing its 500 series of balance-due notices to taxpayers later this month after they were paused on May 9 due to the COVID-19 pandemic.
The leaders of Congress’s main tax-writing committee are wondering if the Internal Revenue Service will be ready to handle next tax season as it’s still processing millions of pieces of correspondence that went unopened for months during the COVID-19 pandemic.
The Internal Revenue Service is reversing course on the automatic revocation notices that it sent to more than 30,000 tax-exempt organizations.
Democrats on the House Ways and Means Oversight Subcommittee want the agency to reverse the automated revocation of status for tens of thousands of nonprofits.
The Internal Revenue Service is giving taxpayers until the end of the year before it stops its temporary procedures for faxing in Forms 1045 and 1139 for claiming tentative tax refunds.
Internal Revenue Service commissioner Chuck Rettig heard complaints from lawmakers about their constituents missing stimulus payments.
The Internal Revenue Service issued guidelines Wednesday scaling back a tax break for client entertainment, following through on an element of President Donald Trump’s 2017 tax overhaul that he has said he wants to reverse amid the virus pandemic.
Under the proposed regulations, amounts paid for DPC arrangements and HCSMs are treated as deductible medical expenses.
The Internal Revenue Service said Tuesday that lenders who make Paycheck Protection Program loans that are later forgiven under the CARES Act should not file information returns or furnish payee statements to report the forgiveness.