IRS relief provides drought-stricken farmers, ranchers more time to replace livestock IR-2019-161, September 30, 2019 — Farmers and ranchers who were forced to sell livestock due to drought may have an additional year to replace the livestock and defer tax on any gains from the forced sales, according to the IRS. IRS releases draft 2019 Forms 1065, 1120-S, and Schedules K-1 IR-2019-160, September 30, 2019 – Today the IRS issued a draft of the tax year 2019 Form 1065, U.S. Return of Partnership Income, and its Schedule K-1, Partner’s Share of Income, Deductions, Credits, etc. IRS releases new Tax Gap estimates; compliance rates remain substantially unchanged from prior study IR-2019-159, September 26, 2019 — IRS releases new Tax Gap estimates; compliance rates remain substantially unchanged from prior study IRS finalizes safe harbor to allow rental real estate to qualify as a business for qualified business income deduction IR-2019-158, September 24, 2019 — The Internal Revenue Service today issued Revenue Procedure 2019-38 that has a safe harbor allowing certain interests in rental real estate, including interests in mixed-use property, to be treated as a trade or business for purposes of the qualified business income deduction under section 199A of the Internal Revenue Code (section 199A deduction). IRS offers settlement for micro-captive insurance schemes; letters being mailed to groups under audit IR-2019-157, September 16, 2019 — The Internal Revenue Service announced today the mailing of a time-limited settlement offer for certain taxpayers under audit who participated in abusive micro-captive insurance transactions. Treasury, IRS release final and proposed regulations on new 100% depreciation IR-2019-156, September 13, 2019 — The Treasury Department and the Internal Revenue Service today released final regulations and additional proposed regulations under section 168(k) of the Internal Revenue Code on the new 100% additional first year depreciation deduction that allows businesses to write off most depreciable business assets in the year they are placed in service by the business. Tax Withholding Estimator helps retirees; figures tax on Social Security benefits IR-2019-155, September 13, 2019 — The new Tax Withholding Estimator, launched last month on IRS.gov, includes user-friendly features designed to help retirees quickly and easily figure the right amount of tax to be taken out of their pension payments. IRS expanding the Compliance Assurance Process for 2020, accepting new corporate applicants IR-2019-154, September 12, 2019 — The Internal Revenue Service announced today the opening of the application period for the 2020 Compliance Assurance Process program. IRS announces leadership appointments in the Small Business/Self-Employed Division; Harris, Guillot join Hylton in key enforcement positions IR-2019-153, September 11, 2019 — The Internal Revenue Service today announced that Darren Guillot has been selected as the Deputy Commissioner for Collection and Operations Support in the Small Business/Self-Employed Division (SB/SE) and De Lon Harris has been selected as the Deputy Commissioner for Examination. Third quarter estimated tax payment due Sept. 16 IR-2019-152, September 9, 2019 – With major tax reform now in its second year and taxpayers seeing its full effect on 2018 returns, the Internal Revenue Service today reminded people who pay estimated tax that their third quarter payment for 2019 is due Monday, Sept. 16. IRS announces new procedures to enable certain expatriated individuals a way to come into compliance with their U.S. tax and filing obligations IR-2019-151, September 6, 2019 — The IRS today announced new procedures that will enable certain individuals who relinquished their U.S. citizenship to come into compliance with their U.S. tax and filing obligations and receive relief for back taxes. Treasury and IRS issue proposed regulations and provide relief for certain tax-exempt organizations IR-2019-150, September 6, 2019 — The Internal Revenue Service today issued proposed regulations clarifying the reporting requirements generally applicable to tax-exempt organizations. New IRS Tax Withholding Estimator helps workers with self-employment income IR-2019-149, September 4, 2019 — The IRS said today that the new Tax Withholding Estimator tool includes a feature designed to make it easier for employees who also receive self-employment income to accurately estimate the right amount of tax to have taken out of their pay. News release and fact sheet archive Find previous year news releases and fact sheets from 1997 through last month.
