IRS Advisory Council issues 2024 annual report IR-2024-293, Nov. 20, 2024 — The Internal Revenue Service Advisory Council (IRSAC) today issued its annual public report, including recommendations to the IRS on new and continuing issues in tax administration. Treasury, IRS finalize more partnership clean energy regulations and propose related administrative requirements IR-2024-292, Nov. 19, 2024 — The Department of the Treasury and the Internal Revenue Service released final regulations that will help certain entities that co-own clean energy projects access clean energy tax credits through elective pay (also commonly referred to as direct pay). IRS: International Fraud Awareness Week highlights how to report fraud; taxpayer protection against scams, schemes IR-2024-291, Nov. 18, 2024 — As part of International Fraud Awareness Week, the Internal Revenue Service reminds taxpayers how to report tax-related fraud in their community to protect personal and financial information from scam artists and tax schemes. Interest rates decrease for the first quarter of 2025 IR-2024-290, Nov. 18, 2024 — The Internal Revenue Service today announced that interest rates will decrease for the calendar quarter beginning Jan. 1, 2025. Give more, tax-free: Eligible IRA owners can donate up to $105,000 to charity in 2024 IR-2024-289, Nov. 14, 2024 — The Internal Revenue Service reminds individual retirement arrangement (IRA) owners age 70½ and older that they can make up to $105,000 in tax-free charitable donations during 2024 through qualified charitable distributions. That’s up from $100,000 in past years. Many businesses must report beneficial ownership information to Treasury by Jan. 1; free webinar can help IR-2024-288, Nov. 12, 2024 — The Internal Revenue Service will sponsor a free one-hour webinar designed to help the many businesses that must report their beneficial ownership information to the Treasury Department’s Financial Crimes Enforcement Network. IRS: Healthcare FSA reminder: Employees can contribute up to $3,300 in 2025; must elect every year IR-2024-287, Nov. 7, 2024 — The Internal Revenue Service reminds taxpayers that during open enrollment season for flexible spending arrangements (FSAs) they may be eligible to use tax-free dollars to pay medical expenses not covered by other health plans. IRS publishes 2024 Financial Report; resolves longstanding significant deficiency IR-2024-286, Nov. 7, 2024 — The Internal Revenue Service today released financial information and highlighted selected accomplishments and challenges in its fiscal year 2024 Financial Report. 401(k) limit increases to $23,500 for 2025, IRA limit remains $7,000 IR-2024-285, Nov. 1, 2024 — The Internal Revenue Service announced today that the amount individuals can contribute to their 401(k) plans in 2025 has increased to $23,500, up from $23,000 for 2024. News release and fact sheet archive Find previous year news releases and fact sheets from 1997 through last month.
