Found 155 Matching Items; Displaying 1 - 10.
IRS: Taxpayers now have more options to correct, amend returns electronically
IR-2022-130, June 23, 2022 — The Internal Revenue Service announced today that more forms can now be amended electronically. These include people filing corrections to the Form 1040-NR, U.S. Nonresident Alien Income Tax Return and Forms 1040-SS, U.S. Self-Employment Tax Return (Including the Additional Child Tax Credit for Bona Fide Residents of Puerto Rico) and Forms 1040-PR, Self-Employment Tax Return – Puerto Rico.
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New IRS feature allows taxpayers electronically filing amended returns to choose direct deposit to speed refunds
IR-2023-22, Feb. 9, 2023 — In the latest improvement for taxpayers, the Internal Revenue Service announced today that people electronically filing their Form 1040-X, Amended U.S Individual Income Tax Return, will for the first time be able to select direct deposit for any resulting refund.
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IRS: Early filers who reported certain state tax refunds as taxable should consider filing amended returns
IR-2023-77, April 11, 2023 — The Internal Revenue Service said today that taxpayers who filed their federal income taxes early in this year’s filing season and reported certain state 2022 tax refunds as taxable income should consider filing an amended return.
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IRS: Builders of qualified new energy efficient homes may qualify for an expanded tax credit under Section 45L
IR-2023-180, Sept. 27, 2023 — The Internal Revenue Service issued Notice 2023-65 today which provides guidance on the new energy efficient home credit as amended by the Inflation Reduction Act (IRA).
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IRS issues guidance for the procedures to claim a credit for utilization of carbon oxide
IR-2024-194, July 24, 2024 — The Internal Revenue Service today issued Notice 2024-60 to provide initial guidance on the credit for the sequestration of carbon oxide. This credit was amended significantly by the Inflation Reduction Act of 2022 (IRA).
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IRS and Treasury issue final regulations on e-file for businesses
IR-2023-31, Feb. 21, 2023 — The Department of the Treasury and the IRS today issued final regulations amending the rules for filing returns and other documents electronically (e-file). These regulations will require certain filers to e-file beginning in 2024.
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Treasury, IRS provide guidance for those who manufacture new clean vehicles
IR-2023-228, Dec. 1, 2023 — The Department of the Treasury and the Internal Revenue Service today issued two items of guidance on the excluded entity restriction of the section 30D clean vehicle credit, as amended by the Inflation Reduction Act.
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Businesses must electronically file Form 8300, Report of Cash Payments Over $10,000, beginning Jan. 1, 2024
IR-2023-157, Aug. 30, 2023 — The Internal Revenue Service today announced that starting Jan. 1, 2024, businesses are required to electronically file (e-file) Form 8300, Report of Cash Payments Over $10,000, instead of filing a paper return. This new requirement follows final regulations amending e-filing rules for information returns, including Forms 8300.
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Building on filing season 2023 success, IRS continues to improve service, pursue high-income individuals evading taxes, modernize technology
IR-2023-126, July 14, 2023 — Thanks to Inflation Reduction Act resources, the IRS delivered dramatically improved service in filing season 2023. IRS achieved an 87% level of service. Through the end of filing season, IRS answered 3 million more calls, cut phone wait times to three minutes from 28 minutes, served 140,000 more taxpayers in-person, digitized 80 times more returns than in 2022 through the adoption of new scanning technology, cleared the backlog of unprocessed 2022 individual tax returns with no errors, launched two new digital tools, and enabled a new direct-deposit refund option for taxpayers with amended returns.
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Treasury, IRS issue safe harbor deed language for extinguishment and boundary line adjustment clauses
IR-2023-73, April 10, 2023 — The Treasury Department and Internal Revenue Service today issued Notice 2023-30 providing safe harbor deed language for extinguishment and boundary line adjustment clauses as required by the SECURE 2.0 Act of 2022. Notice 2023-30 will be published in the Internal Revenue Bulletin on April 24.
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