IRS updates frequently asked questions about the Premium Tax Credit PDF FS-2024-30, September 2024 — This Fact Sheet updates frequently asked questions (FAQs) for the Premium Tax Credit. SECURE 2.0 Act impacts how businesses complete Forms W-2 FS-2024-29, Aug. 2024 — The Internal Revenue Service reminds businesses that starting in tax year 2023 changes under the SECURE 2.0 Act may affect the amounts they need to report on their Forms W-2. IRS reminds taxpayers of important tax guidelines involving contributions and distributions from online crowdfunding FS-2024-28, Aug. 2024 — Crowdfunding distributions may be includible in the gross income of the person receiving them depending on the facts and circumstances. Business Tax Account now gives many business taxpayers new options for making payments easier; available in both English, Spanish; more features coming soon FS-2024-27, Aug. 2024 — The Internal Revenue Service is continuing to expand the features within Business Tax Account (BTA), an online self-service tool for business taxpayers that now allows them to view and make balance-due payments. Updates to frequently asked questions related to New, Previously Owned, and Qualified Commercial Clean Vehicle Credits PDF FS-2024-26, July 2024 — This fact sheet updates frequently asked questions related to new, previously owned and qualified commercial clean vehicles. Frequently asked questions about applying for registration for the Clean Fuel Production Credit under § 45Z FS-2024-25, July 2024 — This fact sheet provides answers to frequently asked questions related to § 45Z of the Internal Revenue Code. Misleading social media advice leads to false claims for Fuel Tax Credit, Sick and Family Leave Credit, household employment taxes; FAQs help address common questions, next steps for those receiving IRS letters FS-2024-24, July 2024 — The Internal Revenue Service issued alert IR-2024-139 about a series of scams and inaccurate social media advice. Social media schemes led to thousands of inflated refund claims during the past tax season. The IRS has increased its compliance efforts related to false and/or questionable credits. Final regulations and related IRS guidance for reporting by brokers on sales and exchanges of digital assets FS-2024-23, June 2024 — Treasury and IRS issued final regulations on reporting by brokers on dispositions of digital assets for customers in certain sale or exchange transactions. Frequently asked questions about educational assistance programs FS-2024-22, June 2024 — This fact sheet provides answers to frequently asked questions related to educational assistance programs under section 127 of the Internal Revenue Code. a section 127 educational assistance program. New IRS, Treasury guidance focuses on “basis shifting” transactions used by partnerships FS-2024-21, June 17, 2024 — The Department of the Treasury and the Internal Revenue Service today issued guidance on the inappropriate use of partnership rules to inflate the basis of the underlying assets without causing any meaningful change to the economics of their business. IRS self-service payment plan options – Fast, easy and secure FS-2024-20, June 2024 — When taxpayers cannot pay what they owe in full, the IRS provides numerous self-service payment plan options. However, it might be beneficial for taxpayers to explore non-IRS options depending on their financial situation. Disaster relief frequently asked questions: Retirement plans and IRAs under the SECURE 2.0 Act of 2022 FS-2024-19, May 2024 — This fact sheet issues frequently asked questions about SECURE 2.0 Act of 2022 (SECURE 2.0) that provides for special rules for distributions from retirement plans and individual retirement arrangements (IRAs) and for retirement plan loans, for certain individuals impacted by federally declared major disasters. SECURE 2.0 Act changes affect how businesses complete Forms W-2 FS-2024-18, May 2024 — The Internal Revenue Service reminds businesses that starting in tax year 2023 changes under the SECURE 2.0 Act may affect the amounts they need to report on their Forms W-2. Understanding when IRS can offer disaster-related tax relief; special tax provisions kick in for individuals and businesses impacted by federally declared disasters FS-2024-17, May 2024 — Each year, the nation sees dozens of major disasters or emergencies happen in different parts of the country. The Internal Revenue Service makes it a priority to help taxpayers and businesses in need, and the agency works closely with other federal agencies in times of disaster. IRS offers several payment options, including help for taxpayers struggling to pay FS-2024-16, April 2024 — Taxpayers have a variety of options to consider when paying federal taxes. Electronic payment options are the best way to make a tax payment. Updates to frequently asked questions about Energy Efficient Home Improvements and Residential Clean Energy Property Credits PDF FS-2024-15, April 2024 — This fact sheet updates frequently asked questions about energy efficient home improvements and residential clean energy property credits. IRS updates frequently asked questions related to New, Previously Owned, and Qualified Commercial Clean Vehicle Credits PDF FS-2024-14, April 2024 — This fact sheet updates frequently asked questions related to new, previously owned, and qualified commercial clean vehicles. Frequently asked questions about work-life referral services FS-2024-13, April 2024 — This Fact Sheet provides answers to frequently asked questions (FAQs) addressing the tax treatment of work-life referral services (sometimes also called caregiver or caretaker navigation services) provided by an employer to an employee. Taxpayers need to report crypto, other digital asset transactions on their tax return FS-2024-12, April 2024 — The Internal Revenue Service reminds taxpayers they must answer the digital asset question and report all digital asset related income when they file their 2023 federal income tax return. Taxpayers should also keep these reporting guidelines in mind for 2024. Deductions for individuals: The difference between standard and itemized deductions, and what they mean FS-2024-11, April 2024 — A deduction reduces the amount of a taxpayer's income that's subject to tax, generally reducing the amount of tax the individual may have to pay. Most taxpayers now qualify for the standard deduction, but there are some important details involving itemized deductions that people should keep in mind. Tax credits for individuals: What they are and how they can benefit taxpayers FS-2024-10, April 2024 — A tax credit is an amount taxpayers claim on their tax return generally to reduce their income tax. Eligible taxpayers can use them to potentially reduce their tax bill and increase their refund. Top things to know about the IRS Direct File pilot as April filing deadline approaches FS-2024-09, April 2024 — The IRS Direct File pilot is open to eligible taxpayers in 12 pilot states to file their 2023 federal tax returns online for free — directly with the IRS. Direct File is accurate, secure and easy to use. Tips for success using Direct File FS-2024-08, March 2024 — The IRS Direct File pilot is a new choice for eligible taxpayers to file their 2023 federal tax return online for free, directly with IRS. What taxpayers should do if they received a Form 1099-K in 2024 FS-2024-07, March 2024 — If a taxpayer sold goods or services in 2023 and received payments through certain payment apps or online marketplaces or accepted payment cards, they could have received a third party reporting document Form 1099-K, Payment Card and Third Party Network Transactions. What to expect after receiving a non-filer compliance alert notice and what to do to resolve FS-2024-06, Feb. 2024 — In the continuing effort to improve tax compliance and ensure fairness, the Internal Revenue Service announced a new effort on Feb. 29, focused on high-income taxpayers who have failed to file federal income tax returns in more than 125,000 instances since 2017. Frequently asked questions about USDA’s Discrimination Financial Assistance Program FS-2024-05, Feb. 2024 — Section 22007 of the Inflation Reduction Act of 2022 (IRA) provides financial assistance for farmers, ranchers, and forest landowners who experienced discrimination by the United States Department of Agriculture (USDA) in USDA farm lending prior to 2021. To implement Section 22007 of the IRA, USDA created the USDA Discrimination Financial Assistance Program (Program). Updates to frequently asked questions about the Premium Tax Credit PDF FS-2024-04, Feb. 2024 — This Fact Sheet updates frequently asked questions for the Premium Tax Credit. IRS revises and updates Form 1099-K frequently asked questions PDF FS-2024-03, Feb. 2024 — This fact sheet updates frequently asked questions about Form 1099-K. These updates contain substantial changes within each section. Here’s who needs to file a tax return in 2024 FS-2024-02, Feb. 2024 — Most U.S. citizens and permanent residents who work in the United States need to file a tax return if they make more than a certain amount for the year. Important backup withholding deadlines FS-2024-01, Jan. 2024 — Some businesses and other payers withhold money from payments they make to certain people to satisfy backup withholding. These entities should remember their upcoming filing deadlines. News release and fact sheet archive Find previous year news releases and fact sheets from 1997 through last month.
