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Internal Revenue Service (IRS) News




Democrats Challenge IRS's SALT Rules For Property Owners

by Mike Godfrey, Tax-News.com, Washington

Wednesday, March 7, 2018

Democrat members of the Ways and Means Committee have sent a letter to Internal Revenue Service Acting Commissioner David Kautter questioning why the agency decided to restrict the prepayment of 2017 property taxes that are not included in the Tax Cuts and Jobs Act of 2017. Read Full Story

 


US Taxpayer Made To Shoulder Legal Costs, Despite IRS Inaction

by Mike Godfrey, Tax-News.com, Washington

Tuesday, March 6, 2018

Read Full Story

 


IRS Updates W-4 Form And WHT Calculator

by Mike Godfrey, Tax-News.com, Washington

Thursday, March 1, 2018

The Internal Revenue Service on February 28, 2018, released an updated Withholding Calculator and a new version of Form W-4 to help taxpayers check their 2018 tax withholding, following the passage of the Tax Cuts and Jobs Act in December. Read Full Story

 


Tax Deadline Approaching For US Farming, Fishing Industries

by Mike Godfrey, Tax-News.com, Washington

Wednesday, February 28, 2018

The Internal Revenue Service has reminded the farming and fishing industry of the March 1, 2018, deadline to take advantage of special rules that can allow them to forgo making quarterly estimated tax payments. Read Full Story

 


IRS To Close Carried Interest Loophole, Says Mnuchin

by Mike Godfrey, Tax-News.com, Washington

Wednesday, February 21, 2018

The Internal Revenue Service (IRS) will issue guidance soon to close a tax loophole that is said to be enabling hedge fund managers to access lower rates of tax reserved for carried interest. Read Full Story

 


IRS Urged To Immediately Correct Staff Bonus Shortcomings

by Mike Godfrey, Tax-News.com, Washington

Tuesday, February 20, 2018

Kevin Brady, Chairman of the House Ways and Means Committee, and his counterpart in the Senate, Orrin Hatch, have called on the Internal Revenue Service to better screen bonuses paid to staff. Read Full Story

 


US Taxpayers 'Failing To Disclose Crypto Gains'

by Mike Godfrey, Tax-News.com, Washington

Tuesday, February 20, 2018

Very few US taxpayers are reporting cryptocurrency gains in their tax returns, according to preliminary figures published by a tax return preparation company. Read Full Story

 


IRS Issues Filing Tips Ahead Of Busy Tax Season Period

by Mike Godfrey, Tax-News.com, Washington

Saturday, February 17, 2018

The Internal Revenue Service (IRS) has offered taxpayers several tips and time-saving resources, in anticipation that there will be a surge in filing activity during President's Day weekend (February 17-19). Read Full Story

 


Singapore Issues More Automatic Tax Info Exchange Guidance

by Mary Swire, Tax-News.com, Hong Kong

Saturday, February 17, 2018

Singapore's tax agency has made two announcements recently concerning the automatic exchange of information on foreign taxpayers' affairs, on the Common Reporting Standard and the US Foreign Account Tax Compliance Act. Read Full Story

 


Trump Announces Rettig To Lead IRS

by Mike Godfrey, Tax-News.com, Washington

Wednesday, February 14, 2018

US President Donald Trump has announced his intent to nominate tax lawyer Charles P Rettig as Commissioner of the Internal Revenue Service for the remainder of a term of five years beginning on November 13, 2017. Read Full Story

 

 

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