Taxpayers can check the status of their refund easily and conveniently with the IRS Where’s My Refund tool at IRS.gov/refunds. Refund status is available within 24 hours after the taxpayer e-filed their current year return. The tool also gives the taxpayer a personalized refund date after the IRS processes the return and approves the refund. Where’s My…… Read More

Enter te To counter promoters that marketed misleading information about the Employee Retention Credit (ERC), the Internal Revenue Service urged businesses to review seven suspicious signs of a bad claim and see if the agency’s special programs can help them avoid future compliance issues. To combat a wave of dubious ERC claims, the IRS has sharply…… Read More

A medida que se acerca la fecha límite de presentación de impuestos del 15 de abril, el Servicio de Impuestos Internos emitió un recordatorio a los contribuyentes acerca de las maneras de evitar errores típicos en sus declaraciones federales de impuestos, con el objetivo de acelerar posibles reembolsos. Recopile toda la documentación relacionada con los…… Read More

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. Following feedback from taxpayers, tax professionals and payment processors, and to reduce taxpayer confusion,…… Read More

Reminder: You may have to report information about foreign financial assets and accounts. The Foreign Account Tax Compliance Act (FATCA) is an important development in U.S. efforts to combat tax evasion by U.S. persons holding accounts and other financial assets offshore. The Treasury Department and the IRS continue to develop guidance concerning FATCA. For current… Read More

WASHINGTON — El Servicio de Impuestos Internos les recuerda a los contribuyentes que generalmente están obligados a declarar todos los ingresos obtenidos en su declaración de impuestos, incluidos los ingresos obtenidos de transacciones de activos digitales, la economía compartida y la industria de servicios, así como los ingresos de fuentes extranjeras. Los requisitos de presentación… Read More

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. The new initiative, made possible by Inflation Reduction Act funding, begins with IRS compliance letters… Read More

Using Inflation Reduction Act funding and as part of ongoing efforts to improve tax compliance in high-income categories, the Internal Revenue Service announced today plans to begin dozens of audits on business aircraft involving personal use. The audits will be focused on aircraft usage by large corporations, large partnerships and high-income taxpayers and whether for… Read More

During the busiest time of the tax filing season, the Internal Revenue Service kicked off its 2024 Tax Time Guide series to help remind taxpayers of key items they’ll need to file a 2023 tax return. As part of its four-part, weekly Tax Time Guide series, the IRS continues to provide new and updated resources to help… Read More