etrent17/irs-articles huggingface dataset:
IR-2019-146, August 28, 2019
WASHINGTON — The Internal Revenue Service today announced that interest rates will remain the same for the calendar quarter beginning October 1, 2019, as they were in the prior quarter.
The rates will be:
five (5) percent for overpayments [four (4) percent in the case of a corporation];
two and one-half (2.5) percent for the portion of a corporate overpayment exceeding $10,000;
five (5) percent for underpayments; and
seven (7) percent for large corporate underpayments. 
Under the Internal Revenue Code, the rate of interest is determined on a quarterly basis. For taxpayers other than corporations, the overpayment and underpayment rate is the federal short-term rate plus 3 percentage points.
Generally, in the case of a corporation, the underpayment rate is the federal short-term rate plus 3 percentage points and the overpayment rate is the federal short-term rate plus 2 percentage points. The rate for large corporate underpayments is the federal short-term rate plus 5 percentage points. The rate on the portion of a corporate overpayment of tax exceeding $10,000 for a taxable period is the federal short-term rate plus one-half (0.5) of a percentage point.
The interest rates announced today are computed from the federal short-term rate determined during July 2019 to take effect August 1, 2019, based on daily compounding.
Revenue Ruling 2019-21PDF, announcing the rates of interest, is attached and will appear in Internal Revenue Bulletin 2019-38, dated September 16, 2019.
IR-2019-145, August 22, 2019
WASHINGTON — The Internal Revenue Service and its Security Summit partners today warned taxpayers and tax professionals about a new IRS impersonation scam campaign spreading nationally on email. Remember: the IRS does not send unsolicited emails and never emails taxpayers about the status of refunds.
The IRS this week detected this new scam as taxpayers began notifying phishing@irs.gov about unsolicited emails from IRS imposters. The email subject line may vary, but recent examples use the phrase "Automatic Income Tax Reminder" or "Electronic Tax Return Reminder."
The emails have links that show an IRS.gov-like website with details pretending to be about the taxpayer's refund, electronic return or tax account. The emails contain a "temporary password" or "one-time password" to "access" the files to submit the refund. But when taxpayers try to access these, it turns out to be a malicious file.
"The IRS does not send emails about your tax refund or sensitive financial information," said IRS Commissioner Chuck Rettig. "This latest scheme is yet another reminder that tax scams are a year-round business for thieves. We urge you to be on-guard at all times."
This new scam uses dozens of compromised websites and web addresses that pose as IRS.gov, making it a challenge to shut down. By infecting computers with malware, these imposters may gain control of the taxpayer's computer or secretly download software that tracks every keystroke, eventually giving them passwords to sensitive accounts, such as financial accounts.
The IRS, state tax agencies and the tax industry, which work together in the Security Summit effort, have made progress in their efforts to fight stolen identity refund fraud. But people remain vulnerable to scams by IRS imposters sending fake emails or harrassing phone calls.
The IRS doesn't initiate contact with taxpayers by email, text messages or social media channels to request personal or financial information. This includes requests for PIN numbers, passwords or similar access information for credit cards, banks or other financial accounts.
The IRS also doesn't call to demand immediate payment using a specific payment method such as a prepaid debit card, gift card or wire transfer. Generally, the IRS will first mail a bill to any taxpayer who owes taxes. See Report Phishing and Online Scams for more details.
IR-2019-142, August 12, 2019
WASHINGTON — The Internal Revenue Service’s Chief Counsel announced that John Moriarty has been selected as the new associate chief counsel, Income Tax and Accounting. 
"John Moriarty will bring a wealth of leadership skills to the job,” said IRS Chief Counsel Mike Desmond. “Mr. Moriarty has been with the Office of Chief Counsel for over 29 years and is an outstanding choice for this important assignment. His many years of service to the Office of Chief Counsel and his extensive experience and strong technical knowledge have prepared him well to take over this role.”
The Income Tax and Accounting (ITA) Division in Washington, D.C., provides legal advisory services regarding fundamental rules of the federal tax system, including a wide variety of income tax and tax accounting issues. 
Moriarty has served as deputy associate chief counsel (ITA) since April 2012. In 2017, he served as acting associate chief counsel, Passthroughs and Special Industries for 11 months. He has helped guide ITA through implementation of the recent Tax Cuts and Job Act (TCJA). Moriarty has been with the Office of Chief Counsel since 1990 and has held various positions in ITA, including branch chief, senior technician reviewer and attorney-advisor. Prior to joining the Office of Chief Counsel, Moriarty was a tax attorney with several private-sector organizations.
Moriarty received his Bachelor of Arts in statistics and international studies from American University. He received his Juris Doctor and a Master of Laws in taxation from Georgetown University.
IR-2019-139, August 6, 2019
WASHINGTON — The Internal Revenue Service today launched the new Tax Withholding Estimator, an expanded, mobile-friendly online tool designed to make it easier for everyone to have the right amount of tax withheld during the year.
The Tax Withholding Estimator replaces the Withholding Calculator, which offered workers a convenient online method for checking their withholding. The new Tax Withholding Estimator offers workers, as well as retirees, self-employed individuals and other taxpayers, a more user-friendly step-by-step tool for effectively tailoring the amount of income tax they have withheld from wages and pension payments.
“The new estimator takes a new approach and makes it easier for taxpayers to review their withholding,” said IRS Commissioner Chuck Rettig. “This is part of an ongoing effort by the IRS to improve quality services as we continue to pursue modernization and enhancements of our taxpayer relationships.”
The IRS took the feedback and concerns of taxpayers and tax professionals to develop the Tax Withholding Estimator, which offers a variety of new user-friendly features including:
Plain language throughout the tool to improve comprehension.
The ability to more effectively target at the time of filing either a tax due amount close to zero or a refund amount.
A new progress tracker to help users see how much more information they need to input.
The ability to move back and forth through the steps, correct previous entries and skip questions that don’t apply.
Enhanced tips and links to help the user quickly determine if they qualify for various tax credits and deductions.
Self-employment tax for a user who has self-employment income in addition to wages or pensions.
Automatic calculation of the taxable portion of any Social Security benefits.
A mobile-friendly design.
In addition, the new Tax Withholding Estimator makes it easier to enter wages and withholding for each job held by the taxpayer and their spouse, as well as separately entering pensions and other sources of income. At the end of the process, the tool makes specific withholding recommendations for each job and each spouse and clearly explains what the taxpayer should do next.
The new Tax Withholding Estimator will help anyone doing tax planning for the last few months of 2019. Like last year, the IRS urges everyone to do a Paycheck Checkup and review their withholding for 2019. This is especially important for anyone who faced an unexpected tax bill or a penalty when they filed this year. It’s also an important step for those who made withholding adjustments in 2018 or had a major life change.
Those most at risk of having too little tax withheld include those who itemized in the past but now take the increased standard deduction, as well as two-wage-earner households, employees with nonwage sources of income and those with complex tax situations.
To get started, check out the Tax Withholding Estimator on IRS.gov.
Additional Resources:
Publication 5360 - How to Check Your Taxes Now to Avoid Surprises Later (Tax Withholding Estimator Infographic)PDF
IR-2019-138, August 1, 2019
WASHINGTON — The Internal Revenue Service today issued a reminder for owners of most heavy highway vehicles that the time to file Form 2290, Heavy Highway Vehicle Use Tax Return, began July 1, 2019.
The highway use tax applies to highway motor vehicles with a taxable gross weight of 55,000 pounds or more. This generally includes large trucks, truck tractors and buses. The tax is based on the weight of the vehicle and a variety of special rules apply. These special rules are explained in the instructions to Form 2290.
In 2019, the IRS expects to receive almost 900,000 Heavy Highway Vehicle Use Tax Returns. Though some taxpayers have the option of filing Form 2290 on paper, taxpayers with 25 or more taxed vehicles must e-file Form 2290.
The deadline to file Form 2290 and pay the tax is September 3, 2019, for vehicles used on the road during July. Truckers have the additional time since the normal deadline of August 31 falls on a Saturday this year and Monday, September 2, is a federal holiday.
The IRS encourages all owners to take advantage of the speed and convenience of e-file and paying any tax due. There is no need to visit an IRS office because the form can be filed and any required tax payment can be made online. Filers can use a credit or debit card to pay the Heavy Highway Vehicle Use Tax. Visit IRS.gov for a list of IRS-approved e-file providers and to find an approved provider for Form 2290 on the 2290 e-file partner’s page.
Generally, e-filers receive their IRS-stamped Schedule 1 electronically minutes after filing. They can then print the Schedule 1 and provide it to their state department of motor vehicles, without visiting an IRS office.
For those who want face-to-face service, all IRS Taxpayer Assistance Centers now operate by appointment and taxpayers can call 844-545-5640 to schedule one. See the Taxpayer Assistance Center page on IRS.gov for details.
The IRS will host a webinar, “Understanding Form 2290-Heavy Highway Vehicle Use Tax,” August 15 at 2 p.m. Eastern time. Pre-register for this free 60-minute webinar. Closed captioning is available. Tax professionals can earn one continuing professional education credit for attending.
For more information about the highway use tax, visit the Trucking Tax Center at IRS.gov/trucker.
IR-2019-161, September 30, 2019
WASHINGTON — Farmers and ranchers who were forced to sell livestock due to drought may have an additional year to replace the livestock and defer tax on any gains from the forced sales, according to the Internal Revenue Service.
The farmer or rancher must be in an applicable region. This is a county designated as eligible for federal assistance plus counties contiguous to that county. The relief generally applies to capital gains realized by eligible farmers and ranchers on sales of livestock held for draft, dairy or breeding purposes. Sales of other livestock, such as those raised for slaughter or held for sporting purposes, or poultry, are not eligible.
To qualify, the sales must be solely due to drought, flooding or other severe weather causing the region to be designated as eligible for federal assistance. Livestock generally must be replaced within a four-year period, instead of the usual two-year period. The IRS is also authorized to further extend this replacement period if the drought continues.
The one-year extension, announced today, gives eligible farmers and ranchers until the end of the tax year after the first drought-free year to replace the sold livestock. Details, including an example of how this provision works, can be found in Notice 2006-82PDF, available on IRS.gov.
The IRS provides this extension to farmers and ranchers located in the applicable region who qualified for the four-year replacement period if any county that is included in the applicable region is listed as suffering exceptional, extreme or severe drought conditions during any week between Sept. 1, 2018, and Aug. 31, 2019. This determination is made by the National Drought Mitigation Center. All or part of 32 states, plus Guam, the U.S. Virgin Islands and the Commonwealths of Puerto Rico and the Northern Mariana Islands, are listed in Notice 2019-54PDF.
As a result, qualified farmers and ranchers whose drought-sale replacement period was scheduled to expire at the end of this tax year, Dec. 31, 2019, in most cases, now have until the end of their next tax year. Because the normal drought-sale replacement period is four years, this extension immediately impacts drought sales that occurred during 2015. The replacement periods for some drought sales before 2015 are also affected due to previous drought-related extensions affecting some of these localities.
More information on reporting drought sales and other farm-related tax issues can be found in Publication 225, Farmer's Tax Guide, available on IRS.gov.
IR-2019-160, September 30, 2019
WASHINGTON – Today the IRS issued a draft of the tax year 2019 Form 1065, U.S. Return of Partnership Income PDF, and its Schedule K-1, Partner’s Share of Income, Deductions, Credits, etc. PDF. The changes to the form and schedule aim to improve the quality of the information reported by partnerships both to the IRS and the partners of such entities.
For example, among the changes is the addition of a checkbox that allows a taxpayer to indicate if certain grouping or aggregation elections have been made. The changes also reflect updates consistent with changes resulting from the Tax Cuts and Jobs Act.
The additional information requested in the draft Form 1065 and Schedule K-1 is intended to aid the IRS in assessing compliance risk and identifying potential noncompliance while ensuring that compliant taxpayers are less likely to be examined.  The IRS believes these changes to Form 1065 and Schedule K-1 will improve tax administration in the partnership arena, an area of critical importance to the IRS.
In addition, certain similar changes can be found in the draft of the tax year 2019 Form 1120-S, U.S. Income Tax Return for an S Corporation PDF, and its Schedule K-1 , Shareholder’s Share of Income, Deductions, Credits, etc.PDF which were also released today.
Over the past decade and a half, tax filings by partnerships have seen an increase. For calendar year 2004, about 2.5 million partnerships filed Form 1065; by calendar year 2017, that number had risen to more than 4 million, an increase of 59 percent. The rise in filings by partnerships was considerably greater than the rise in filing by C-corporations and S-corporations, combined, which rose about 14 percent over the same timeframe. This increase in filings reinforces the IRS’s need to improve the data available for its compliance selection processes. 
The draft 2019 Form 1065 and Schedule K-1, as well as the draft Form 1120-S and its Schedule K-1, are near-final forms. The drafts are intended to give tax practitioners a preview of the changes and software providers the information they need to update systems before the final version of the updated forms and schedules are released in December.
The IRS is now accepting comments for 30 days at IRS.gov/formcomments.
IR-2019-159, September 26, 2019
WASHINGTON — The Internal Revenue Service today released a new set of tax gap estimates on tax years 2011, 2012 and 2013. The results show the nation's tax compliance rate is substantially unchanged from prior years.
The gross tax gap is the difference between true tax liability for a given period and the amount of tax that is paid on time.
"Voluntary compliance is the bedrock of our tax system, and it's important it is holding steady," said IRS Commissioner Chuck Rettig. "Tax gap estimates help policy makers and the IRS in identifying where noncompliance is most prevalent. The results also underscore that both solid taxpayer service and effective enforcement are needed for the best possible tax administration."
The average gross tax gap was estimated at $441 billion per year based on data from tax years 2011, 2012 and 2013. After late payments and enforcement efforts were factored in, the net tax gap was estimated at $381 billion.
The tax gap estimates translate to about 83.6%, of taxes paid voluntarily and on time, which is in line with recent levels. The new estimate is essentially unchanged from a revised Tax Year 2008-2010 estimate of 83.8%. After enforcement efforts are taken into account, the estimated share of taxes eventually paid is 85.8% for both periods. And it is line with the TY 2001 estimate of 83.7% and the TY 2006 estimate of 82.3%.
The IRS will continue to vigorously pursue those that are not compliant. The IRS currently collects more than $3 trillion annually in taxes, penalties, interest and user fees.
The voluntary compliance rate of the U.S. tax system is vitally important for our nation. A one-percentage-point increase in voluntary compliance would bring in about $30 billion in additional tax receipts.
Tax Gap studies through the years have consistently demonstrated that third-party reporting significantly raises voluntary compliance. And compliance rises even higher when income payments are also subject to withholding. The IRS also has an array of other programs aimed at supporting accurate tax filing and helping address the tax gap. These range from working with businesses and partner groups to a variety of education and outreach efforts.
The tax gap estimates are a helpful guide to the historical scale of tax compliance and to the persisting sources of low compliance.
"Maintaining the highest possible voluntary compliance rate also helps ensure that taxpayers believe our system is fair," Rettig said. "The vast majority of taxpayers strive to pay what they owe on time. Those who do not pay their fair share ultimately shift the tax burden to those people who properly meet their tax obligations. The IRS will continue to direct our resources to help educate taxpayers about the tax requirements under the law while also focusing on pursuing those who skirt their responsibilities."
Additional Resources:
FS-2019-11, September 2019: Understanding the latest Tax Gap estimates and overall taxpayer compliance
Federal Tax Compliance Research: Tax Gap Estimates for Tax Years 2011–2013 (Publication 1415)PDF
Tax Gap Executive Summary (Publication 5364)PDF
Tax Gap Map (Publication 5365)PDF
IR-2019-158, September 24, 2019
WASHINGTON — The Internal Revenue Service today issued Revenue Procedure 2019-38PDF that has a safe harbor allowing certain interests in rental real estate, including interests in mixed-use property, to be treated as a trade or business for purposes of the qualified business income deduction under section 199A of the Internal Revenue Code (section 199A deduction).
If all the safe harbor requirements are met, an interest in rental real estate will be treated as a single trade or business for purposes of the section 199A deduction. If an interest in real estate fails to satisfy all the requirements of the safe harbor, it may still be treated as a trade or business for purposes of the section 199A deduction if it otherwise meets the definition of a trade or business in the section 199A regulations.
This safe harbor is available for taxpayers who seek to claim the section 199A deduction with respect to a "rental real estate enterprise." Solely for purposes of this safe harbor, a rental real estate enterprise is defined as an interest in real property held to generate rental or lease income. It may consist of an interest in a single property or interests in multiple properties. The taxpayer or a relevant passthrough entity (RPE) relying on this revenue procedure must hold each interest directly or through an entity disregarded as an entity separate from its owner, such as a limited liability company with a single member.
The following requirements must be met by taxpayers or RPEs to qualify for this safe harbor:
Separate books and records are maintained to reflect income and expenses for each rental real estate enterprise.
For rental real estate enterprises that have been in existence less than four years, 250 or more hours of rental services are performed per year. For other rental real estate enterprises, 250 or more hours of rental services are performed in at least three of the past five years.
The taxpayer maintains contemporaneous records, including time reports, logs, or similar documents, regarding the following: hours of all services performed; description of all services performed; dates on which such services were performed; and who performed the services.
The taxpayer or RPE attaches a statement to the return filed for the tax year(s) the safe harbor is relied upon.
For more information about this and other TCJA provisions, visit IRS.gov/taxreform.
IR-2019-156, September 13, 2019
WASHINGTON — The Treasury Department and the Internal Revenue Service today released final regulations PDF and additional proposed regulations PDF under section 168(k) of the Internal Revenue Code on the new 100% additional first year depreciation deduction that allows businesses to write off most depreciable business assets in the year they are placed in service by the business.
The regulations released today on IRS.gov have been submitted to the Federal Register and may vary slightly from the published documents due to minor editorial changes. The documents published in the Federal Register will be the official documents.
The final regulations finalize the proposed regulations issued in August 2018 which implement several provisions included in the Tax Cuts and Jobs Act (TCJA). The proposed regulations contain new provisions not addressed previously.
The 100% additional first year depreciation deduction generally applies to depreciable business assets with a recovery period of 20 years or less and certain other property. Machinery, equipment, computers, appliances and furniture generally qualify.
The deduction applies to qualifying property acquired and placed in service after September 27, 2017. The final regulations provide clarifying guidance on the requirements that must be met for property to qualify for the deduction, including used property. The final regulations also provide rules for qualified film, television and live theatrical productions.
Additionally, in the proposed regulations, the Treasury Department and IRS propose rules regarding (i) certain property not eligible for the additional first year depreciation deduction, (ii) a de minimis use rule for determining whether a taxpayer previously used property; (iii) components acquired after Sept. 27, 2017, of larger property for which construction began before Sept. 28, 2017; and (iv) other aspects not dealt with in the previous August 2018 proposed regulations. The proposed regulations also withdraw and repropose rules regarding application of the used property acquisition requirements (i) to consolidated groups, and (ii) to a series of related transactions.
For details on claiming the deduction or electing out of claiming it, see the final regulations or the instructions to Form 4562, Depreciation and Amortization (Including Information on Listed Property). For tax years that include September 28, 2017, see Rev. Proc. 2019-33 PDF for further information about making a late election or revoking an election.
Taxpayers who elect out of the 100% depreciation deduction must do so on a timely-filed return. Those who have already timely filed their 2018 return and did not elect out but still wish to do so have six months from the original deadline, without an extension, to file an amended return.
For more information about this and other TCJA provisions, visit IRS.gov/taxreform.
IR-2019-154, September 12, 2019
WASHINGTON — The Internal Revenue Service announced today the opening of the application period for the 2020 Compliance Assurance Process program. For the first time since 2015, new corporate applicants who meet eligibility requirements can apply for CAP. The application period runs September 16 to October 31, 2019. The IRS will let applicants know if they're accepted into the program around January 31, 2020.
Launched in 2005, CAP employs real-time issue resolution, through transparent and cooperative interaction between taxpayers and the IRS, to improve federal tax compliance by resolving issues prior to the filing of a tax return.
To be eligible to apply for CAP, new applicants must:
Have assets of $10 million or more,
Be a U.S. publicly traded corporation with a legal requirement to prepare and submit SEC Forms 10-K, 10-Q, and 8-K, and
Not be under investigation by, or in litigation with, any government agency that would limit the IRS's access to current tax records.
To be eligible to participate in CAP, corporations must adhere to CAP program limits on the number of open years. For 2020, the IRS expanded the list of open-year exceptions and developed a process for new applicants who are currently under examination.
Program details are available on the CAP webpage.
IR-2019-153, September 11, 2019
WASHINGTON — The Internal Revenue Service today announced that Darren Guillot has been selected as the Deputy Commissioner for Collection and Operations Support in the Small Business/Self-Employed Division (SB/SE) and De Lon Harris has been selected as the Deputy Commissioner for Examination.
"De Lon and Darren will play integral roles in our efforts to improve our taxpayer service and enforcement efforts," said Eric Hylton, the newly named Commissioner of the Small Business/Self-Employed division. "There will be a special emphasis on coordinating our enforcement efforts within the IRS and working to maintain a balanced approach to ensure public trust of our tax administration efforts. It's important our compliance efforts are robust and visible to the public."
IRS Commissioner Chuck Rettig announced on July 31 that Hylton was named SB/SE chief following an extensive career in IRS Criminal Investigation, where he previously served as deputy chief. SB/SE serves more than 50 million taxpayers including self-employed and small businesses with assets under $10 million. It also handles the agency's civil side audit issues and works in coordination with IRS Criminal Investigation.
"Eric is assembling a talented team to continue a strong emphasis on taxpayer service in SB/SE while increasing efforts on a variety of critical enforcement issues," Rettig said. "We want to help those who are trying to get it right. It is similarly important to deter those who are avoiding their filing and reporting obligations. This helps to assure the vast majority of law-abiding taxpayers that everyone is paying their fair share. The new leadership team in SB/SE will help support this goal as part of the larger work underway at the IRS."
In his new role, Harris will provide executive oversight of SB/SE examination programs designed for taxpayers who file personal, corporate, flow-through, employment, excise and estate and gift returns. Prior to this position, De Lon served as the assistant deputy commissioner Compliance Integration in the Large Business & International division (LBI).
Harris also previously served as director Field Operations-Mid-Atlantic in LB&I, and director Field Operations-West in the Office of Appeals. He holds a bachelor's degree in accounting from Southwestern Oklahoma State University and a graduate certificate in project management from George Washington University.
In his new role, Guillot will provide executive leadership to SB/SE collection and operations programs. He will direct and oversee programs impacting taxpayers who file personal, corporate, flow-through, employment, excise and estate and gift returns.
Guillot previously served as the director of Field Collection where he led efforts to enforce tax laws and assist taxpayers in meeting their tax responsibilities. He also previously served as director, Enterprise Collection Strategy and director Field Operations, Office of Appeals.
Guillot holds a bachelor's degree from Our Lady of Holy Cross College. He is a fellow of the Loyola University Institute of Politics and was awarded the certificate in public leadership by the Brookings Institute.
IR-2019-151, September 6, 2019
WASHINGTON — The Internal Revenue Service today announced new procedures that will enable certain individuals who relinquished their U.S. citizenship to come into compliance with their U.S. tax and filing obligations and receive relief for back taxes.
The Relief Procedures for Certain Former Citizens apply only to individuals who have not filed U.S. tax returns as U.S. citizens or residents, owe a limited amount of back taxes to the United States and have net assets of less than $2 million. Only taxpayers whose past compliance failures were non-willful can take advantage of these new procedures. Many in this group may have lived outside the United States most of their lives and may have not been aware that they had U.S. tax obligations.
Eligible individuals wishing to use these relief procedures are required to file outstanding U.S. tax returns, including all required schedules and information returns, for the five years preceding and their year of expatriation. Provided that the taxpayer's tax liability does not exceed a total of $25,000 for the six years in question, the taxpayer is relieved from paying U.S. taxes. The purpose of these procedures is to provide relief for certain former citizens. Individuals who qualify for these procedures will not be assessed penalties and interest.
The IRS is offering these procedures without a specific termination date. The IRS will announce a closing date prior to ending the procedures. Individuals who relinquished their U.S. citizenship any time after March 18, 2010, are eligible so long as they satisfy the other criteria of the procedures.
These procedures are only available to individuals. Estates, trusts, corporations, partnerships and other entities may not use these procedures.
The IRS will host an on-line webinar in the near future providing additional information and practical tips for making a submission to the Relief Procedures for Certain Former Citizens.
Relinquishing U.S. citizenship and the tax consequences that follow are serious matters that involve irrevocable decisions. Taxpayers who relinquish citizenship without complying with their U.S. tax obligations are subject to the significant tax consequences of the U.S. expatriation tax regime. Taxpayers interested in these procedures should read all the materials carefully, including the FAQs, and consider consulting legal counsel before making any decisions.
IR-2019-150, September 6, 2019
WASHINGTON — The Internal Revenue Service today issued proposed regulations clarifying the reporting requirements generally applicable to tax-exempt organizations.
The proposed regulations reflect statutory amendments and certain grants of reporting relief announced by the Treasury Department and the IRS in prior guidance to help many tax-exempt organizations generally find the reporting requirements in one place.
Among other provisions, the proposed regulations incorporate the existing exception from having to file an annual return for certain organizations that normally have gross receipts of $50,000 or less, which is found in Revenue Procedure 2011-15. The regulations also incorporate relief from requirements to report contributor names and addresses on annual returns filed by certain tax-exempt organizations, previously provided in Revenue Procedure 2018-38. A recent court decision held that the Treasury Department and the IRS should have followed notice and comment procedures in 2018 when announcing this relief with respect to providing contributor names and addresses, and these regulations provide the opportunity for notice and comment on that relief as well as on other proposed updates to existing regulations.
Under the proposed regulations, filing requirements for Section 501(c)(3) organizations and Section 527 political organizations remain unchanged, and all organizations are required to keep the contributor information and make it available to the IRS upon request.
Treasury and IRS welcome public comments on all aspects of these proposed regulations. For details on submitting comments, see the proposed regulations. The regulations propose to allow tax-exempt organizations to elect to apply the regulations to returns filed after September 6, 2019.
Additionally, the IRS issued Notice 2019-47 PDF providing penalty relief for certain exempt organizations that, consistent with the 2018 guidance from the IRS, do not report the names and addresses of contributors on annual returns for tax years ending on or after December 31, 2018, but on or before July 30, 2019.
IR-2019-177, October 25, 2019
WASHINGTON –The Internal Revenue Service today issued final regulations on the new information reporting requirements for certain life insurance contract transactions.
The requirement was authorized under new section 6050Y, added to the Internal Revenue Code by the Tax Cuts and Jobs Act (TCJA), the tax reform legislation enacted in December 2017. The final regulations generally apply to reportable policy sales and payments of death benefits occurring after Dec. 31, 2018. The final regulations provide taxpayers additional time to satisfy any reporting obligations for reportable policy sales or death benefit payments made prior to publication of final regulations.
Among other things, these reporting requirements are designed to help people who sell life insurance contracts properly report any gain from that sale.
Every person who acquires a life insurance contract, or any interest in a contract, in a reportable policy sale during the tax year must file a return with the IRS. The acquirer must also furnish written statements to each payment recipient and the issuer named in the return. The issuer, upon receiving such a statement, must file a return with the IRS and furnish a written statement to the seller. For further details, see Form 1099-LS, Form 1099-SB, and their instructions, available on IRS.gov.
The final regulations also provide guidance on new reporting requirements applicable to each person who makes a payment of reportable death benefits (reportable on Form 1099-R) and how to calculate the amount of death benefits excluded from gross income. The final regulations also include definitions relevant to reportable policy sales and exceptions.
For information about other TCJA provisions, visit IRS.gov/tax-reform.
Agency focuses on cybersecurity awareness during National Work and Family Month
IR-2019-175, October 22, 2019
WASHINGTON – The Internal Revenue Service today urged families and teens to stay vigilant in protecting personal information while connected to the internet. Although the IRS is making huge strides in fighting identity theft and thwarting fraudulent tax returns, help is needed.
During National Work and Family Month, IRS is asking parents and families to be mindful of all the pitfalls that can be found by sharing devices at home, shopping online and through navigating various social media platforms. Often, those who are less experienced can put themselves and others at risk by leaving an unnecessary trail of personal information for fraudsters.
The IRS has joined with representatives of the software industry, tax preparation firms, payroll and tax financial product processors and state tax administrators to combat identity theft refund fraud to protect the nation's taxpayers. This group, the Security Summit, has found methods to help reduce fraudulent tax returns entering tax processing systems.
Staying safe online
Here are a few common-sense suggestions that can make a difference for children, teens and those who are less experienced:
Remind them why security is important. People of all ages should not reveal too much information about themselves. Keeping data secure and only providing what is necessary minimizes online exposure to scammers and criminals. Birthdates, addresses, age and especially Social Security numbers are among things that should not be shared freely.
Always use security software with firewall and anti-virus protections. Make sure the security software is always turned on and can automatically update. Encrypt sensitive files such as tax records stored on computers. Use strong, unique passwords for each account. Be sure all family members have comprehensive protection especially if devices are being shared.
Teach them to recognize and avoid scams. Phishing emails, threatening phone calls and texts from thieves posing as IRS or from legitimate organizations pose risks. Do not click on links or download attachments from unknown or suspicious emails.
Protect personal data. Don't routinely carry a Social Security card. Keep it at home. Be sure any financial records are secure. Advise children and teens to shop at reputable online retailers. Treat personal information like cash; don't leave it lying around.
Teach them about public Wi-Fi networks. Connection to Wi-Fi in a mall or coffee shop is convenient but it may not be safe. Hackers and cybercriminals can easily intercept personal information. Always use a virtual private network when connecting to public Wi-Fi.
The IRS does not use text messages or social media to discuss personal tax issues, such as those involving bills or refunds. For more information, visit the Tax Scams and Consumer Alerts page on IRS.gov. Additional information about tax scams is also available on IRS social media sites, including YouTube videos. Also see Publication 4524, Security Awareness for TaxpayersPDF.
IR-2019-174, October 21, 2019
WASHINGTON — Tax professionals can earn continuing education credits online by taking seminars recorded at the 2019 IRS Nationwide Tax Forums.
The 15 new self-study seminars are now available on the IRS Nationwide Tax Forums Online website. Self-study seminars provide information to participants using interactive videos, PowerPoint slides and transcripts.
The 2019 online forum seminars cover many topics of interest to tax professionals including:


Tax Cuts and Jobs Act Update: Qualified Business Income Deduction (Section 199A) and Opportunity Zones - Real Estate Investment Trust REIT Dividends


E-file Identification Number (EFIN) Security Responsibilities


Highlights of 2019 Tax Law Changes – Plenary Session


Understanding the Circular 230 Disciplinary Process


The online forums are registered with the IRS Return Preparer Office and the National Association of State Boards of Accountancy as a qualified sponsor of continuing education. For a fee, CPAs, Enrolled Agents and Annual Filing Season Program participants taking these online seminars can earn continuing education credits. To earn credit, users must create an account, answer review questions throughout the seminar, and pass short tests at the end of the seminars.
The online forum seminars can also be audited for free. Individuals who choose to audit seminars will not have access to the review questions or final examination and will not receive credit for the seminar.
In addition to the recently-added seminars, the website also offers many seminars from prior-year IRS Nationwide Tax Forums. For more information, please visit www.irstaxforumsonline.com.
IR-2019-173, October 21, 2019
WASHINGTON — With the Oct. 31 quarterly payroll tax return due date just around the corner, the Internal Revenue Service today urged business owners to take advantage of the speed and convenience of filing these returns electronically.
IRS Forms 940, 941, 943, 944 or 945 are used to report employment tax information. The IRS recommends electronic filing, or e-filing, of these returns.
E-filing saves taxpayers time by performing calculations and populating forms and schedules using a step-by-step interview process. Once submitted, the information is quickly available to the IRS thus reducing processing time.
E-filing is the most accurate method to file returns. Those who e-file receive missing information alerts. Electronically filed returns have fewer errors, which reduces a taxpayer's chance of receiving an IRS notice.
The IRS takes safeguarding personal information seriously and e-filing security is a top priority at the agency. E-file security standards ensure tax information is protected from security breaches. The IRS requires all authorized IRS e-file providers to ensure only authorized users have access to secure information.
The IRS acknowledges receipt of e-filed returns within 24 hours. The agency retains the information on the tax return, making it accessible to the filer or tax professional around the clock. Unlike filing a return on paper, e-filing assures the filer that the tax return is with the IRS and not misplaced or lost in the mail.
There are two options for electronically filing payroll tax returns:
Self-file
Businesses purchase IRS-approved software. A list of providers offers options based on the relevant tax year.
Business owners may need to pay a fee to electronically file their returns.
The tax software requires a signature. The taxpayer has the option to apply for an online signature PIN or to scan and attach Form 8453-EMP, Employment Tax Declaration for an IRS e-file Return.
		 

Have a tax professional file on behalf of the business
Use the Authorized IRS e-file Provider Locator Service to find a tax professional who offers this service.

Only the business owner can apply for an online signature PIN. Third parties, such as attorneys, CPAs, tax return preparers or other tax professionals can't request a PIN on behalf of the business, nor can they use the PIN to sign returns on behalf of their clients.
For more information on electronic filing of payroll tax returns, see the E-file Employment Tax Forms Page.
More information:
IRS Video: Explanation of Electronic Signature Options for 8879-EMP and 8453-EMP
Electronic Federal Tax Payment System
IRS Tax Calendar for Businesses and Self-Employed
IRS Videos for Employers
Publication 15 (Circular E), Employer's Tax Guide
IR-2019-172 , October 21, 2019
WASHINGTON — The IRS is joining an international coalition in launching the second annual International Charity Fraud Awareness Week (ICFAW). Today through Oct. 25, the coalition will raise awareness and share practices to help charities and other not-for-profit organizations avoid fraud and stop financial crime.
A key feature of this year's campaign is an online hub where charity professionals and counter-fraud experts can discuss and share ideas through a series of live interactive webinars, help sheets and case studies.
Those encouraged to participate in the week's activities include:
Trustees, staff and volunteers from charities, non-government organizations and other nonprofits
People representing the interests of nonprofits
Accountants, auditors and solicitors acting as professional advisors to nonprofits
Regulators, law enforcers and policy-makers working to safeguard nonprofits
Fake charities are one of the IRS Dirty Dozen tax scams for 2019. Taxpayers can find legitimate and qualified charities with the Tax Exempt Organization Search tool on IRS.gov.
ICFAW is led by a coalition of over 40 charities, regulators, law enforcers, representative bodies and other not-for-profit stakeholders.
Anyone interested in participating in ICFAW can visit the Fraud Advisory Panel website to learn more about how to get involved. Also, individuals can follow ICFAW activities on social media by searching #CharityFraudOut.
Visit the Charity Fraud Awareness Hub to view resources on preventing charity fraud.
IR-2019-167, October 9, 2019
WASHINGTON — As part of a wider effort to assist taxpayers and to enforce the tax laws in a rapidly changing area, the Internal Revenue Service today issued two new pieces of guidance for taxpayers who engage in transactions involving virtual currency.
Expanding on guidance from 2014, the IRS is issuing additional detailed guidance to help taxpayers better understand their reporting obligations for specific transactions involving virtual currency. The new guidance includes Revenue Ruling 2019-24PDF and frequently asked questions (FAQs).
The new revenue ruling addresses common questions by taxpayers and tax practitioners regarding the tax treatment of a cryptocurrency hard fork. In addition, a set of FAQs address virtual currency transactions for those who hold virtual currency as a capital asset.
"The IRS is committed to helping taxpayers understand their tax obligations in this emerging area," said IRS Commissioner Chuck Rettig. "The new guidance will help taxpayers and tax professionals better understand how longstanding tax principles apply in this rapidly changing environment. We want to help taxpayers understand the reporting requirements as well as take steps to ensure fair enforcement of the tax laws for those who don't follow the rules."
The new guidance supplements the guidance the IRS issued on virtual currency in Notice 2014-21PDF. The IRS is also soliciting public input on additional guidance in this area.
In Notice 2014-21, the IRS applied general principles of tax law to determine that virtual currency is property for federal tax purposes. The Notice explained, in the form of 16 FAQs, the application of general tax principles to the most common transactions involving virtual currency.
The IRS is aware that some taxpayers with virtual currency transactions may have failed to report income and pay the resulting tax or did not report their transactions properly. The IRS is actively addressing potential non-compliance in this area through a variety of efforts, ranging from taxpayer education to audits to criminal investigations.
For example, in July of this year the IRS announced that it began mailing educational letters to more than 10,000 taxpayers who may have reported transactions involving virtual currency incorrectly or not at all. Taxpayers who did not report transactions involving virtual currency or who reported them incorrectly may, when appropriate, be liable for tax, penalties and interest. In some cases, taxpayers could be subject to criminal prosecution.