For Hurricane Preparedness Week: IRS Offers Tips to Taxpayers Preparing for Hurricanes, Floods and Other Natural Disasters IRS YouTube Videos Preparing for Disasters: English | Spanish | ASL WASHINGTON —With Hurricane Preparedness Week, May 7 to 13, now in progress and the start of the Atlantic hurricane season looming on June 1, the Internal Revenue… Read More »
Revenue Procedure 2017-38 modifies Rev. Proc. 2017-3, 2017-1 I.R.B. 130, which sets forth areas of the Internal Revenue Code (Code) on which the Internal Revenue Service (Service) will not issue letter rulings or determination letters (no-rule areas). It will appear in IRB 2017-22 dated May 30, 2017.
IRS Video Tax Tip : Preparing for Disasters Here is a video tax tip from the IRS: Preparing for Disasters English | Spanish |ASL
Many Tax-Exempt Organizations Must File by May 15; Do Not Include Social Security Numbers or Personal Data IRS YouTube Videos: Do Not Include SSNs on Form 990 English | Spanish | ASL WASHINGTON — The Internal Revenue Service today reminded tax-exempt organizations that many have a filing deadline for Form 990-series information returns in mid-May.… Read More »
1. FATCA Registration System Update including Renewal of FFI Agreement An updated FFI agreement for agreements effective on or after January 1, 2017, was released on December 30, 2016. All financial institutions (FIs) that had in effect an FFI agreement that expired on December 31, 2016, and that wish to retain their GIIN are required to… Read More »
IRS Accepting Applications for 2018 Low Income Taxpayer Clinic Grants WASHINGTON — The Internal Revenue Service today announced that the application period for Low Income Taxpayer Clinic (LITC) grants for calendar year 2018 will run from May 1 to June 20, 2017. The LITC program is a federal grant program administered by the Office of… Read More »
IRS: Home Office Deduction Often Overlooked by Small Business Owners WASHINGTON — The Internal Revenue Service today reminded small business owners who work from a home office that there are two options for claiming the Home Office Deduction. The Home Office Deduction is often overlooked by small business owners. As part of National Small Business… Read More »
Registration Now Open for the 2017 IRS Nationwide Tax Forums WASHINGTON — Tax professionals can earn up to 18 Continuing Professional Education credits this summer at the IRS Nationwide Tax Forums. Nearly 40 seminars and workshops are available to enrolled agents, certified public accountants, certified financial planners, Annual Filing Season Program (AFSP) participants and other… Read More »
Revenue Procedure 2017-36 procedure provides indexing adjustments for certain provisions under sections 36B and 5000A of the Internal Revenue Code. In particular, it updates the Applicable Percentage Table in § 36B(b)(3)(A)(i) to provide the Applicable Percentage Table for 2018. This table is used to calculate an individual’s premium tax credit. This revenue procedure also updates… Read More »
Revenue Procedure 2017-37 provides the 2018 inflation adjusted amounts for Health Savings Accounts (HSAs) as determined under section 223 of the Internal Revenue Code. Revenue Procedure 2017-37 will be in IRB 2017-21, dated 05/22/2017.