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Information Returns Intake System (IRIS) Working Group Meeting

Attention: Software Developers and Information Return Transmitters Please join us for an Information Returns Intake System (IRIS) Working Group Meeting. This call is intended for software developers, transmitters and states interested in the IRIS system. The purpose is to provide IRIS-related information that can better help users avoid unnecessary filing errors, address any known issues or workarounds and to provide important filing dates and deadlines. Please plan to join the meeting. Information Returns Intake System (IRIS) Working Group Meeting Wednesday, November 8Th 1:00 PM - 2:00 PM EDT Online event Thank you for subscribing to QuickAlerts for Tax Professionals, an IRS e-mail service. If you have an idea or a question related to QuickAlerts you can contact us by e-mail . Submissions which are not related to QuickAlerts will not be processed. If you have tax related questions you should pursue normal customer service channels provided on IRS.gov. If you know someone who might want to subscribe to this mailing list, please forward this message to them so they can subscribe. This message was distributed automatically. Please Do Not Reply To This Message.

Join the Information Returns Intake System (IRIS) Working Group Meeting Calling all software developers, transmitters, and states with an interest in the Information Returns Intake System (IRIS)! We’re extending an invitation to you to participate in our upcoming IRIS Working Group Meeting. This meeting has been designed specifically with you in mind, as we aim […]

Information Returns Intake System (IRIS) Working Group Meeting

Attention: Software Developers and Information Return Transmitters Please join us for an Information Returns Intake System (IRIS) Working Group Meeting. This call is intended for software developers, transmitters and states interested in the IRIS system. The purpose is to provide IRIS-related information that can better help users avoid unnecessary filing errors, address any known issues or workarounds and to provide important filing dates and deadlines. Please plan to join the meeting. Information Returns Intake System (IRIS) Working Group Meeting Wednesday, November 8Th 1:00 PM - 2:00 PM EDT Online event Thank you for subscribing to QuickAlerts for Tax Professionals, an IRS e-mail service. If you have an idea or a question related to QuickAlerts you can contact us by e-mail . Submissions which are not related to QuickAlerts will not be processed. If you have tax related questions you should pursue normal customer service channels provided on IRS.gov. If you know someone who might want to subscribe to this mailing list, please forward this message to them so they can subscribe. This message was distributed automatically. Please Do Not Reply To This Message.

Join the Information Returns Intake System (IRIS) Working Group Meeting Calling all software developers, transmitters, and states interested in the Information Returns Intake System (IRIS)! We are inviting you to participate in an upcoming IRIS Working Group Meeting. This event is designed to provide valuable insights about the IRIS system, specifically tailored to your needs. […]

#ICYMI Top CI Stories from the Past Week

ICYMI: Top IRS Criminal Investigation (CI) Stories From The Past Week Nov. 6, 2023 Useful Links About CI What do we investigate? How investigations are initiated J5 international partnership IRS.gov/CI Tax Schemes and Fraud Tax Fraud Alerts Report Suspected Tax Fraud Voluntary Disclosure CI Newsroom CI News Releases CI Resources CI Annual Reports Week of Oct. 30 - Nov. 5 #ICYMI Top CI Stories from the Past Week 1. Founders and executives of digital-asset company charged in multimillion dollar international fraud scheme The defendants are alleged to have deliberately misled investors and enriched themselves by purchasing a custom Porsche sports car and real estate, among other things. 2. Chief Lee announces results of J5 Challenge Financial investigators from all five countries and private sector partners uncovered high dollar, high impact, and multi-jurisdictional cases involving darknet marketplaces, child exploitation, and pig-butchering schemes. 3. Federal and state law enforcement officials assemble in show of unity against fentanyl trafficking San Francisco CI joins law enforcement initiative to collaborate, cooperate, and coordinate local response to fentanyl epidemic. 4. Bank insider charged with accepting bribes to facilitate millions of dollars of money laundering 5. J5 meets in Canada for the fifth iteration of the Challenge This year’s iteration of the Challenge focused on data mining and financial reporting relating to crypto-assets and technology-enabled financial threats. CI is the criminal investigative arm of the IRS, responsible for conducting financial crime investigations, including tax fraud, narcotics trafficking, money-laundering, public corruption, healthcare fraud, identity theft and more. CI special agents are the only federal law enforcement agents with investigative jurisdiction over violations of the Internal Revenue Code, obtaining a more than a 90 percent federal conviction rate. The agency has 20 field offices located across the U.S. and 12 attaché posts abroad.

Highlights of the Week: Top Stories from IRS Criminal Investigation In case you missed it, here are the top stories from the IRS Criminal Investigation (CI) division for the week of November 6, 2023. About CI and Its Role The CI division of the IRS is responsible for conducting financial crime investigations. This includes tax […]

e-News for Tax Professionals 2023-44

E-signature, encrypted email extension; EA renewal; Tax Forums Online; 401(k), IRA contribution increase; and more Upcoming Events Seminars, Workshops, Conferences, and Other Practitioner Activities By State: Issue Number: 2023-44 Inside This Issue * IRS extends use of electronic signatures, encrypted email * Enrolled agent renewal season underway * Continuing education credit available through Nationwide Tax Forums Online * Contribution limits for 401(k), IRA plans increase in 2024 * Review tax withholding now before time runs out * Protect your clients, protect yourself against online threats * Digital asset public hearing rescheduled for Nov. 13 * New IRS Energy Credits Online tool allows sellers of clean vehicles to register for time-of-sale reporting, advance credit payments

e-News for Tax Professionals 2023-44: Key Highlights and Updates In this issue, we delve into a range of pertinent topics that every tax professional needs to be aware of. From the extension of electronic signatures and encrypted email use to the increase in contribution limits for 401(k) and IRA plans, we cover it all. Let’s […]

Clean energy credits: what you need to know about timely filing; How do I timely file my return?

Clean energy credits: what you need to know about timely filing Tax-exempt and governmental entities can benefit from clean energy tax credits using new options enabled by the Inflation Reduction Act of 2022 (IRA). This newsletter is part of a series from the IRS to provide information to Indian tribal governments about clean energy tax credits and how to make elective payment elections. The IRA allows Indian tribal governments and Alaskan Native Corporations to benefit from certain clean energy tax credits through elective pay. For tax years beginning after December 31, 2022, an applicable entity that qualifies for a clean energy tax credit can make an elective payment election. This election will treat certain credits as a payment against their federal income tax liabilities rather than as a nonrefundable credit. The amount of the credit will first offset any tax liability of the entity and any excess will be refundable. How do I timely file my return? An elective payment election may only be made on an original, timely filed return (including extensions). This means the deadline is the due date (including extensions of time) for the tax return for the taxable year for which the election is made. For most tax exempt and government entities including Indian tribal governments this is generally 4.5 months (for example, May 15 for a calendar year taxpayer) (or up to 10.5 months with extensions) after the end of the entity's tax year. An original return includes a superseding return filed on or before the due date (including extensions). No election is permitted to be made on an amended return or by filing an administrative adjustment request under section 6227 of the Code. There is no relief available under §§ 301.9100-1 through 301.9100-3 of the Procedure and Administration Regulations (26 CFR part 301) for an elective payment election that is not timely filed. For additional information on due dates for filing Form 990-T, see Instructions for Form 990-T. An automatic six-month extension from the original due date will be granted without filing Form 8868, Application for Extension of Time to File. (REG-101607-23, RIN 1545-BQ63 NPRM, Section 6417 Elective Payment of Applicable Credits at, page 36) Additional information about clean energy credits can be found at irs.gov/tribes and IRS.gov/cleanenergy.

Understanding Clean Energy Credits and Timely Filing The Inflation Reduction Act of 2022 (IRA) has introduced new opportunities for tax-exempt and governmental entities to leverage clean energy tax credits. This includes Indian tribal governments and Alaskan Native Corporations, who can now make elective payment elections to benefit from these credits. The Inflation Reduction Act and […]

Foros tributarios nacionales de 2023 ya están disponibles en línea

Consejo Tributario del IRS 2023-119SP En Esta Edición Foros tributarios nacionales de 2023 ya están disponibles en línea Los Foros Tributarios Nacionales en línea del IRS ofrecen 18 seminarios nuevos de autoestudio. Ahora las personas pueden revisar las sesiones en línea e incluso obtener créditos de educación continua. Los profesionales de impuestos pueden elegir entre una variedad de temas que abarcan una amplia gama de leyes tributarias federales. Los seminarios de 2023 son: La experiencia de los contribuyentes con la Oficina de apelaciones independiente del IRS Discurso con el comisionado del IRS Danny Werfel IRS - Plan operativo estratégico e implementación Desarrollos recientes en retención e informes de información en el extranjero Informes de regalos extranjeros y fideicomisos en los Formularios 3520 y 3520-A Los nuevos anexos K-2 y K-3 y el Formulario 1116, Crédito tributario extranjero e informar elementos del Anexo K-3 en el Formulario 1040-NR (SP), Declaración de Impuestos sobre los Ingresos de Extranjeros No Residentes de los Estados Unidos Circular 230 y ética en la práctica tributaria: cómo evitar problemas Un popurrí de problemas de profesionales de impuestos (potencialmente dolorosos) IA - Verificación de identidad para profesionales de impuestos Transacciones sujetas a impuestos con activos digitales Transacciones abusivas de evasión de impuestos Cambios a los requisitos de presentación de formularios 1099-K Lo que necesita saber acerca del sistema de recibo de declaraciones informativas Distribuciones de planes de jubilación después de SECURE 1.0 y SECURE 2.0 Asistir con servicios de número de identificación de contribuyentes individuales; conviértase en un agente tramitador Cambios en la ley tributaria para 2023 Protección de identidad Navegación por las reglas de los créditos tributarios reembolsables Obtenga créditos de educación continua Por una tarifa de $29 por seminario, CPAs, agentes inscritos y participantes anuales del programa de la temporada de presentación de impuestos que toman los seminarios pueden obtener créditos de educación continua. Para obtener crédito, los usuarios deben crear una cuenta, responder preguntas de revisión durante todo el seminario y pasar exámenes cortos al final. Vea los seminarios de manera gratuita Las personas también pueden optar por ver los seminarios de manera gratuita, pero no tendrán acceso a las preguntas de revisión o los exámenes finales y no recibirán crédito por los seminarios. Los Foros Tributarios Nacionales en línea también ofrecen varios seminarios de años anteriores.

2023 National Tax Forums Now Available Online The Internal Revenue Service (IRS) has made the 2023 National Tax Forums available online. These forums offer 18 new self-study seminars that individuals can review at their convenience. What’s more, participants can even earn continuing education credits. Tax professionals are given a choice of a variety of topics […]

Límite del 401(k) aumenta a $23,000 para 2024; límite de IRA aumenta a $7,000

El Servicio de Impuestos Internos (IRS) anunció hoy que la cantidad que las personas pueden aportar a sus planes 401(k) en 2024 aumentó a $23,000, en comparación con $22,500 para 2023. El IRS también emitió hoy una guía técnica con respecto a todos los ajustes del costo de vida que afectan las limitaciones en dólares para los planes de pensión y otros artículos relacionados con la jubilación para el año tributario 2024, en el Aviso 2023-75. El límite de las contribuciones para los empleados que participan en los planes 401(k), 403(b), la mayoría de los planes 457 y el plan de ahorro Thrift Savings Plan del gobierno federal se aumentó a $23,000, en comparación con $22,500. El límite de las aportaciones anuales a una cuenta IRA aumentó a $7,000, en comparación con $6,500. El límite de las aportaciones para ponerse al día en la IRA para personas de 50 años o más se modificó en virtud de la Ley SECURE 2.0 de 2022 (SECURE 2.0) para incluir un ajuste anual por costo de vida, pero sigue siendo de $1,000 para 2024. Los detalles acerca de estos y otros ajustes del costo de vida relacionados con la jubilación para 2024 se encuentran en el Aviso 2023-75, disponible en IRS.gov.

401(k) Limit Increases to $23,000 for 2024; IRA Limit Rises to $7,000 Today, the Internal Revenue Service (IRS) announced a significant update for those contributing to their 401(k) plans. In 2024, the contribution limit will increase to $23,000, a notable rise from the previous limit of $22,500 in 2023. Guidance on Cost of Living Adjustments […]

E-news for Clean Vehicles – IRS Clean Energy Tool on Line

Welcome to the first edition of e-news for clean vehicles. This bulletin will be used to get important updates and relevant information to you quickly. Yesterday, the IRS launched the IRS Energy Credits Online tool, available for free from the IRS. Car dealers can now register to submit time-of-sale reports and receive payments from the IRS for the clean vehicle tax credits. Dealers expecting to sell clean vehicles next year should register as soon as possible. Buyers will not be able to claim or transfer a clean vehicle tax credit if the dealer has not registered and does not successfully submit a time of sale report to IRS Energy Credits Online. Initially, only one individual representative of the dealer or seller who is currently authorized to legally bind the dealer or seller can complete the initial registration through IRS Energy Credits Online. Starting December 2023, dealers and sellers will be able to authorize more than one employee to submit Time of Sale reports and advance payment requests. The IRS is dedicated to helping you with this process. If your dealership runs into difficulty at any point in the registration process, you can contact IRS.Clean.Vehicles.Dealer.Info@IRS.gov. In the coming weeks, the IRS will be establishing “office hours” that will give dealers and sellers an opportunity to ask questions or resolve problems. We will continue to send important updates and information through this bulletin.

Introducing the E-news for Clean Vehicles Welcome to the inaugural edition of our E-news for Clean Vehicles. This platform will serve as a quick and efficient way to deliver crucial updates and pertinent information to you. IRS Launches Clean Energy Tool Online Yesterday marked the launch of the IRS Energy Credits Online tool, a free […]

QuickAlerts – Technical -1040 Modernized e-File (MeF) Production Shutdown

Subject: 1040 Modernized e-File (MeF) Production Shutdown 1040 MeF Production Shutdown Schedule Shutdown begins on Saturday, November 18, 2023, at 11:59 p.m. Eastern time, to prepare the system for the upcoming Tax Year 2023 Filing Season. Important Note: Only "Send Submissions" for 1040 (both State and Federal) will be affected by this shutdown, all other services such as "Get Acks" and all state services will not be affected by the shutdown and users should be able to continue to use those services. Shutdown Deadlines on Saturday, November 18, 2023 Transmitters: Transmitting 1040 Submissions (State & Federal) 11:59 p.m. Eastern time. Important Note: Business (BMF) returns are not impacted by this IMF Production Shutdown schedule. The BMF Production Shutdown schedule will be communicated in a QuickAlerts bulletin, outlining the exact timeframes, in early December and the times will be posted on the MeF Operational Status page. Please monitor the MeF Operational Status page for any updates. We apologize for any inconveniences and thank you for your cooperation.

1040 Modernized e-File (MeF) Production Shutdown: What You Need to Know The 1040 Modernized e-File (MeF) Production system will be temporarily shutting down for scheduled maintenance. The shutdown is set to commence on Saturday, November 18, 2023, at precisely 11:59 p.m. Eastern time. This is a necessary step to prepare the system for the forthcoming […]

Attend our free virtual outreach event on clean energy credits; Clean energy credits: what you need to know about determining the taxable year; How do I determine the taxable year?

Attend our free virtual outreach event on clean energy credits. For more information on clean energy credits, join us for a free 1-hour workshop through Microsoft Teams hosted by the Office of Indian Tribal Governments. This workshop will take place on Tuesday, December 12, 2023, at 12 p.m. EST. We’ll discuss the available clean energy credits, tribal eligibility, and the how to use elective pay. Look for the Microsoft Teams invite in a future email. Clean energy credits: what you need to know about determining the taxable year. Tax-exempt and governmental entities can benefit from clean energy tax credits using new options enabled by the Inflation Reduction Act of 2022 (IRA). This newsletter is part of a series from the IRS to provide information to Indian tribal governments about clean energy tax credits and how to make elective payment elections. The IRA allows Indian tribal governments and Alaskan Native Corporations to benefit from certain clean energy tax credits through elective pay. For tax years beginning after December 31, 2022, an applicable entity that qualifies for a clean energy tax credit can make an elective payment election. This election will treat certain credits as a payment against their federal income tax liabilities rather than as a nonrefundable credit. The amount of the credit will first offset any tax liability of the entity and any excess will be refundable. How do I determine the taxable year? Check the instructions for the annual tax return you are filing. For example, for tax-exempt entities filing Form 990-T, the return must be filed using the organization's established annual accounting period. If the organization has no established accounting period, file the return on the calendar-year basis. Additional information about clean energy credits can be found at irs.gov/tribes and IRS.gov/cleanenergy.

Join Our Free Virtual Event on Clean Energy Credits Interested in clean energy credits? We’re hosting a complimentary live virtual event to guide you through the ins and outs of this topic. Our 1-hour workshop will be conducted via Microsoft Teams and is proudly organized by the Office of Indian Tribal Governments. Mark your calendars […]