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Update on IRS Public Key for FATCA Filing

As you are aware, the public/private key pairs used for encryption for FATCA filings have an expiration date. The IRS Public Key for FATCA filing will expire soon. The IRS has a new key and will replace the existing key on Friday, October 13, 2023. After Friday, October 13, 2023, at 11:59 pm eastern time, you will need to download the new IRS Public Key from IDES to file your FATCA Reports. As a reminder, when purchasing a new digital certificate or replacing one that is about to expire, IDES only recognizes and accepts digital certificates issued by IRS approved Certificate Authorities (CA).

Important Update on the IRS Public Key for FATCA Filing In the world of FATCA filings, encryption is key, and those keys have a lifespan. The IRS Public Key, which is instrumental for FATCA filing, is nearing its expiration date. But don’t worry, there’s a new key on the horizon. New IRS Public Key Release […]

Consejo en video del IRS: Cómo pagar sus impuestos

Esenciales de Noticias Noticias en Español Consejos Tributarios del Cuidado de Salud Oficina de Prensa Fraudes Tributarios Alrededor de la Nación Temas de Interés IRS.gov/Español Consejos Tributarios Centro Multimediático Hojas de Datos Recursos del IRS Medios Sociales y el IRS Contacto de Mi Oficina Local Formularios e Instrucciones Defensor del Contribuyente Los Derechos del Contribuyente Edición Número: Cómo pagar sus impuestos En Esta Edición Aquà un consejo en video del IRS: Cómo pagar sus impuestos Español | Inglés | ASL Suscríbase hoy: Los canales del IRS en YouTube brindan videos cortos e informativos en una variedad de temas tributarios en español, inglés y ASL. www.youtube.com/@IRSmultilingual www.youtube.com/@IRSvideos www.youtube.com/@IRSvideosASL Gracias por suscribirse a Consejos Tributarios en Español del IRS, un servicio de correo electrónico del IRS. Para obtener más información sobre los impuestos federales, por favor visite la página de internet IRS.gov. Este mensaje fue distribuido automáticamente de la lista de correos electrónicos de Consejos Tributarios en Español del IRS. Por favor no responda a este mensaje.

Consejo en video del IRS: Cómo pagar sus impuestos ¿Está buscando consejos sobre cómo pagar sus impuestos? No busque más. Aquí le presentamos un video del IRS que proporciona información clara y concisa sobre cómo hacerlo. Recursos del IRS El IRS ofrece una variedad de recursos para ayudarlo a entender y manejar sus impuestos. Desde […]

e-News for Payroll Professionals

e-News for Payroll Professionals October 6, 2023 Useful Links: IRS.gov Payroll Professionals Tax Center Employment Taxes Reporting Agents File Employment Tax Forms Employment Tax Publications Online Ordering SSA/IRS Reporter SSA - Employer Web Page Taxpayer Advocate Service Issue Number: 2023-09 Inside This Issue IRS focusing new compliance efforts on high-income earners, partnerships, others abusing tax laws IRS expands chatbot technology – already serving more than 13 million taxpayers Bookmark the IRS’s Payroll Professionals Tax Center webpage Businesses must electronically file Form 8300, Report of Cash Payments Over $10,000, beginning Jan. 1, 2024 New draft forms, instructions and publications on IRS.gov 1. IRS focusing new compliance efforts on high-income earners, partnerships, others abusing tax laws Capitalizing on Inflation Reduction Act funding and following a top-to-bottom review of enforcement efforts, the IRS announced the start of a sweeping, historic effort to restore fairness in tax compliance by shifting more attention onto high-income earners, partnerships, large corporations and promoters abusing the nation's tax laws. The new effort will center on adding more attention to the wealthy, partnerships and other high earners who have seen sharp drops in their audit rates during the past decade. Improved technology, including artificial intelligence, will help IRS compliance teams better detect tax cheating, identify emerging compliance threats and improve case selection tools to avoid burdening taxpayers with needless 'no-change' audits. 2. IRS expands chatbot technology – already serving more than 13 million taxpayers The IRS is using Inflation Reduction Act funding to expand its chatbot technology, which quickly answers basic questions for taxpayers receiving notices about possibly underreporting their taxes. The newest chatbot feature will assist taxpayers who receive notices CP2000, CP2501 and CP3219A. These mailings inform taxpayers if the tax information the IRS received from third parties doesn't match the information they provided to the IRS themselves. Rollout of the newest chatbot builds on prior IRS successes using the technology to help improve taxpayer service. Since January 2022, IRS voice and chatbots, both in English and Spanish, helped more than 13 million taxpayers avoid wait times by resolving their tax issues, including setting up roughly $151 million in payment agreements. The IRS plans to continue additional bot technology features in the future to assist taxpayers with more complex issues. 3. Bookmark the IRS’s Payroll Professionals Tax Center webpage Stay up to date with everything payroll related by bookmarking and regularly visiting the IRS’s Payroll Professionals Tax Center webpage. The page is full of hot topics that are of interest to the payroll community. There are also links to draft forms, Tax Withholding Estimator, the Online Tax Calendar and more. 4. Businesses must electronically file Form 8300, Report of Cash Payments Over $10,000, beginning Jan. 1, 2024 Starting Jan. 1, 2024, businesses are required to electronically file (e-file) Form 8300, Report of Cash Payments Over $10,000, instead of filing a paper return. This new requirement follows final regulations amending e-filing rules for information returns, including Forms 8300. 5. New draft forms, instructions and publications on IRS.gov Draft Forms: Form 4970 (Draft), Tax on Accumulation Distribution of Trusts Form CT-1 (Draft), Employer's Annual Railroad Retirement Tax Return Form SS-8 (Draft), Determination of Worker Status for Purposes of Federal Draft Instructions: Instructions 944 (Draft), Employer's Annual Federal Tax Return Instructions 945 (Draft), Annual Return of Withheld Federal Income Tax Instructions 2678 (Draft), Employer/Payer Appointment of Agent Instructions 8941 (Draft), Credit for Small Employer Health Insurance Premiums Instructions W-7 (Draft), Application for IRS Individual Taxpayer Identification Number Instructions W-8EXP (Draft), Certificate of Foreign Government or Other Foreign Organization for United States Tax Withholding and Reporting Draft Publications: Publication 1167 (Draft), General Rules and Specifications for Substitute Tax Forms and Schedules Thank you for subscribing to e-News for Payroll Professionals an IRS email service.

Latest Updates for Payroll Professionals As we step into October 2023, there are several noteworthy updates that payroll professionals need to be aware of. This article provides a comprehensive overview of the latest IRS guidelines and policies that could impact your work. Increased IRS Compliance Efforts The IRS is ramping up its efforts to ensure […]

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 webinar. Information Returns Intake System (IRIS) Working Group Meeting Wednesday, October 11 1:00 PM - 2:00 PM EDT Online event

Join the Information Returns Intake System (IRIS) Working Group Meeting Calling all software developers, information return transmitters, and states interested in the IRIS system! We invite you to be part of the forthcoming Information Returns Intake System (IRIS) Working Group Meeting. This online event is designed specifically for those who are keen to delve deeper […]

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 webinar. Information Returns Intake System (IRIS) Working Group Meeting Wednesday, October 11 1:00 PM - 2:00 PM EDT Online event

Join the Information Returns Intake System (IRIS) Working Group Meeting If you’re a software developer, transmitter, or state representative keen on understanding more about the Information Returns Intake System (IRIS), we have an event just for you. We are hosting an IRIS Working Group Meeting, a virtual event that is sure to provide you with […]

e-News for Tax Professionals 2023-40

Clean vehicle credits; improper art donation deduction promos; improving the taxpayer experience; WOTC; and more Upcoming Events Seminars, Workshops, Conferences, and Other Practitioner Activities By State: Issue Number: 2023-40 Inside This Issue * Guidance, updated FAQs for the transfer of clean vehicle credits * IRS: Beware of improper art donation deduction promotions * A Closer Look: Improving the taxpayer experience * Know the benefits of the Work Opportunity Tax Credit * Technical Guidance 1.  Guidance, updated FAQs for the transfer of clean vehicle credits The IRS issued proposed regulations, Revenue Procedure 2023-33 and answers to frequently asked questions for the transfer of new and previously owned clean vehicle credits from the taxpayer to an eligible entity for vehicles placed in service after Dec. 31, 2023. 2.  IRS: Beware of improper art donation deduction promotions Tax pros: Watch for promotions involving exaggerated art donation deductions that can target high-income filers. 3.  A Closer Look: Improving the taxpayer experience In the latest executive column, A Closer Look, Courtney Kay-Decker, Deputy Chief Taxpayer Experience Officer, highlights the IRS’s efforts to improve the experience for taxpayers and everyone who interacts with the agency. 4.  Know the benefits of the Work Opportunity Tax Credit Giving someone a work opportunity may translate into a business tax credit for your client and greater stability for a family. 5.  Technical Guidance Revenue Procedure 2023-33 sets forth the procedures under sections 30D(g) and 25E(f) of the Internal Revenue Code for the transfer of the clean vehicle credit or previously owned clean vehicle credit from the taxpayer who elects to transfer such credit to an eligible entity.

e-News for Tax Professionals 2023-40: Key Updates and Insights In this week’s edition, we delve into a variety of important topics for tax professionals, including clean vehicle credits, art donation deduction promotions, improving taxpayer experiences, the Work Opportunity Tax Credit (WOTC), and more. Upcoming Events for Tax Professionals Stay informed and up-to-date with a range […]

#ICYMI Top CI Stories from the Past Week

ICYMI: Top IRS Criminal Investigation (CI) Stories From The Past Week Oct. 10, 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. 2 - 8 #ICYMI Top CI Stories from the Past Week 1. New special agent in charge takes the helm at IRS-CI in Washington D.C. "IRS-CI special agents are the only federal law enforcement special agents with investigative jurisdiction over violations of the Internal Revenue Code and we are the best at what we do, which translates to a 90 percent conviction rate," SAC Kareem Carter said. 2. Guard your money and your heart Romance scams are on the rise. Like The Bachelor, we want to be sure everyone is here for the right reasons. 3. We prioritize speaking to America's future financial experts We always appreciate the opportunity to talk to our future financial investigators. 4. Five sent to prison in nationwide fraud scheme targeting elderly victims Special Agent in Charge Ramsey E. Covington of our Houston Field Office said it best. 5. Follow for the latest news on financial investigations around the country Did you know? We have seven official accounts on X, including our national account and six additional accounts in select field offices throughout the U.S. 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.

Recap: Top Stories from IRS Criminal Investigation Last Week In case you missed it, here’s a recap of the top stories from the IRS Criminal Investigation (CI) division for the week of October 2nd to 8th, 2023. New Leadership at IRS-CI in Washington D.C. A new Special Agent in Charge has taken the reins at […]

Elective Payments of Credits under the Inflation Reduction Act: Pre-file Registration and Timely Filing Required

Elective Payments of Credits under the Inflation Reduction Act: Pre-file Registration and Timely Filing Required Tax-exempt and governmental entities, including those that were generally unable to use tax credits previously, can now benefit from clean energy tax credits using new options enabled by the Inflation Reduction Act of 2022. Elective pay makes certain clean energy tax credits effectively refundable. 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. This payment will first offset any tax liability of the entity and any excess will be refundable. Applicable entities generally include tax-exempt organizations, state and local governments, Indian tribal governments, Alaska Native Corporations, the Tennessee Valley Authority and rural electric cooperatives. Specific criteria for each type of applicable entity are included in the resources below. The Internal Revenue Service issued proposed regulations describing rules and definitions concerning elective payments for the clean energy tax credits. The IRS has also issued temporary regulations regarding the pre-filing registration requirements for taxpayers planning to make an elective payment election. The pre-filing registration process must be completed, and a registration number received, prior to making an elective payment election on an annual tax return. Entities for which no such return is required (such as state and local governments and Indian tribal governments) will file Form 990-T to make the elective payment election. An elective payment election may only be made on a timely filed return (including extensions). Applicable entities will need their own Employer Identification Number (EIN) or Tax Identification Number (TIN) to complete the pre-filing registration process. Applicable entities cannot use or borrow the EIN of a related entity. To apply for an EIN online, visit IRS.gov/EIN. The IRS is continuing to work to implement the elective payment process and will provide more information, including about the pre-filing registration process, in late 2023. For more information on elective pay, the IRS has posted Frequently Asked Questions that discuss eligibility, applicable credits, steps for completing pre-file registration, steps for making an election, and other rules. Additionally, the IRS has a series of publications with key information specifically for various types of applicable entities that may make an elective payment election, including information on how to make the elective pay election and what to do to receive a payment: Elective Pay Overview, Publication 5817 (PDF) Rural Electric Cooperatives, Publication 5817-A (PDF) U.S. Territorial Governments, Publication 5817-B (PDF) Alaska Native Corporations, Publication 5817-C (PDF) Tax-Exempt Organizations, Publication 5817-D (PDF) State and Local Government, Publication 5817-E (PDF) Indian Tribal Governments, Publication 5817-F (PDF) Clean Energy Tax Incentives: Elective Pay Eligible Tax Credits, Publication 5817-G (PDF) The tax-exempt bond community can find answers to many questions at IRS.gov/bonds. If you’re unable to find answers to account-specific questions, call Customer Account Services at 877-829-5500. If you know someone who wants to subscribe to the TEB Community Update, forward this message to them to subscribe. To subscribe to other IRS news, click IRS Newsletters or IRS Social Media. This message was distributed automatically from the TEB Community Update mailing list. Please do not reply to this message.

Understanding Elective Payments of Credits under the Inflation Reduction Act: The Importance of Pre-file Registration and Timely Filing In a significant development for tax-exempt and governmental entities, the Inflation Reduction Act of 2022 has ushered in new opportunities to benefit from clean energy tax credits. This is particularly beneficial for entities that were previously unable […]

TE/GE Releases the FY2024 Program Letter

TE/GE Releases the FY2024 Program Letter The Tax Exempt & Government Entities (TE/GE) Fiscal Year 2024 Program Letter lists our priorities for the new fiscal year. Our Fiscal Year 2024 compliance program and priorities align with the objectives of the IRS Strategic Operating Plan (SOP): Service (Better Taxpayer Experience) Issue Resolution (Faster Issue Resolution) Enforcement (Smarter Enforcement) Modernization (Advanced Technology and Analytics) Workforce (Empowered Employees) We plan to release a summary of our Fiscal Year 2023 accomplishments during the first quarter Fiscal Year 2024. You can also view our annual program and accomplishment letters from previous years. For the latest TE/GE news, connect via IRS Social Media and subscribe to this and other IRS newsletters. This message was distributed automatically from the Tax Exempt & Government Entities Updates mailing list. Please do not reply to this message.

Unveiling the TE/GE FY2024 Program Letter In the realm of Tax Exempt & Government Entities (TE/GE), the anticipation for the Fiscal Year 2024 Program Letter has finally come to an end. This letter serves as a beacon, guiding us through the priorities set for the upcoming fiscal year. Aligning with the IRS Strategic Operating Plan […]

Annual Self-Certification and E-file Application URL Registration

QuickAlerts for Tax Professionals October 4, 2023 e-file Resources QuickAlerts Library QuickAlerts Article QuickAlerts Brochure e-file for Tax Pros Software Developers IRS.gov Refund Information Other Useful Links Tax Professionals Home All Forms and Instructions Stakeholders Partners' Headliners Training and Communication Tools e-Services Disaster Relief Internal Revenue Bulletins Subject: Annual Self-Certification and E-file Application URL Registration ATTN: Authorized IRS e-file Providers/EROs This is a reminder that all Online Providers must complete the annual self-certification questions beginning October 1, 2023, to ensure they comply with Publication 1345 IRS e-file security, privacy, and business standards. If you are an Authorized IRS e-file Provider who owns or operates a website(s) that collects, transmits, stores or processes taxpayer information, the IRS also requires you to register those URL(s) on your e-file Application. The annual certification process includes the registration of these Websites. If you have not previously registered your URL(s), select the URL collection link on the e-file Application information page menu to register. Back to Top 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. Update your subscriptions, modify your password or email address, or stop subscriptions at any time on your Subscriber Preferences Page. You will need to use your email address to log in. If you have questions or problems with the subscription service, please contact subscriberhelp.govdelivery.com. This service is provided to you at no charge by the Internal Revenue Service (IRS). This email was sent to justin+irs@bosseo.com by: Internal Revenue Service (IRS) · Internal Revenue Service · 1111 Constitution Ave. N.W. · Washington DC 20535

Annual Self-Certification and E-file Application URL Registration: A Must-Do for Authorized IRS e-file Providers As we step into October, it’s time for a crucial reminder for all Online Providers. The annual self-certification questions have to be completed to ensure compliance with the IRS e-file security, privacy, and business standards as outlined in Publication 1345. Who […]