Entries by Mirna Cartagena


IRS: Several tax law changes may affect bottom line of many business owners

WASHINGTON — The Internal Revenue Service today reminded business owners that tax reform legislation passed last December affects nearly every business. With just a few months left in the year, the IRS is highlighting important information for small businesses and self-employed individuals to help them understand and meet their tax obligations. Here are several changes […]


Low-income housing units nationwide may be offered to displaced victims of Hurricanes Michael and Florence, other recent disasters

WASHINGTON — The Internal Revenue Service has provided temporary relief from certain requirements of the Internal Revenue Code to allow owners and operators of low-income housing projects located anywhere in the United States and its territories to provide temporary emergency housing to individuals who are displaced by a major disaster from their principal residences, regardless […]

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Reduced 24-percent withholding rate applies to small businesses and other payers

Washington — The Internal Revenue Service today urged small businesses and other payers to check out the agency’s newly-revised backup withholding publication, now available on IRS.gov. Publication 1281, Backup Withholding for Missing and Incorrect Name/TIN(s), posted last month on IRS.gov, has been updated to reflect a key change made by the Tax Cuts and Jobs […]

Treasury, IRS issue proposed regulations on new Opportunity Zone tax incentive

WASHINGTON —The Treasury Department and the Internal Revenue Service today issued proposed regulations and other published guidance for the new Opportunity Zone tax incentive. Opportunity Zones, created by the 2017 Tax Cuts and Jobs Act, were designed to spur investment in distressed communities throughout the country through tax benefits. Under a nomination process completed in […]

Information Reporting Program Advisory Committee Issues 2018 Annual Report

WASHINGTON — The Information Reporting Program Advisory Committee (IRPAC) today issued its annual report for 2018 including numerous recommendations to the Internal Revenue Service on new and continuing issues in tax administration. The report includes a discussion on how to implement and/or improve processes such as those for the Change of Business Master File Entity […]

National Taxpayer Advocate identifies priority areas in mid year report to Congress; focuses on customer service

WASHINGTON — National Taxpayer Advocate Nina E. Olson today released her statutorily mandated mid-year report to Congress that presents a review of the 2018 filing season, identifies the priority issues the Taxpayer Advocate Service (TAS) will address during the upcoming fiscal year and contains the IRS’s responses to each of the 100 administrative recommendations the Advocate made […]

Electronic Tax Administration Advisory Committee issues 2018 annual report

WASHINGTON — The Electronic Tax Administration Advisory Committee (ETAAC) today released its annual report, featuring numerous recommendations on a range of issues in electronic tax administration. The Committee presented the report at a public meeting to IRS Acting Commissioner David Kautter. “The ETAAC works closely with the Security Summit in the fight against identity theft […]