Blog

IRS urging certain groups of taxpayers to check payroll withholding

The IRS continues to urge taxpayers who haven’t yet done a “Paycheck Checkup” to do one as soon as possible to see if they’re having their employer withhold the right amount of tax after major changes in the tax law. The IRS Withholding Calculator can help taxpayers learn if they need to make changes soon […]

IRS issues proposed regs on new 20% deduction for passthru businesses

Media Relations Office                                                 Washington, D.C.                         Media Contact: 202.317.4000 www.irs.gov/newsroom                                                                                           Public Contact: 800.829.1040 IR-2018-162, Aug. 8, 2018 WASHINGTON — The Internal Revenue Service issued proposed regulations today for a new provision allowing many owners of sole proprietorships, partnerships, trusts and S corporations to deduct 20 percent of their qualified business income. The new deduction — referred to […]

Join the Department of Revenue to discuss tax year 2018 forms

Since the end of the 2018 Legislative Session, the Minnesota Department of Revenue has been working to update the state tax filing systems for taxpayer use in 2019, including updates to Minnesota tax forms. We have been gathering frequently asked questions and providing answers on our website’s FAQ page.  Earlier this month, we posted near final 2018 Minnesota income, business, and fiduciary […]

IRS urges taxpayers to check withholding now to avoid tax surprises later; Spotlights special tools during week of Aug. 13 to help people overlooking major changes

Media Relations Office                                         Washington, D.C.                         Media Contact: 202.317.4000 www.irs.gov/newsroom                                                                                           Public Contact: 800.829.1040 IRS urges taxpayers to check withholding now to avoid tax surprises later; Spotlights special tools during week of Aug. 13 to help people overlooking major changes  With the year more than halfway over, the Internal Revenue Service urges taxpayers who haven’t yet done […]

Information from Alan Gregerson/IRS Stakeholder Liaison

Media Relations Office             Washington, D.C.                Media Contact: 202.317.4000 www.irs.gov/newsroom                                                        Public Contact: 800.829.1040  IRS and Treasury issue proposed regulations implementing Section 965 IR-2018-158, Aug. […]

IRS NEWS FOR TAX PROFESSIONALS – August 2018

IRS NEWS FOR TAX PROFESSIONALS August 2018 ►UPCOMING WEB CONFERENCES None scheduled for August at this time. Please check Webinars for Tax Practitioners later. ►TAX REFORM The Tax Reform page has been re-designed. Much easier to navigate! Main page for Tax Reform Individuals Businesses Tax Exempt & Government Entities Tax Reform: Updates on Like-Kind Exchanges […]

Report of Foreign Bank and Financial Accounts (FBAR) from Senior Stakeholder Liaison Alan Gregerson

The IRS wants you to have the information you need when you need it. The following IRS Resources – FBAR document contains information about the Report of Foreign Bank and Financial Accounts (FBAR). Information relating to this topic will provide guidance and updates for you and your clients: If you have a financial interest in […]

Information on Filing Information Returns Electronically (FIRE)

  Ensure you have access to FIRE before you need it  If you plan to submit files through the Filing Information Returns Electronically (FIRE) system, now is a good time to ensure you can access the system before the February 28 and March 31 filing deadlines. An exciting new feature has been added to the […]

3/09/2018 Information from Alan Gregerson/IRS Stakeholder Liaison

Below is information from Alan Gregerson, Internal Revenue Service Senior Stakeholder Liaison, that he thought might be useful for our MNSEA members. What are the most common tax scams duping unsuspecting taxpayers out of their money or personal information? Find out next week as the Internal Revenue Service releases its 2018 list of “Dirty Dozen” […]

IRS News Release: Updated Withholding Calculator, Form W-4 Released; Calculator Helps Taxpayers Review Withholding Following New Tax Law

Media Relations Office                                     Washington, D.C.                         Media Contact: 202.317.4000 www.irs.gov/newsroom                                                                                           Public Contact: 800.829.1040 Updated Withholding Calculator, Form W-4 Released; Calculator Helps Taxpayers Review Withholding Following New Tax Law IR-2018-36, Feb. 28, 2018 WASHINGTON –The Internal Revenue Service today released an updated Withholding Calculator on IRS.gov and a new version of Form W-4 to help taxpayers check […]