IRS Highlights New Business Tax Account Features, FS-2024-27
The IRS announced that it is continuing to expand the features within Business Tax Account (BTA), an online self-service tool […]
Read MoreThe Financial Crimes Enforcement Network (FinCEN) is providing filing relief to taxpayers affected by the terroristic action in the State of Israel. Certain individuals and businesses affected by the terroristic action in Israel that are required to file Reports of Foreign Bank and Financial Accounts (FBARs) have until October 7, 2024, to file FBARs for the 2022 calendar year. The calendar year 2022 FBAR would otherwise be due October 16, 2023.
This expanded relief is offered to any individuals or businesses that have been provided tax relief under Notice 2023-71 (TAXDAY, 2023/10/16, I.3). If the IRS offers tax relief to additional individuals and businesses impacted by this terroristic action, those FBAR filers will automatically receive the same filing relief.
FinCEN will work with any FBAR filer who lives outside the areas directly impacted by the terroristic action but who must consult records located in the affected areas in order to meet the deadline. FBAR filers who live outside the affected areas seeking assistance in meeting their filing obligations (including workers assisting the relief activities who are affiliated with a recognized government or philanthropic organization) should contact the FinCEN Regulatory Support Section at 800-767-2825, or electronically at frc@fincen.gov.
FinCEN Notice FIN-2023-NTC4
The IRS announced that it is continuing to expand the features within Business Tax Account (BTA), an online self-service tool […]
Read MoreThe IRS has issued a series of questions and answers for 401(k) and similar retirement plans that provide, or wish […]
Read MoreThe IRS Whistleblower Office has recognized the contributions of whistleblowers on the occasion of National Whistleblower Appreciation Day, which falls on July […]
Read MoreThe floating interest rate applicable to taxes administered by the Florida Department of Revenue on underpayments (deficiencies) and late payments […]
Read MoreThe IRS has issued a reminder that summer day camp expenses may be eligible for the Child and Dependent Care tax […]
Read MoreThe IRS has updated frequently asked questions (FAQs) to provide guidance related to the critical mineral and battery component requirements […]
Read MoreThe IRS has issued a cautionary alert to taxpayers about a new scam exploiting clean energy tax credits. This emerging […]
Read MoreThe IRS reminded taxpayers that marijuana will remains a Schedule I controlled substance till a federal rule is published. Businesses […]
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