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Financial News

News Releases for Current Month

In 2017, Some Tax Benefits Increase Slightly Due to Inflation Adjustments, Others Are Unchanged
IR-2016-139, Oct. 25, 2016 — The IRS today announced the tax year 2017 annual inflation adjustments for more than 50 tax provisions, including the tax rate schedules, and other tax changes.

Retirement Plans Can Make Loans, Hardship Distributions to Victims of Hurricane Matthew
IR-2016-138, Oct. 21, 2016 —The IRS today announced that 401(k)s and similar employer-sponsored retirement plans can make loans and hardship distributions to victims of Hurricane Matthew and members of their families. This is similar to relief provided this summer to Louisiana flood victims.

Offshore Voluntary Compliance Efforts Top $10 Billion; More Than 100,000 Taxpayers Come Back into Compliance
IR-2016-137, Oct. 21, 2016 — As international compliance efforts pass several new milestones, the IRS reminds U.S. taxpayers with undisclosed offshore accounts that they should use existing paths to come into full compliance with their federal tax obligations.

IRS Announces 2017 Tax Counseling for the Elderly and Volunteer Income Tax Assistance Program Grants
IR-2016-136, Oct. 19, 2016 — The IRS recently awarded over $21.5 million in TCE and VITA grants to organizations that provide free federal tax return preparation.

IRS Gives Expanded Tax Relief to Victims of Hurricane Matthew; Parts of Four States Eligible; Extension Filers Have Until March 15 to File
IR-2016-135, Oct. 17, 2016 –– Hurricane Matthew victims in much of North Carolina and parts of South Carolina, Georgia and Florida have until March 15, 2017, to file certain individual and business tax returns and make certain tax payments, the Internal Revenue Service announced today.

Online Seminars from the 2016 IRS Nationwide Tax Forums are Now Available
IR-2016-134, Oct. 17, 2016 — The IRS today reminded tax professionals that they can earn continuing education credits online through seminars filmed at the 2016 IRS Nationwide Tax Forums.

IRS Announces Position on Unilateral APA Applications Involving Maquiladoras
IR-2016-133, Oct. 14, 2016 –– The IRS today announced that U.S. taxpayers with maquiladora operations in Mexico will not be exposed to double taxation if they enter into a unilateral advance pricing agreement (APA) with the Large Taxpayer Division of Mexico’s Servicio de Administración Tributaria (SAT) under terms discussed in advance between the U.S. and Mexican competent authorities.

Many Victims of Hurricane Matthew Qualify for Late-Filing Penalty Relief; IRS Continues to Closely Monitor As Oct. 17 Deadline Approaches
IR-2016-132, Oct. 13, 2016 — The IRS today advised taxpayers affected by Hurricane Matthew but not yet covered by a federal disaster declaration with individual assistance that they may qualify for relief from penalties if they are unable to meet Monday’s extended deadline for filing 2015 tax returns.

IRS Gives Tax Relief to Victims of Hurricane Matthew; Many Extension Filers in North Carolina Now Affected; Relief for Other States Expected Soon
IR-2016-131, Oct. 11, 2016 –– North Carolina storm victims will have until March 15, 2017, to file certain individual and business tax returns and make certain tax payments, with similar relief expected soon for Hurricane Matthew victims in other states, the IRS announced today.

Tax-filing Extension Expires Oct. 17 for Millions of Taxpayers; Check Eligibility for Overlooked Tax Benefits
IR-2016-130, Oct. 7, 2016 — The IRS today urged taxpayers whose tax-filing extension runs out on Oct. 17 to double check their returns for often-overlooked tax benefits and then file their returns electronically using IRS e-file or the Free File system.

IRS Now Accepting ITIN Renewal Applications; Taxpayers Encouraged to Act Soon to Avoid Processing Delays in 2017
IR-2016-129, Oct. 6, 2016 — The IRS reminds taxpayers affected by recent changes involving the Individual Taxpayer Identification Number (ITIN) program that they can now begin submitting their ITIN renewal applications to the IRS.

IRS Advises Taxpayers to Prepare for Hurricanes, Floods and Other Natural Disasters
IR-2016-128, Oct. 5, 2016 —The IRS today offered advice to taxpayers who may be affected by storms or other natural disasters.

News Release and Fact Sheet Archive
News releases and fact sheets from November 2002 forward and an archive of news releases and fact sheets in PDF format back to 1997.

Page Last Reviewed or Updated: 25-Oct-2016