All Internal Revenue Service News
Top stories summarized by our editors

Failure to report health coverage will not cause tax return rejection

2/17/2017

In response to President Donald Trump's Jan. 20 executive order requiring the federal government to reduce the burden of the Patient Protection and Affordable Care Act, the Internal Revenue Service issued guidance on how it will treat individual income tax returns that do not indicate whether the taxpayers had health insurance coverage.

IRS suspends guidance after Trump order

2/17/2017

An executive order from President Donald Trump restricts the issuance of new federal agency regulations, which has prompted the Internal Revenue Service to suspend offering any form of guidance for the time being, apart from routine notices such as interest-rate changes. The order instructs agencies to repeal two regulations for each new rule they issue.

New Trump order puts block on IRS guidance

2/16/2017

An executive order from President Donald Trump restricts the issuance of new federal agency regulations, which has prompted the Internal Revenue Service to suspend offering any form of guidance for the time being, apart from routine notices such as interest rate changes. The order instructs agencies to repeal two regulations for each new rule they issue.

IRS' large-business division announces 13 compliance campaigns

2/16/2017

The Internal Revenue Service has announced 13 initial compliance campaigns under its Large Business and International Division. The campaigns, which include repatriation of funds and third-party transactions, are part of a broader effort to emphasize high-risk issues.

IRS reverses policy on refunds for those who flout ACA coverage rules

2/16/2017

The Internal Revenue Service says it will not withhold tax refunds this year from people who do not prove they have complied with the Affordable Care Act's requirement that they have health insurance or show they are exempt. The IRS said the change aligns with President Donald Trump's executive order that sought to reduce ACA-related rules.

Some districts affected by phishing scam

2/15/2017

School districts are among employers being targeted by email scammers seeking to receive employee information to file fraudulent tax returns or steal identities, according to warnings from the Internal Revenue Service and the Consortium for School Networking. The email phishing scheme involves sending official-looking emails requesting such information from staffers, officials say.

IRS alerts practitioners of e-Services account suspensions

2/13/2017

On Monday, the Internal Revenue Service notified tax practitioners who did not re-register their e-Services accounts that their accounts are no longer active. It also instructed practitioners how to reinstate their accounts by going to the IRS e-Services webpages.

IRS warns about W-2 email phishing scam

2/13/2017

The Internal Revenue Service is warning about the growth of a W-2 email phishing scam in which fraudulent emails are sent to human resources departments seeking information about employees' tax data. The scam is now targeting schools and other organizations, in addition to for-profit companies, the IRS reports.

What you should know about employing your children

2/10/2017

Business owners who hire their children can deduct the wages, and the child's earnings can be contributed to an IRA on his or her behalf. However, it's important to keep detailed records to make sure the arrangement doesn't run afoul of the Internal Revenue Service or child labor laws.