IRS
Get the latest news and insights on the Internal Revenue Services' tax laws, enforcement actions and related activities.
IRS Says Face Masks, Hand Sanitizers Are Tax Deductible
By Melanie WaddellIndividuals can deduct items purchased to prevent COVID-19 spread as long as their total medical expenses exceed 7.5% of income, the IRS says.
March 17, 2021
90 Million Stimulus Payments Sent, More Coming Soon: IRS, TreasuryFirst batch of payments issued mostly by direct deposit this past weekend, but Treasury also mailed roughly 150,000 checks worth $442 million.
March 17, 2021
Millionaires Owe IRS More Than $2B in Unpaid Taxes"Taxpayers having an average AGI of over $1.5 million paid the IRS an average of 39% of what they owe," a Treasury watchdog report states.
March 08, 2021
Lawmakers Urge IRS to Extend Tax Filing Deadline"We demand that the IRS announce an extension as soon as possible," Reps. Neal and Pascrell said.
March 03, 2021
IRS Drafts Update of Pension and Annuity Income GuideSome major changes relate to COVID-19 distributions and disaster tax relief.
February 24, 2021
Will the 2021 Tax Filing Deadline Be Extended? CPA Group Asks IRS for ClarityReports indicate IRS may move the April 15 deadline if Congress approves another round of economic impact payments.
February 23, 2021
IRS Gives Tax Filing Relief to Texans Hit by Winter StormsAffected taxpayers also have until June 15 to make IRA contributions for 2020.
February 17, 2021
House Democrats Float Bill to Close Carried Interest Tax LoopholeThe carried interest loophole "has allowed private equity tycoons to pay lower tax rates than their secretaries," said Rep. Bill Pascrell, one of the bill's sponsors.