PaxPro Tax Relief

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IRS gives taxpayers new faxing option to request relief on late international forms
09/30/2024

IRS gives taxpayers new faxing option to request relief on late international forms

The IRS says this electronic option removes a step in the paper process, which saves time and eases the burden on international taxpayers.

IRS urges pre-filing registration for elective pay
09/27/2024

IRS urges pre-filing registration for elective pay

Organizations looking to claim elective pay for 2023 projects should complete the process in advance, the agency recommends.

IRS opens second version of Employee Retention Credit Voluntary Disclosure Program
09/25/2024

IRS opens second version of Employee Retention Credit Voluntary Disclosure Program

The IRS has announced a second ERC voluntary disclosure program for businesses who want to pay back the money they received after filing claims in error.

IRS can take more than a decade to pay whistleblowers who report tax cheats
09/23/2024

IRS can take more than a decade to pay whistleblowers who report tax cheats

The program, which has seen a dramatic drop in collections in recent years, has been beset by complaints about its opaque and lumbering process.

IRS opens 2025 Tax Compliance Program for Corporations
09/20/2024

IRS opens 2025 Tax Compliance Program for Corporations

The application period for the 2025 Compliance Assurance Process program will be from Sept. 4 until Oct. 31, the agency said Thursday.

IRS teams up to fight scams
09/17/2024

IRS teams up to fight scams

A new coalition of tax authorities, industry groups and others is combining to stop tax-related schemes.

You haven’t filed your tax returns in recent years? The IRS is coming
09/12/2024

You haven’t filed your tax returns in recent years? The IRS is coming

The agency is particularly targeting people who made $400,000 or more in years in which they didn’t file a return.

IRS Shares New Crypto Tax Form, Invites Industry Input
09/09/2024

IRS Shares New Crypto Tax Form, Invites Industry Input

The U.S. Internal Revenue Service (IRS) has released an updated draft version of the tax form crypto brokers and investors will use to report proceeds from certain transactions, the 1099-DA.

Americans Claimed More Than $8 Billion in Clean Energy Credits Last Year, IRS Says
09/05/2024

Americans Claimed More Than $8 Billion in Clean Energy Credits Last Year, IRS Says

Over 3.4 million U.S. families claimed $8.4 billion in tax credits to lower the costs of their home energy upgrades, new data shows.

IRS says it has stopped nearly $5 billion in bogus employee retention credit claims in recent weeks
09/03/2024

IRS says it has stopped nearly $5 billion in bogus employee retention credit claims in recent weeks

Despite criticisms that the process is taking too long, the IRS will continue to review ERC claims closely, according to IRS Commissioner Danny Werfel.

Taxpayers withdraw $400 million in ERC claims, IRS chief says
06/30/2024

Taxpayers withdraw $400 million in ERC claims, IRS chief says

Taxpayers have withdrawn almost $400 million worth of unpaid employee retention tax credit claims since the agency paused processing new claims in the fraud-plagued, pandemic-era program last fall, the IRS chief said.

IRS issues FAQs on retirement plan distributions and loans following major disasters
06/29/2024

IRS issues FAQs on retirement plan distributions and loans following major disasters

The IRS has answered some frequently asked questions (FAQs) related to distributions from retirement plans and loans for those impacted by major disasters.

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