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Features News Articles and Reports − keeping you up-to-date with local and international tax-related matters.
Internal Revenue Service Economic Relief for US Persons
US persons, including US citizens and resident aliens, now qualify for economic relief under the Families First Coronavirus Response Act of 2020 which was signed into law on March 18, 2020 . Every American adult with adjusted gross income (AGI) on their 2018 or 2019...
read moreInternal Revenue Service Extends Filing Deadline to 15 July 2020 – Payment and Filing Due Dates Now Aligned
The agency has now extended the filing, as well as the payment due dates, for 2019 individual, trust, estate and other domestic returns to July 15, 2020. This advice was issued in Notice 2020-18, superseding Notice 2020-17. Notice 2020-18 refers to Affected Taxpayers...
read moreIRS Announces April 15 Tax Payments Deadline 90-day Extension Due to Coronavirus
Today the US government announced tax relief due to COVID-19 including: a 90-day extension on year-end tax payments for 2019, otherwise due on April 15 2020. The automatic waiver of interest and penalties upon receipt of these otherwise late payments. Individuals with...
read moreFresh IRS warning to taxpayers with seriously delinquent tax debt
Following on from the January 2018 measures introduced under the FAST Act, the IRS released Notice IR-2019-23 on 27 February 2019.
The latest notice is a fresh warning to taxpayers with overdue debt. They are at risk of being unable to obtain, or renew, their US passport.
read moreFuture of Tax in NZ – Comprehensive Report Released
‘Tax avoidance reduces the integrity of the tax system and erodes social capital. It is also fundamentally unfair, because it means that compliant taxpayers must pay more to make up for the lost revenue’.
The Tax Working Group released its Future of Tax Final Report on 21 February 2019,
read moreInternal Revenue Service reopened
The Internal Revenue Service reopened on Monday, January 28, 2019, after a 35-day shutdown.
read moreIRS Status – Lengthy Call Centre Wait Times
The IRS reopened on Monday 28 January. Call centre wait times, including the international calling number, are typically around 2 to 3 hours.
read moreReactivation of IRS functions to begin
Reactivation of IRS functions should, in the absence of any information to the contrary, begin to occur next week. This advice came amid Friday’s news that the US government shutdown was over, at least for three weeks. In order for this to occur, according to the Lapsed Appropriations Contingency Plan (Tax Year 2018 Filing Season), funds will need to be appropriated for the IRS to continue its mission.
read moreLapsed Appropriations Contingency Plan – IRS status update
The 2018 filing season Lapsed Appropriations Contingency Plan (‘plan’) was released by the IRS a few days ago. The plan covers five business days following a lapse in appropriations should it occur during the Tax Year 2018 filing season (January 1 – April 30, 2019). Under the latest plan, more than 50% of the IRS workforce is required to return to work to perform activities classed in the plan as essential.
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