IRS

Direct File will now be a permanent option for taxpayers in states that choose to participate, and New Jersey said it's in.

The agency provided an update July 25 on its Strategic Operating Plan, which sets out several priorities for the IRS to accomplish.

Danny Werfel said he's "fairly optimistic" the Supreme Court ruling won't deter future efforts to provide better taxpayer services.

Notice 2024-60, issued by the IRS on July 24, details how taxpayers can claim the credit for the sequestration of carbon oxide.

Individual and business taxpayers in 67 counties now have until Feb. 3, 2025, to file their returns and make tax payments.

The decision in Connelly v. United States last month impacts certain types of smaller businesses, in particular closely held companies.

As of July 14, taxpayers must sign in or register with either Login.gov or ID.me to access the FATCA registration system.

The agency has seen an influx of claims for the non-existent "self-employment tax credit," which is being promoted on social media.