Fact Sheets 2019

FS-2019-15, November 2019 ― As part of a larger effort by the Internal Revenue Service to ensure fairness in the tax system, the IRS is taking steps to conduct special compliance efforts for individual and business taxpayers in various communities.

FS-2019-14, October 2019 ― One of the advantages of someone running their own business is hiring family members.

FS-2019-13, October 2019 ― Families often hire individuals to care for children and dependents in their home, so family members can work or actively look for work.

FS-2019-12, October 2019 ― Employers who provide paid family and medical leave to their employees may claim a credit for tax years 2018 and 2019.

FS-2019-11, September 2019 - The Internal Revenue Service periodically estimates the tax gap to gauge historical overall compliance of all types of taxpayers with their federal tax obligations.

FS-2019-10, June 2019 - When a tax return’s information doesn’t match data reported to the Internal Revenue Service by employers, banks and other third parties, the IRS will send a letter to the taxpayer.

FS-2019-9, April 2019 - The multi-year IRS Modernization Plan includes dozens of initiatives to improve how the agency interacts with taxpayers and the tax community while continuing to strengthen cybersecurity protections and information technology systems.

FS-2019-8, April 2019 - Many individuals, including owners of businesses operated through sole proprietorships, partnerships, S corporations, trusts and estates may be eligible for a qualified business income deduction, also called the section 199A deduction.

FS-2019-7, April 2019 — In a global economy, many people in the United States have foreign financial accounts.

FS-2019-6, April 2019 - The U.S. tax system operates on a pay-as-you-go basis. This means that taxpayers need to pay most of their tax during the year, as the income is earned or received.

FS 2019-5, April 2019 ― The IRS reminds taxpayers about the importance of timely filing and paying their taxes, and that there are several options available to help people having trouble paying.

FS-2019-4, March 2019 - The federal income tax is a pay-as-you-go tax. Taxpayers pay the tax as they earn or receive income during the year.

FS-2019-3, March 2019 ― The Tax Cuts and Jobs Act (TCJA) included a few dozen tax law changes that affect businesses.

FS-2019-2, February 2019 — The Tax Cuts and Jobs Act (TCJA), enacted in late 2017, produced the most sweeping tax law change in more than 30 years.

FS-2019-1, February 2019 ― Federal law requires a person to report cash transactions of more than $10,000 by filing IRS Form 8300, Report of Cash Payments Over $10,000 Received in a Trade or Business.

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