News & Updates

IRS provides revised answer for 2020 Recovery Rebate Credit on tracing payments

This updated FAQ includes a revision to the information on tracing payments under Topic F: Finding the First and Second Economic Impact Payment Amounts to Calculate the 2020 Recovery Rebate Credit:

These FAQs are being issued to provide general information to taxpayers and tax professionals as expeditiously as possible.

More information about reliance is available.

More information on the Recovery Rebate Credit is available on IRS.gov.

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Important Updates

Security Summit: Protect against tax identity theft with multi-factor IDs, Identity Protection PINs, IRS Online Accounts

In the fourth installment of a special summer series, the Security Summit partners today remind tax professionals and taxpayers about the IRS Identity Protection PIN and the IRS Online Accounts that can help protect against tax-related identity theft. The IRS and Security Summit also remind tax professionals that using multi-factor authentication is a best practice and a federal requirement to protect clients’ sensitive information.

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IRS reminds employers: Educational Assistance Programs can help pay employee student loans through 2025

The Internal Revenue Service today issued a reminder that employers can continue to use educational assistance programs to help employees pay down student loans through December 31, 2025.

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IRS has options to help taxpayers who missed the filing deadline

The Internal Revenue Service today highlighted several resources to help taxpayers who missed the April 2025 federal income tax return filing deadline and owe taxes, interest and penalties.

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