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The Home Foreclosure and Debt Cancellation provision applies to debt forgiven in calendar years 2007 through 2016. Up to $2 million of forgiven debt is eligible for this exclusion ($1 million if married filing separately). The exclusion doesn¡¯t apply if the discharge is due to services performed for the lender or any other reason not directly related to a decline in the home¡¯s value or the taxpayer¡¯s financial condition.

FL-2024-07, Aug. 9, 2024 ¡ª The Internal Revenue Service announced today tax relief for individuals and businesses in Florida that were affected by severe storms and flooding that began on Aug. 1, 2024.

NC-2024-07, Aug. 9, 2024 ¡ª The Internal Revenue Service announced today tax relief for individuals and businesses in North Carolina that were affected by severe storms and flooding that began on Aug. 5, 2024. These taxpayers now have until Feb. 3, 2025, to file various federal individual and business tax returns and make tax payments.

KY-2025-02, Feb. 24, 2025 ¡ª The Internal Revenue Service announced today tax relief for individuals and businesses in the entire state of Kentucky affected by severe storms, straight-line winds, flooding, and landslides that began on Feb. 14, 2025.

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KY-2024-03, July 31, 2024 ¡ª The Internal Revenue Service announced today tax relief for individuals and businesses in Kentucky that were affected by severe storms, straight-line winds, tornadoes, landslides, and mudslides that began on May 21, 2024. These taxpayers now have until Feb. 3, 2025, to file various federal individual and business tax returns and make tax payments.

IR-2024-24, Jan. 29, 2024 ¡ª The Internal Revenue Service successfully opened the 2024 tax season today by accepting and processing federal individual tax returns as the agency continues focusing on expanding options to help taxpayers.

IR-2023-166, Sept. 8, 2023 ¡ª Capitalizing on Inflation Reduction Act funding and following a top-to-bottom review of enforcement efforts, the Internal Revenue Service announced today the start of a sweeping, historic effort to restore fairness in tax compliance by shifting more attention onto high-income earners, partnerships, large corporations and promoters abusing the nation¡¯s tax laws.

Get a closer look at how the IRS Office of Fraud Enforcement is combatting identity theft, refund fraud and other criminal activity and learn ways that you can help in the fight.

MS-2025-01, June 11, 2025 ¡ª The Internal Revenue Service announced today tax relief for individuals and businesses in parts of Mississippi affected by severe storms, straight-line winds, tornadoes, and flooding that began on March 14, 2025. These taxpayers now have until Nov. 3, 2025, to file various federal individual and business tax returns and make tax payments.