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Check here for the latest news of interest to tax professionals. We will update the page periodically as the news comes in.

CA-2023-02, January 24, 2023 ¡ª Victims of severe winter storms, flooding, landslides, and mudslides beginning December 27, 2022, now have until May 15, 2023, to file various individual and business tax returns and make tax payments, the Internal Revenue Service announced today.

You may be able to claim a foreign tax credit for foreign taxes paid to a foreign country or for a U.S. possession. Learn more.

MI-2024-01, Feb. 16, 2024 ¡ª The Internal Revenue Service announced today tax relief for individuals and businesses in parts of Michigan affected by severe storms, tornadoes and flooding that began on Aug. 24, 2023. These taxpayers now have until June 17, 2024, to file various federal individual and business tax returns and make tax payments.

Publication 559, Survivors, Executors and Administrators, is designed to help those in charge (personal representatives) of the property (estate) of an individual who has died (decedent). It shows them how to complete and file federal income tax returns and explains their responsibility to pay any taxes due on behalf of the decedent.

IA-2024-04, June 6, 2024 ¡ª The Internal Revenue Service announced today tax relief for individuals and businesses in Iowa that were affected by severe storms, tornadoes, and flooding that occurred on May 20, 2024. These taxpayers now have until Nov. 1, 2024, to file various federal individual and business tax returns and make tax payments.

RI-2024-06, April 4, 2024 ¡ª The Internal Revenue Service announced today tax relief for individuals and businesses in parts of Rhode Island affected by severe storms and flooding that began on Jan. 9, 2024. These taxpayers now have until July 15, 2024, to file various federal individual and business tax returns and make tax payments.

Estate/Wealth/Gift Statistics Personal Wealth

AL-2023-01, January 19, 2023 ¡ª Victims of severe storms, straight-line winds, and tornadoes beginning January 12, 2023, now have until May 15, 2023, to file various individual and business tax returns and make tax payments, the Internal Revenue Service announced today.

The gross tax gap is the difference between true tax liability for a given tax year and the amount that is paid on time. It is comprised of the nonfiling gap, the underreporting gap, and the underpayment (or remittance) gap. The net tax gap is the portion of the gross tax gap that will never be recovered through enforcement or other late payments.