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IRS Confirms Tax Filing Season to Begin January 28

WASHINGTON ― Despite the government shutdown, the Internal Revenue Service today confirmed that it will process tax returns beginning January 28, 2019 and provide refunds to taxpayers as scheduled. “We are committed to ensuring that taxpayers receive their refunds notwithstanding the government shutdown. I appreciate the hard work of the employees and their commitment to the taxpayers during this period,” said IRS Commissioner Chuck Rettig. Congress directed the payment of all tax refunds through a permanent, indefinite appropriation (31 U.S.C. 1324), and the IRS has consistently been of the view that it has authority to pay refunds despite a lapse

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Consumer Alerts on Tax Scams

‪Note that the IRS will never: Call to demand immediate payment using a specific payment method such as a prepaid debit card, gift card or wire transfer. Generally, the IRS will first mail you a bill if you owe any taxes. Threaten to immediately bring in local police or other law-enforcement groups to have you arrested for not paying. Demand that you pay taxes without giving you the opportunity to question or appeal the amount they say you owe. Ask for credit or debit card numbers over the phone. For more information on tax scams, please see Tax Scams/Consumer Alerts.

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IRS issues guidance on Section 179 expenses and Section 168(g) depreciation under Tax Cuts and Jobs Act

IR-2018-257, December 21, 2018 WASHINGTON — The Internal Revenue Service issued Revenue Procedure 2019-08 today to provide guidance on deducting expenses under Section 179(a) and on deducting depreciation under Section 168(g).  These rules, as amended by the Tax Cuts and Jobs Act (TCJA) in December 2017, generally apply to tax years beginning after 2017. Section 179 allows taxpayers to deduct the cost of certain property as an expense when the property is placed in service.  For tax years beginning after 2017, the TCJA increased the maximum Section 179 expense deduction from $500,000 to $1 million. The phase-out limit increased from

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