IRS Offers Checklist of Reminders as Taxpayers Prepare to File 2024 Tax Returns, IR-2024-297
The IRS has offered a checklist of reminders for taxpayers as they prepare to file their 2024 tax returns. Following are some steps that will make tax preparation smoother for taxpayers in 2025:Create...

IRS Implements Measures to Prevent Refund Delays by Accepting Duplicate Dependent Returns with IP PIN, IR-2024-294
The IRS implemented measure to avoid refund delays and enhanced taxpayer protection by accepting e-filed tax returns with dependents already claimed on another return, provided an Identity Protection ...

IRSAC Issues 2024 Annual Report with Key Recommendations for Tax Administration, IR-2024-293
The IRS Advisory Council (IRSAC) released its 2024 annual report, offering recommendations on emerging and ongoing tax administration issues. As a federal advisory committee to the IRS commissioner, ...

IRS Announces Second Remedial Amendment Cycle For Code Sec. 403(b) Pre-Approved Plans, Announcement 2024-38
The IRS announced details for the second remedial amendment cycle (Cycle 2) for Code Sec. 403(b) pre-approved plans. The IRS also addressed a procedural rule that applies to all pre-approved plans a...

IRS Publishes Fiscal Year 2024 Financial Report and Receives Award for 2023 Report, IR-2024-286
The IRS has published its latest Financial Report, providing insights into the Service's current financial status and addressing key financial matters. The report emphasizes the IRS's programs, achiev...

IRS Allocates Unused Low-Income Housing Credits, Rev. Proc. 2024-41
The IRS has published the amounts of unused housing credit carryovers allocated to qualified states under Code Sec. 42(h)(3)(D) for calendar year 2024. The IRS allocates the national pool of unused ...

IL - Electricity excise tax regulations amended
Illinois amended electricity excise tax regulations to update and clarify:estimated tax payment and electronic funds transfer requirements;exemptions for enterprise zone or high impact businesses, Rei...