Tax News from Accounting Today

The IRS has been examining only a tiny fraction of tax filings from large partnerships due to staffing shortages and other resource constraints.

Sweeping review; year-end procedures; close the book; and other highlights from our favorite tax bloggers.

Approximately 1.4 million taxpayers have received notices that their tax refunds are being delayed because the IRS wants direct deposit information.

The Internal Revenue Service's efforts to leverage artificial intelligence are running into obstacles thanks to the severe cuts in staffing and budgets.

For many firms, a technology that was meant to make things better may instead prove to be yet another tax season headache.

CPAs dealing with the new 1099-DA rules this year are challenged by the fact that they only report gross proceeds this year, leaving them and their clients to calculate cost basis themselves.

The Internal Revenue Service vastly overstated the projected costs of operating the free tax prep program before terminating it, according to a new report.

The Internal Revenue Service issued a revenue procedure on how businesses can take advantage of new tax breaks offered by the OBBBA and withdraw elections made under the old rules.

The goal of regulation should not be unnecessary burdens or barriers to entry. The goal should be confidence that taxpayers are receiving reliable guidance.

More than 1.2 million taxpayers only have until April 15 to claim a total of approximately $1.2 billion in refunds for tax year 2022.

Plus, EY announces new software development model; SAP touts new integrations, features for Concur; and other accounting tech news and updates.

The unit will now be renamed Threadline Wealth, backed by investment from the Cynosure Group, and have $5.8 billion in client assets under management

GI series; On the eve of redemption; telecom con; and other highlights of recent tax cases.

A well-intentioned tax move can push retirees over a Medicare income threshold, leading to thousands in unexpected annual premiums. Here's how advisors avoid these costs.

The documents your clients are already gathering for their returns are the same documents an estate planner needs to build or update a comprehensive plan.

The IRS issued a notice extending temporary relief for another year on using alternative methods for brokers of digital assets, such as cryptocurrency.

Many firms are in the dark about exactly what to do for their clients in the wake of the Supreme Court ruling on President Trump's tariff authority.

Up in smoke; contingency planning; disaster strikes; and other highlights from our favorite tax bloggers.

Undercover investigators found pervasive incompetence, fraud and significant errors among a sample group of non-credentialed tax preparers in half a dozen states.

The IRS managed to get through last filing season despite extensive budget and staffing cuts, according to a GAO report, but is facing tax changes this year.