IRS

The annual IRS announcement could affect certain clients seeking to avoid bumping up against higher rates when they file their federal income taxes.

Among other things, they may unintentionally snare mutual funds, an expert testifies.

The service will postpone the lower threshold, but will phase in a threshold of $5,000 for tax year 2024.

Five types of return are projected to increase in volume by more than 45% in FY 2023.

The Treasury and the IRS issued laid out possible regs to update the investment tax credit rules to encompass various forms of renewable energy.

The regulations address new subsections of the law from the SECURE 2.0 Act.

Rajiv Uppal will begin assisting with the agency's transformation work in early 2024.

Democratic lawmakers want the service to look into the possible abuse of tax breaks on the island.

IFAC and FASB both appoint and reappoint board members; RSM raises $4.7M for nonprofits via Power of Love program; and more news from across the profession.

Thanks to the lower threshold, the service expects to receive about 44 million 1099-Ks in 2024, up from about 14 million.

The big AI question; staff pay; sourcing nonresident income; and other highlights from our favorite tax bloggers.

Commissioner Danny Werfel and Taxpayer Advocate Erin Collins discussed the enhancements the IRS has been making thanks to the additional billions of dollars of funding.

The service's decision to destroy around 30 million unprocessed paper information returns to reduce its backlog during the pandemic probably had little effect on taxpayers, according to a new report.

Planners and their clients can use the annual cost-of-living adjustments as a helpful reminder to consider tweaks to retirement savings and strategies, experts said.

In its annual report, the advisory council recommends that the agency prioritize educating lawmakers.

The IRS and preparers are preparing to navigate the filing season ahead.

Proposed regulations from the IRS are generally effective beginning in 2024.

The service announced its annual inflation adjustments, including increases in the standard deduction and changes in tax brackets.

CPAs' real pay; crypto data released; factoring receivables; and other highlights from our favorite tax bloggers.

The Treasury secretary addressed a group of service employees as the agency fends off cuts pushed by House Republicans.