IRS

Long-awaited proposed guidance gives details on the new tax credits for electric vehicles under the Inflation Reduction Act.

The majority of the service's extra funding from the Inflation Reduction Act is currently dedicated to improving tax enforcement to collect more revenue.

The Internal Revenue Service issued a revenue ruling that aims to prevent abuse of stepped-up basis adjustments in irrevocable grantor trusts.

The Swiss bank continues to help rich Americans hide assets from the IRS nearly a decade after a unit pleaded guilty to tax-evasion conspiracy, the Senate Finance Committee said.

1099 trouble; getting a partner out; oh BOI; and other highlights from our favorite tax bloggers.

The IRS is pushing back filing and payment deadlines for affected taxpayers.

The IRS proposed new rules on non-fungible tokens this week, and accounting professionals in the space see the agency starting to get serious about these assets.

The service's Criminal Investigation unit investigated 975 tax and money laundering cases related to COVID-19 with fraud totaling $3.2 billion.

"Our budget request provides steady-state operational funding," Yellen said. "It will complement the one-time, long-term investment in the IRS."

The Internal Revenue Service updated its frequently asked questions about the information return for reporting transactions involving payment cards and third-party networks.

Evaporation of banks; slow filers; crypto and normal taxes; and other highlights from our favorite tax bloggers.

The proposed regs cover the advanced manufacturing credit in the CHIPS Act of 2022 to spur development of the U.S. semiconductor industry.

The service issued preliminary guidance and intends to issue more detailed guidance soon on the tax treatment of nonfungible tokens.

The service lays out what can — and what can't — be paid for with medical savings accounts when it comes to nutrition, wellness, general health and more.

The IRS system will be down for most of the morning for routine maintenance.

Some professionals are predicting that the IRS will start looking more closely at the willful versus nonwillful standard in filing the form late or incorrectly. 

Every year without fail, cybercriminals take advantage of tax season to steal money from innocent people trying to be good citizens.

The agency had scaled back audits of all taxpayers between 2010 and 2019, with the total audit rate falling to 0.25% from 0.9%.

The service is largely blaming third-party promoters, but it's putting some of the burden of fixing the problem on tax preparers.

The IRS did not meet a requirement under the Taxpayer First Act to create an online system for processing business transcript requests by January 2023, according to a new report.