IRS

One of only two political appointees at the Internal Revenue Service steps down ahead of the incoming Trump administration and is replaced by his deputy.

The Internal Revenue Service, along with the state tax authorities and tax industry companies that are part of its Security Summit, issued a warning Wednesday to tax professionals to beware of a new two-stage scheme from cybercriminals who are posing as clients soliciting services.

Nina Olson wants the Internal Revenue Service to take more of a “taxpayer-centric” approach and for Congress to focus on tax simplification in its tax reform efforts.

The Internal Revenue Service has issued a notice for determining the value of personal use of employer-provided vehicles under the Income Tax Regulations’ special valuation rules.

Clients who invest their IRAs in assets such as real estate, precious metals, private equity or virtual currency like bitcoin could be jeopardizing their savings, according to a new GAO report.

Notice says account transcript that includes a transaction code of “421” and the explanation “Closed examination of tax return” can serve as the functional equivalent of an estate tax closing letter.

The service has released its guidance for tax preparers on income tax refunds for 2017, including information on potential delays.

The American Institute of CPAs is asking the Internal Revenue Service to simplify the regulations and make them less of a burden.

The Internal Revenue Service and its partners in the tax preparation industry are improving their security measures ahead of the January 23 start of tax season.

Bank agrees to pay $95 million to settle allegations it used underfunded shell companies to evade taxes, the second time since 2010 that it resolved a government tax case.

The Internal Revenue Service has released guidance easing penalties for some mistakes.

Victims of the October storm in parts of North Carolina may qualify for tax relief from the IRS.

Kicking off the New Year with: Four Good Tax Moves; “Tax Offender of the Year; “Social Media Checklist for Tax Preparers;” and other highlights from our favorite tax bloggers.

Regulations would cover withholding and reporting on money made from horseracing, dog races and jai alai pari-mutuel betting, along with reporting on bingo, keno and slot machine payouts.

The service saw a record number of filings this year, and collected $1.4bn in income tax.

Notice alerts taxpayers and practitioners the Service may challenge certain investment schemes as tax avoidance transactions.

More last-minute tax strategies to cram in before Dec. 31; an overview of prevalent tax scams; and other highlights from our favorite tax bloggers.

How clients can take advantage of this approach to managing their wealth after death, even if President-elect Trump enacts his proposed reforms. Plus, juicy deductions that come with owning a car and a smart portfolio trick to consider after this year's monster bull market.

The IRS has tips for tax preparers to prevent identity theft in the approaching filing season.

The IRS announced that one of its filing pages for nonprofits will be closed for maintenance over the next few weeks.