IRS

The service has cleared its carryover backlog for original return processing, and other updates as we enter the home stretch.

The IRS has expanded its enforcement efforts, including cross-checking foreign accounts reported on FBARs with information reported on tax returns.

The IRS has pushed back payment and filing deadlines for those impacted by tornadoes and severe storms.

That decision may have been premature, according to a new report.

The service is extending a transition period for an exception to the requirement for companies to pay taxes on royalties for intellectual property abroad.

Proposed guidance aims to reduce U.S. reliance on China for batteries and minerals.

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.