IRS

The Internal Revenue Service plans to begin issuing Economic Impact Payments to Social Security recipients and other federal beneficiaries this weekend after weeks of delay.

Taxpayers can get hit for each form they fail to file, not for each account, according to a new ruling.

The Internal Revenue Service’s Criminal Investigation division is partnering with tax authorities abroad to ferret out signs of tax fraud, targeting financial technology companies and cryptocurrency.

Announcement 2021-7(1) lets taxpayers deduct money spent on masks, wipes and other supplies in certain circumstances.

The Social Security Administration transmitted the necessary information to the IRS so it can begin sending Economic Impact Payments to nearly 30 million beneficiaries after an ultimatum from Congress.

The government has so far sent about 127 million stimulus payments to individuals and households.

U.S. taxpayers face the risk of delayed tax refunds as the agency struggles to work down a backlog of returns from last year, according to a watchdog report.

The Internal Revenue Service has changed the calculation for determining the $10,200 exclusion on unemployment benefits in the new pandemic relief package, allowing more taxpayers to qualify, but forcing tax software developers to update their programs.

If you got rich buying Bitcoin a year ago, Elon Musk is inviting you to purchase one of his cars with some of the proceeds. The taxman will be watching if you do.

A group of House Democrats is sounding the alarm about delays in Economic Impact Payments going out to beneficiaries of safety net programs.

When everybody wants returns; future CPAs; the lure of Tinseltown; and other highlights from our favorite tax bloggers.

Yet another IRS change to tax rules amid the COVID pandemic is complicating tax-planning opportunities for financial advisors this filing season.

The National Conference of CPA Practitioners is asking the IRS to postpone the tax deadline from May 17 until June 15 and to make it apply to quarterly estimated payments.

More than 20 percent of the wealthiest Americans’ income isn’t being reported to the Internal Revenue Service, according to a new study that calculates U.S. tax evasion is far higher than previously estimated.

Fewer than two out of every 100 taxpayers reporting over $1 million in income were audited by the Internal Revenue Service in fiscal year 2020, according to a new report.

The IRS will automatically process refunds for individuals who paid taxes on their unemployment benefits before Congress passed a law making those payments tax-free, Commissioner Chuck Rettig said.

The Office of Chief Counsel is expanding its Virtual Settlement Days.

The Internal Revenue Service’s delay of the April 15 tax-filing deadline to May 17 gives taxpayers an additional month to file returns and pay any outstanding levies.

The Internal Revenue Service has decided to use its discretion to avoid reducing the size of Economic Impact Payments with tax debts owed to the federal government.

The Internal Revenue Service is pushing back the tax-filing deadline until May 17 after heavy pressure from Congress and tax and accounting groups.