IRS

The Internal Revenue Service has decided to stop automatically levying penalties when a taxpayer files a form reporting foreign gifts too late.

The number of taxpayers filing individual income tax returns is projected to increase by about 10,000,000 over the next eight years.

Foreign gifts and penalties; FBARs and the Constitution; contention and confusion; and other highlights from our favorite tax bloggers.

The number of taxpayers filing Forms 1040 and 1040-SR are projected to increase by about 10,000,000 over the next eight years.

The IRS is pushing back filing and payment deadlines for those impacted in Juneau.

The Internal Revenue Service did little to stop fraudsters who used the Practitioner Priority Service Line to fraudulently claim nearly $462 million in refunds, per the Treasury Inspector General for Tax Administration.

Questions have been raised about how Crowdstrike accounted for the deal in its financial statements.

Final regulations are also available for the Advanced Manufacturing Production Credit established by the Inflation Reduction Act.

The Internal Revenue Service is looking to boost its historically low audit rates for complex arrangements.

The Internal Revenue Service set the credit at $1.25 to $1.75 per gallon of fuel with a minimum reduction of 50% of GHGs.

The Treasury and the IRS granted a filing exception for tax-exempt organizations, saying they don't have to file Form 4626 for tax year 2023.

The Internal Revenue Service issued its annual inflation adjustments for tax year 2025, including changes in the standard deduction, marginal rates, tax credits and more.

Local measures galore; AI to the rescue; franchisees' checklist; and other highlights from our favorite tax bloggers.

The IRS is reminding tax pros to register for or renew their professional ID number by Dec. 31.

Plus, TaxPlanIQ announces virtual summit; IRS announces availability of 18 online seminars; and other accounting tech news.

So far, around 150 federal disaster declarations have already been announced for 2024, involving 44 states, two territories, and half a dozen Native American tribes or bands.

Starting in January, cryptocurrency will need to be reported to the IRS on an account-by-account basis versus the "universal wallet" approach most had been using.

The IRS is warning taxpayers about the red flags that a 'charity' seeking donations may not be on the up and up.

The Internal Revenue Service says it is processing some 400,000 claims for the Employee Retention Credit, representing about $10 billion of eligible claims.

Tax cuts and Mickey's slice; avoiding FBARs; COLA wars; and other highlights from our favorite tax bloggers.