Treasury Department

Understanding these updates is critical in guiding the tens of millions of LLCs, closely held businesses, and other small-business clients through the complexities of beneficial ownership compliance.

In the first half year of Inflation Reduction Act-funded enforcement, the Internal Revenue Service has recovered over $1.3 billion.

The state of Maryland has become the latest to sign up for the IRS Direct File program for filing season 2025, offering residents a free way to file their taxes.

Investments in solar installations made are expected to fund the generation of close to 2 billion kilowatt hours of clean electricity each year in underserved places.

The Keystone State will become the 15th to join the IRS's free tax program next filing season.

The Internal Revenue Service reported further progress on offering more online tools and expanded taxpayer service.

The Treasury and the Internal Revenue Service issued final regulations on reporting by brokers on dispositions of digital assets such as cryptocurrency for customers in certain sale or exchange transactions.

The Internal Revenue Service switched over from focusing its audits on taxpayers earning $10 million or more to those earning $400,000 or more after passage of the Inflation Reduction Act.

The Treasury Department provided formal notification to Russian authorities that it's partially suspending a tax treaty as relations worsen over the war in Ukraine.

The Treasury Department and the Internal Revenue Service released prevailing wage and registered apprenticeship requirements for clean energy projects and jobs to qualify for tax credits under the Inflation Reduction Act.

The Internal Revenue Service and the Treasury Department issued guidance answering questions related to educational assistance programs.

The Internal Revenue Service has been making efforts to reduce the overall amount of space it rents, but it nevertheless has lots of unnecessary space that it's paying hundreds of millions of dollars for every year.

The proposed rules on the Clean Electricity Production Credit and the Clean Electricity Investment Credit aim to spur renewable energy development.

One man, in the eyes of Donald Trump, is a "money machine." The other is a guy named "Scott."

The U.S. government recorded a higher surplus for the month of April thanks to a rise in tax receipts, while steeper debt-servicing costs impose a major drag.

The landscape of Corporate Transparency Act beneficial ownership information reporting continues to evolve, and accountants and others who advise small businesses need to stay ahead of the curve.

The Biden administration gave carmakers a partial reprieve in finalizing electric-vehicle tax credit rules intended to loosen China's grip on battery materials crucial to the car industry's future.

The Internal Revenue Service is looking at improvements in services and technology for both taxpayers and tax professionals.

The IRS and the Treasury released final regs on the tax credits, with specific rules for partnerships and S corporations.

Payments poured in at the government's mid-April deadline for income taxes.