Tax penalties

The Internal Revenue Service should make more of a priority of going after tax preparers who haven’t filed their own tax returns or paid their tax liabilities and penalties, according to a new report.

Ask the average business owner if they have a tax shelter and they’d probably have a chuckle while wistfully thinking about how nice it would be to swim in crystal clear waters while their offshore bank accounts grew, unencumbered by state and federal taxes.

For tax year 2018 filings, the IRS made a drastic change to the Form 1065, U.S. Return of Partnership Income, that went unnoticed by most practitioners.

Three pieces of IRS guidance have created changes for taxpayers and preparers.

The Internal Revenue Service is automatically waiving the estimated tax penalty for hundreds of thousands of eligible taxpayers.

Accountants may see some of their business clients getting caught up this summer in IRS activities to enforce the Affordable Care Act.

Bitcoin owners are being advised to pay back taxes on any income they failed to report.

The Internal Revenue Service issued a warning Friday to taxpayers who haven’t yet filed their 2018 tax returns.

The Internal Revenue Service tends to impose relatively few accuracy-related penalties during audits of large businesses, according to a new report.

Hedge fund giant Renaissance Technologies is in talks to resolve a dispute with the Internal Revenue Service over a tax maneuver that saved its owners billions of dollars.