Tax refunds

The Internal Revenue Service posted a set of questions and answers Monday to help companies claim net operating losses and tax credits for prior years so they can get faster tax refunds in the midst of the novel coronavirus pandemic.

The novel coronavirus pandemic has forced the Internal Revenue Service to dramatically scale back operations late in tax-filing season, according to a new report.

Americans will start to receive stimulus payments this week, a centerpiece of the $2.2 trillion rescue package meant to provide a buffer against the coronavirus pandemic that’s shuttered much of the U.S. economy.

The decision means companies and subsidiaries will want to establish clear tax allocation agreements.

The Supreme Court vacated and remanded Tuesday an appeals court decision that found under federal common law, a tax refund due from a joint tax return generally belongs to the company responsible for the losses that form the basis of the refund, rejecting a nearly half-century-old precedent.

The justices let stand an appeals ruling that precluded a tax refund to movie producers, deferring to an IRS regulation that ended the common-law mailbox rule for refund claims, even though Clarence Thomas reversed his position on an earlier case.

The number of tax refunds issued so far this tax season is down almost 5 percent compared to last year, an indication that many Americans didn’t withhold enough from their paychecks and could face bills from the IRS.

The court is set to rule whether a parent company or a subsidiary can claim the money.

Taxpayers are feeling good about their tax-filing abilities, according to a new survey, with 89 percent indicating they feel confident they have their withholding set up correctly and 95 percent saying they're confident that they're taking all the deductions they can.

Less than a thousand businesses were affected by an OMB determination involving the refundable corporate minimum tax credit.

Filing taxes last year was a nightmare for taxpayers, their accountants and the Internal Revenue Service. This year might not be much better.

Tracking refunds; an extra deadline; the Advocate’s report; and other highlights from our favorite tax bloggers.

The IRS’s new anti-fraud filters are unnecessarily flagging millions of tax returns and delaying legitimate tax refunds for weeks or months.

The company claims a huge amount of fuel taxes were improperly collected.

The IRS has ideas for taxpayers and their advisors to get ready for filing.

The recent release of the 2020 W-4 shines a spotlight on how preparers can help make sure the right amount is withheld.

Millions fewer people got tax refunds this year under the tax law overhaul that altered rates and paycheck withholding starting in 2018, according to new figures from the IRS.

The Internal Revenue Service hasn’t done enough to improve its procedures for reviewing amended tax returns to reduce erroneous and fraudulent tax refunds, according to a new report.

The House Ways and Means Committee unanimously approved a bill to allow same-sex couples who married before the Defense of Marriage Act was struck down by the Supreme Court to claim tax refunds.

Practitioners share how they got into the business — and why they stay.