Tax

David Padrino will be spearheading many of the slated improvements funded by the IRA.

Tax experts testified during a hearing about the Employee Retention Credit and the issues they and their clients are facing.

Legislation to extend the 20% deduction for pass-through businesses beyond its expiration date in 2025 is attracting bipartisan support in the House and Senate.

Bad magic; this will hurt a bit; the Queen is dead; and other highlights of recent tax cases.

The service is using the extra funding it received from the IRA to audit big, complex partnerships using data analytics and other technology tools, while working on hiring more experienced accountants.

The Internal Revenue Service will be adding extra procedures to deter scammers who have been inundating the agency with bogus claims for the Employee Retention Credit.

Lawyers and federal prosecutors came to an agreement during the hearing to limit the plea deal to apply to only tax crimes, drug offenses and a firearm violation between the years 2014 to 2019.

The service is offering a program to speed up processing of requests for letter rulings from its associate chief counsel, mostly on behalf of corporations.

AI and the IRS; the 1099-DA; your best banking products; and other highlights from our favorite tax bloggers.

The reprieve at the beginning of 2023 was temporary — and nothing has been done to fix the long-term issue.