Tax

The Internal Revenue Service Oversight Board issued a warning to Congress that the IRS is operating in a high-risk environment, with budget constraints leading to lower staffing levels and reduce customer service for taxpayers.

The Internal Revenue Service is reminding electronic filers to review their IRS e-file application to make sure the information is still current.

The Internal Revenue Service is cautioning tax preparers about delays in processing tax returns claiming the Child Tax Credit because of incorrectly filled out forms.

A pair of influential Senate Democrats have introduced legislation aimed at stopping multinational corporations from taking advantage of tax havens abroad.

The Internal Revenue Service announced that it would begin accepting tax forms covering depreciation on Sunday, February 10, and forms covering education credits on Thursday, February 14.

A Tennessee man has quit his job after receiving a W-2 tax form from his employer stamped with the number 666.

The Internal Revenue Service has stepped up its efforts this tax season to combat identity thieves who steal taxpayers’ tax refunds, participating in a nationwide sweep that nabbed 389 identity theft suspects last month alone.

The Internal Revenue Service has extended the deadline for including mandatory language in consent forms that tax preparers are expected to send to clients before disclosing or using their tax return information.

For taxpayers who scrambled to make last-minute gifts at the end of 2012 to take advantage of the gift tax exemption and lower tax rate, it was a good thing to do despite the fact that within 23 hours of year’s end, legislation passed averting the return to the old-law $1 million exemption and 55 percent maximum tax rate.

State budgets across the country collectively lost an estimated $40 billion in tax revenue due to corporations and individuals shifting their profits and income to offshore tax havens, according to a new report.