Tax

A top House Democrat suggested Thursday that his party scale back eligibility for child tax credits as a way to unlock President Joe Biden’s stalled economic agenda.

After coming under pressure from an array of tax and accounting professional associations and hundreds of members of Congress, the Internal Revenue Service said Thursday it would suspend issuance of some of its automated penalty notices to taxpayers, but tax and accounting groups say the agency isn’t providing enough relief.

CEOs are turning their attention away from the pandemic to fighting inflation, according to a survey by PwC.

The service is under pressure from lawmakers to stop penalties and pause automated collections from taxpayers who have been caught in a processing backlog.

While there's much that remains uncertain, there are a host of complications we can already identify.

Things are going to get difficult, and practitioners shouldn’t expect help from the IRS, experts warn.

There may be a silver lining for crypto investors selling at huge losses during the recent market turmoil.

American competitiveness is at stake, according to a top U.S. Treasury official.

A group of Senate Democrats want the expanded monthly Child Tax Credit payment as the “centerpiece” of any revived tax and spending agenda.

IRS investigators say the frauds including money laundering, market manipulation and tax evasion — and even celebrities could get caught up in the agency’s probes.