Tax

The service is providing relief to most individual and business taxpayers who filed their 2019 or 2020 returns late due to the pandemic.

Rich Americans are hiding "vast amounts of income" from the Internal Revenue Service by exploiting a "deeply troubling" loophole in FATCA, according to a Senate report.

The agency has become a target of GOP lawmakers in recent weeks after President Biden signed a new spending law with funding for tax enforcement, technology upgrades and taxpayer service.

Scare tactics about the IRS; marketing for one; a new blog; and other highlights from our favorite tax bloggers.

The Inflation Reduction Act has highlighted the perpetual tension within the agency between helping taxpayers and auditing them.

There are several key strategic considerations for the in-house practitioner to put their company in a strong position to resolve a tax dispute.

Most studies showing "tax alpha" through tax-loss harvesting assume investors are already rich, taxed in the highest brackets and flush with short-term capital gains.

The proposed update aims to improve the accounting and disclosures for investments in tax credit structures.

The bill would force the rich to declare their assets at current value, unlike the old law, which allowed them to report assets at their original purchase price.

The Empire State is expanding a tax break that allows smaller companies to circumvent the $10,000 limit on state and local tax deductions.