Tax

The Internal Revenue Service is renewing its call for extra money in its budget Monday as it closes out a challenging tax season.

Tax season ends today and some of you can rest well tomorrow after concluding a successful tax season. However, some of you won’t be resting easy because you had a lousy tax season.

Audits of high-net-worth filers require more time and expertise, and the agency’s underfunding has led to a significant loss of personnel capable of performing those.

The 2022 tax season, predicted by some to be a perfect storm, is coming to a close with barely a stiff wind.

The First Couple reported $610,702 in income in 2021 and paid $183,925 in federal and state income taxes, according to their annual tax return released Friday by the White House.

The Magic is gone; rent to scam; imprecision; and other highlights of recent tax cases.

Americans who have put off their 2021 taxes have less than a week to file a return or an extension — and fill them out accurately to avoid trouble from the IRS.

The service updated its FAQ on the credit, with additional information on receiving it on a 2020 tax return.

The projections foreshadow a sharp increase in corporate tax collections because of a pact between nearly 140 countries to implement a 15% minimum rate.

A court in the Channel Island of Jersey froze more than $7 billion of assets linked to Roman Abramovich, equivalent to half of his estimated wealth.