Tax

IRS automated systems handle things a little differently than human examiners and practitioners should be aware of the differences.

The Internal Revenue Service rarely penalizes taxpayers who have high balances in foreign bank accounts and fail to file the proper forms, according to a new report.

The Senate Finance Committee ranking member introduced two bills cracking down on grantor retained annuity trusts and private placement life insurance.

IT hygiene; final tally; movements in the U.S. dollar; and other highlights from our favorite tax bloggers.

The Internal Revenue Service will need to be ready for a wave of tax return filings from procrastinating taxpayers, as well as requests for extensions.

From spotting anomalies to enhancing accuracy to streamlining client communication, tax preparers are no longer being bogged down by operational inefficiencies.

Fraudsters have been active again this tax season, but the increasing power of artificial intelligence is helping supercharge the danger of tax scams.

The IRS's Office of Professional Responsibility warned tax preparers of endorsing or negotiating taxpayers' federal refunds.

The war in Iran is prompting states across the country to consider temporarily cutting fuel taxes, a relief measure that could cost them millions of dollars.

The IRS declined to include accountants or tax preparers as qualified occupations, despite support in public comments.