Tax

House Ways and Means Oversight Subcommittee chairman Bill Pascrell, D-New Jersey, is asking the Treasury Department to curb the use of irrevocable grantor trusts by wealthy families to avoid taxes.

An omnibus spending bill released by congressional appropriators would reduce a budget increase for the Internal Revenue Service previously passed by the House by over half.

The Treasury has sought to reassure a group of Republican senators the agreement will have a negligible impact on U.S. tax revenue.

The Empire State wasn’t the only one to come out ahead, with all 50 states receiving more from the federal government than their residents paid in taxes in fiscal year 2020.

Riding a demographic shift that predates the pandemic, Idaho has seen its sales tax collections increase by almost 40%.

The tax compliance software companies announced they have integrated their products to provide tax data solutions centered on information reporting and compliance.

Cracks and answers of income; myths of cheating; bonds and a stadium; and other highlights from our favorite tax bloggers.

The Internal Revenue Service has been increasing its tax audits of the lowest-income wage earners to keep its overall audit numbers from declining, according to a new report.

The service updated its FAQ on the Child Tax Credit on Tuesday with new information on eligibility and how to calculate the amount of the credits and payments.

With more states allowing gaming, more taxpayers need to be aware of the tax rules around winnings.