Tax

Staff have begun working through the backlog of correspondence and messages, and are expected to begin reaching out to tax pros and taxpayers soon.

The One Big Beautiful Bill Act offers a striking example of how policy design can favor businesses over individual taxpayers, particularly young professionals.

The IRS and the Treasury released interim guidance giving new tax benefits to banks that provide loans secured by rural or agricultural real property.

The American Institute of CPAs is urging the IRS not to merge its Office of Professional Responsibility with its Return Preparer Office to avoid confusion.

The issues concern the constitutional division of taxing power, the potential role of Congress in determining trade rules, and costs to businesses and households.

The president's comments come as Senate Republicans prepare to hold a vote on extending the tax credits, which are slated to expire at the end of this year.

Senator Todd Young is urging the IRS to reconsider guidelines on the tax treatment of rewards crypto owners collect for locking assets on a blockchain network.

A group of former Internal Revenue Service leaders discussed the state of the IRS at an AICPA tax conference after a wave of departures and layoffs.

Quant firm Dimensional Fund Advisors has received formal approval to adopt a fund structure that for two decades has been used exclusively by Vanguard.

Chicago Mayor Brandon Johnson's proposal to levy a $21-per-employee, per-month tax on companies was shot down by a city council committee on Monday.