Tax

The Internal Revenue Service’s Criminal Investigation division is cautioning taxpayers and tax professionals to beware of scams related to the expanded Child Tax Credit in which fraudsters are trying to steal money and personal information.

A new TIGTA report warns, however, that many didn’t follow the rules and could face potential tax penalties.

The service didn’t flag hundreds of millions of dollars of unsupported deductions.

The company automates all aspects of cryptocurrency tax compliance, and is looking at a valuation north of $1 billion.

U.S. lawmakers are wary of passing any legislation until they have strong assurances that other countries will also change their laws.

A new survey by Sovos highlights the ongoing digital evolution of the field.

A federal jury convicted a former Internal Revenue Service IT specialist on fraud charges for stealing a victim’s identity and using it to buy $58,000 worth of plane tickets, hotel rooms and home-remodeling materials.

The Senate Finance Committee chairman's legislation would streamline the 199A deduction for qualified business income, allowing accountants, lawyers, doctors and others to qualify, but phasing out above $400,000.

The pandemic and financial crimes; another provider leaves; why CRM and accounting don’t mix; and other highlights from our favorite tax bloggers.

Securities-based lending is up sharply as wealthy investors leverage gains in their stock portfolios into low-interest loans for pricey purchases.