Tax

A bipartisan group of lawmakers is proposing to boost affordable housing by 2 million units over the next decade by expanding a key tax credit.

The service is gearing up for a potentially massive tax-enforcement push if Congress passes a plan including $40 billion to expand audits on the wealthy.

The Internal Revenue Service is focusing on cryptocurrency tax evasion with virtual currencies like Bitcoin and nonfungible tokens, employing data analytics to uncover transactions that crypto users assumed were hidden.

Congress reintroduced legislation to prevent abuses of a tax break that’s supposed to protect public lands, but is often used as a tax shelter.

The $579 billion infrastructure deal is a win, yet the bipartisan plan faces hurdles in Congress that reflect challenges to the president's broader economic agenda.

The service released a Data Book Thursday highlighting its work this past fiscal year, particularly in response to the pandemic.

Faster than a speeding fraud; significant adjustments; register schmegister; smoked out; and other highlights of recent tax cases.

The cost of the expenditures would be offset by a variety of revenue-raising provisions, including stronger enforcement of tax collections from the wealthy.

Late M&A banker Jean-Marc Forneri’s Swiss lawyer and wealth manager were found guilty of helping him conceal assets and dodge taxes in a French crackdown on those who facilitate financial crime.

The IRS, tax preparers and taxpayers all scrambled to keep up with a rapidly changing situation this year.