Tax

Wrong arm of the law; it all comes out in the wash; human nature and other highlights of recent tax cases.

The IRS issued Recovery Rebate Credits for the pandemic to nearly 301,000 ineligible taxpayers, many of whom were either immigrants or received extra payments.

The Institute asked for guidance from the IRS and the Treasury on the Trump Accounts for newborns as well other provisions of the One Big Beautiful Bill Act.

Lawmakers in Congress have their eyes on several pieces of tax-related legislation that may or may not get passed this year, though the upcoming November midterm election is bound to affect any possibility of the bills advancing.

The IRS introduced a new web page where taxpayers can confidentially report suspected tax fraud schemes, scams, evasion or other tax-related illegal activities.

Proposed regulations will affect the determination of taxable income or loss and foreign currency gain or loss with respect to a qualified business unit.

The latest data from the Internal Revenue Service on the current tax season shows the size of refunds significantly outpacing last year.

The president praised the impact of the One Big Beautiful Bill Act and his tariffs despite a Supreme Court ruling, while proposing new investment accounts.

Only a few state governments are ready to transition out of the IRS FIRE system and into its new IRIS system next year.

Next year, the IRS will retire its FIRE e-filing system and intro its new IRIS system. Tax practitioners need to make sure their vendors are ready for the changeover.