IRS

Individuals have already started receiving requests for information, according to tax attorneys.

Cryptocurrency exchanges, many of which aren't based in the U.S., don't require any registration or account information, writes Alexis Leondis.

The Treasury Department estimates added enforcement could capture an additional $700 billion in tax dollars.

The Biden administration is also calling for banks to report on account flows to help boost tax-payment compliance.

The focus is supposed to be on the wealthy and corporations, since they're the ones who account for the majority of tax misconduct, but what does that mean exactly?

Bizarrely, the administration’s plan targets two loopholes that pass-throughs often use to lower their tax bills, says Bloomberg's Alexis Leondis.

Some former IRS officials say it will take several years to produce significant results.

Having had higher income in previous years may prevent a taxpayer from receiving a stimulus payment now, writes Jeffrey Levine.

Heirs of IRAs and 401(k)s won't need to take annual distributions before cashing out within a decade of receiving the plans, the agency says.

If passed, the package would end the step-up in basis provision, which will mean significantly larger tax bills for wealthy estates.