IRS

With the White House’s proposed Build Back Better legislation and its impact on taxes in limbo, advisors have time to implement key tax planning techniques.

A group of lawmakers teamed up Thursday to introduce bipartisan legislation that aims to create a workable structure for taxing purchases made with cryptocurrency.

IRS investigators say the frauds including money laundering, market manipulation and tax evasion — and even celebrities could get caught up in the agency’s probes.

It’s one of the hottest corners of crypto — and now the U.S. government wants its share of the profits.

The pandemic-related tax provision permits more people to deduct donations to qualifying charities on their 2021 federal income tax return.

Just 1,275 families paid $9.3 billion in estate tax in 2020, down from $20 billion from nearly 5,500 families in 2018.

The service’s recent move to set new requirements for claiming refunds on research tax credits is provoking an uproar among tax professionals.

The service released its annual inflation adjustments Wednesday, including the standard deduction amount for individual and married taxpayers.

The service lifted the limit from $19,500 as part of its annual inflation adjustments.

The Internal Revenue Service’s Office of Chief Counsel is spelling out new requirements for information from companies submitting claims for research credit tax refunds to prove they’re valid.

The IRS has blessed at least one approach to getting around the TCJA limitation — the entity-level tax.

Sure, you might have to actually pay U.S. taxes on those crypto trades. But at least it will be easier to figure out how much you owe.

New reports indicate 497 high-income taxpayers had over $150 million in their individual retirement accounts, and nearly 25,000 taxpayers had aggregate IRA account balances of $5 million or more.

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

National Taxpayer Advocate Erin Collins pointed to continuing backlogs at the Internal Revenue Service and difficulty reaching telephone assistance in a report to Congress Thursday.

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.

A combination of high valuations on companies and potentially higher levies in the future is proving to be a potent motivator for families to sell long-held businesses.

The disclosure of the personal income and tax data of some of the wealthiest Americans has been referred to additional federal investigators.

Group of Seven leaders are expected to endorse a plan to plug holes in the world’s leaky tax system when they meet this weekend.