IRS

The Internal Revenue Service’s Criminal Investigation Division issued a warning Thursday about a new wave of COVID-19 scams tied to the latest round of stimulus payments, especially targeting taxpayers in the District of Columbia.

The Internal Revenue Service and the Treasury Department released guidance on claiming deductions for expenses associated with Paycheck Protection Program loans that have been forgiven.

The Internal Revenue Service is increasing many of the fees for requests for private letter rulings by 26.7 percent, starting Feb. 4.

Private collection agencies that have contracted with the Internal Revenue Service to collect overdue tax debts have collected nearly $500 million since 2017, according to a new report, but that’s just a fraction of the over $30 billion owed.

It's typically advised to shift income into the future to reduce tax bills for the current year. But experts say that may not be the best approach.

A group of 25 Democrats in the House wrote to congressional leaders asking them to provide $12.1 billion in funding for the Internal Revenue Service, including $5.2 billion for enforcement, with an eye toward cracking down on high-income tax cheats.

The rules address the definition of real property, and how to handle personal property included in an exchange.

The guidance clears up the tax treatment of expenses when a loan from the Paycheck Protection Program hasn’t been forgiven by the end of the year.

Whether the law changes next year or in 2025, wealthy clients can save by using the generous provisions now.

An estimated 9 million people haven't yet received Economic Impact Payments provided under the CARES Act.