IRS

Collecting all unpaid income tax from the top 1% would boost revenue to the U.S. Treasury by $175 billion a year.

Fewer than two out of every 100 taxpayers reporting over $1 million in income were audited by the Internal Revenue Service in fiscal year 2020, according to a new report.

The Internal Revenue Service is pushing back the tax-filing deadline until May 17 after heavy pressure from Congress and tax and accounting groups.

“Even the easy returns are not simple right now,” a CPA says.

Leaders of the House Ways and Means Committee and accounting groups are calling for extending the tax deadline to give the IRS, taxpayers and tax professionals an extra three months.

A powerful financial boost in the new pandemic bill combined with tax rules may result in a stimulus check windfall for some young adults.

The Internal Revenue Service released guidance Monday for employers claiming the employee retention credit for 2020 and how it relates to eligibility for the Paycheck Protection Program.

Bitcoin and other digital currency investors face tax headaches and IRS scrutiny this filing season.

A ‘wave’ of claims for the Domestic Production Activities Deduction sparks an alert.

The Tax Court added its voice to the dilemma facing many taxpayers working remotely due to the pandemic.

New guidance shows how employees and employers can carry over unused money from flexible spending accounts and dependent care assistance programs.

The agency’s commissioner is upbeat, but tax preparers and financial planners worry that this year could be especially chaotic due to the COVID pandemic.

Some business owners can get hurt by workarounds to the $10,000 limit for state and local tax deductions.

If your clients are owners of a passthrough business entity, you may want to investigate whether or not electing-in to a state’s SALT Cap work-around is advisable.

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.