IRS

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.

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.

The thresholds will all rise, according to the IRS.

The agency announced changes to more than 60 tax provisions.

The agency finalized plans to stop the temporary procedures for Forms 1045 and 1139.

The agency began digging into the massive tax law addressing issues that needed immediate clarification.

Though notorious for being complex, they can be incredibly helpful in the hands of tax professionals who know how to use them.

While the contributions aren’t deductible, distributions such as earnings are tax-free to the designated beneficiary if they’re used to pay for qualified disability expenses.

The agency issued guidelines scaling back a tax break for client entertainment, following through on an element of President Trump’s 2017 tax overhaul.

The final regulation includes guidance on the requirements needed for properties to qualify for the deduction.