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IRS will audit more high-income taxpayers and large corporations. Here's what that means
Fast Company Magazine· 3 hours agoReduction Act (IRA) Strategic Operating Plan. The guide was originally published in April 2023 and outlines the agency’s plans to improve tax administration services following ...
Time running out to claim $1B in tax refunds: Are you eligible?
The Post-Standard· 1 hour agoIf you didn’t file a federal tax return for the 2020 tax year and you’re owed a refund, time is...
IRS says number of audits about to surge. Here's who it is targeting.
CBS News via Yahoo Finance· 4 days agoAudit rates for these companies will rise to 22.6% in tax year 2026 from 8.8% in 2019.Large...
The IRS says audits are about to surge — here’s who’s most at risk
New York Post· 3 days agoFor complex partnerships with assets topping $10 million, the IRS said it intends to increase audit...
Class Warfare: IRS Promises to Increase Audits of ‘Wealthy’ Taxpayers by at Least 50% – Report
IJR· 4 hours agoThe report also noted that audits on what the IRS calls the “wealthiest taxpayers, large...
Foreign Tax Credit Ruling Would Reduce US Expat Burden if Upheld
Bloomberg Law· 8 hours agoIf the appeal is denied...The US Court of Federal Claims ruled in 2023 that the IRS wrongly denied taxpayers Matthew and Katherine Christensen from using the US-France < ...
Optima Tax Relief Bolsters IRS-Sponsored VITA Program Throughout the Community
Digital Journal· 5 days agoThis grant program aims to empower individuals and families by providing free tax preparation services to those with moderate incomes, as well as senior ...
IRS Releases Final Tax Credit Sale Regulations
The National Law Review· 6 days agoLate last week, the Internal Revenue Service (“IRS”) and Department of the Treasury released final regulations relating to transfers of certain tax...
Bipartisan Proposal Would Not Tax Staking Rewards Until Time of Sale
The National Law Review· 2 hours agoThe proposal provides that digital asset staking rewards would be taxable upon disposition, rather...
Not So Cryptic: IRS Increases Oversight on Cryptocurrency Income Tax Reporting Requirements | JD...
JD Supra· 4 days agoCryptocurrency has revolutionized the financial markets but also created tax traps for the unwary investor. Building on proposed regulations issued last year, the