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IRS gives final warning to claim 2020 tax refunds
WPIX 11 New York· 2 hours agoNEW YORK (PIX11) – The IRS is sending the public a final reminder to claim refunds for the 2020 tax year. At least 1 million taxpayers haven’t filed...
The IRS says audits are about to surge — here’s who’s most at risk
New York Post· 4 days agoWhen the IRS conducts an audit, individuals or heads of businesses must meet with an auditor, who...
With $15 Million At Stake, IRS Argues For Foreign Grantor Trust Status
Forbes· 8 hours agoForeign trusts routinely cause U.S. reporting headaches for taxpayers. Generally, tax professionals...
Avoiding IRS Art Donation Audits Requires an Up-Front Checklist
Bloomberg Law· 6 hours agoArt may be in the eye of the beholder, but art valuation for tax purposes is in the eye of the IRS. Improper deductions based on inflated art valuations are now in the agency ...
Case: Failure-To-File Foreign Information Reporting Penalties are “Assessable,” Tax Court Opinion...
Bloomberg Law· 22 hours agoThe IRS may proceed with administrative collection of I.R.C. §6038 penalties because the text, structure, and function of the statute demonstrate that Congress authorized assessment of penalties by the IRS, ...
Court Unanimously Overturns Farhy, Finding IRS Has Authority To Assess Penalties
Forbes· 4 days agoThe D.C. Circuit Court issued a ruling today that the IRS does have the authority to assess foreign information return penalties. The ruling was unanimous, 3-0, with Circuit ...
$1 billion tax refund deadline looms
Newsweek· 2 hours agoAbout one million people have not filed their tax year 2020 returns and might be missing out on refunds should they fail to do so before the May 17...
IRS News Release: Reminder to File 2020 Tax Returns to Claim $1B in Tax Refunds Expiring on May 17
Bloomberg Law· 23 hours agoReminder to about 1 million people who didn’t file their tax year 2020 returns that they may be eligible for a refund if they file by May 17, the IRS announced. A state-by-state ...
Unclaimed refunds: 31K people in Ohio eligible
WJW via Yahoo Finance· 18 hours agoOne million people didn’t file their tax year 2020 returns, including more than 31,000 of them in Ohio, according to IRS data. That data indicates the...
IRS Clarifies SECURE 2.0 W-2 Changes | PLANADVISER
PLANADVISER· 18 hours agoThe releases clarify how W-2 forms are affected and how major disaster distributions are to be documented. On May 2, the IRS issued a release explaining how SECURE 2.0 provisions ...