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IRS says number of audits about to surge. Here's who it is targeting.
CBS News via Yahoo Finance· 4 days agoThe IRS says it is about to ramp up audits as it cracks down on tax cheats and seeks to deliver more...
IRS News Release: Reminder to File 2020 Tax Returns to Claim $1B in Tax Refunds Expiring on May 17
Bloomberg Law· 41 minutes 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 ...
Class Warfare: IRS Promises to Increase Audits of ‘Wealthy’ Taxpayers by at Least 50% – Report
IJR· 4 hours agoA new report from the Internal Revenue Service lays out a roadmap for the future and reveals that...
IRS will audit more high-income taxpayers and large corporations. Here's what that means
Fast Company Magazine· 3 hours agoThe Internal Revenue Service (IRS) last week released an annual update on its Inflation Reduction Act (IRA) Strategic Operating Plan. The guide was originally published in ...
IRS PLR: Extension of Time Granted to Certify as a Qualified Opportunity Fund (IRC §1400Z)
Bloomberg Law· 3 hours agoThe IRS has published a private letter ruling on Section 1400Z and Treasury Regulations Section 301.9100 regarding extensions of time to make an election to be certified as ...
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 Unveils Plan to Crack Down on Wealthy Taxpayers
The Fiscal Times· 1 day agoThe IRS wants to increase its audit rate for taxpayers earning more than $10 million by about 50%, according to an updated operating plan released...
IRS PLR: Extension of Time Granted to Make Qualified Subchapter S Trust Election (IRC §1362)
Bloomberg Law· 3 hours agoThe IRS has published a private letter ruling on Section 1362 regarding the extension of time to make a qualified subchapter S trust election for federal tax purposes. [PLR 202418003] ...
IRS Modernization Efforts Pose Challenges as Enterprises Embrace eFiling
PYMNTS.com· 2 days ago“Like any large business, the IRS has a vast portfolio of operating systems,” Walker said. The...
IRS says audits for rich people and corporations are about to hit a whole new level. Buckle up.
MarketWatch via Yahoo Finance· 3 days ago“This report should lay to rest any lingering myth about a super-sized IRS,” IRS Commissioner Danny...