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House Republicans are attacking the IRS. Here’s how they want to cut $2 billion in funding.
Market Watch· 22 minutes agoThe bill “reins in wasteful spending and takes steps to prevent agencies like the IRS from unfairly targeting hardworking Americans,” said Rep. Dave Joyce, an Ohio Republican ...
East Palestine residents won’t have to pay taxes on some Norfolk Southern payments, IRS says
The Cleveland Plain Dealer· 12 minutes agoEast Palestine residents won’t pay taxes on most of the payments they received from Norfolk Southern...
IRS News Release: Document Upload Tool Reaches Key Milestone, One Million Taxpayer Submissions
Bloomberg Law· 1 hour agoIRS’s Document Upload Tool has accepted its one millionth taxpayer submission, the IRS announced. Initially launched in 2021 in a limited format and greatly expanded in 2023 with funding from ...
House GOP propose defunding IRS Direct File, further budget cuts to enforcement
Federal News Network· 3 hours agoHouse Republicans propose defunding the IRS’ Direct File platform, which allows households to file...
JD Supra: Treasury and the IRS Finalize Section 897 ‘Domestically Controlled’ Look-Through Rule
JD Supra· 2 hours agoOn April 24, the Internal Revenue Service (IRS) issued final regulations (Final Regulations) regarding Section 897. In December 2022, the IRS issued proposed ...
IRS News Release: Payments Received by Common Carrier for Last Year’s Ohio Train Derailment Are Not...
Bloomberg Law· 56 minutes agoIn many cases, payments received by individuals affected by last year’s train derailment in East Palestine, Ohio, are not taxable, the IRS announced. In Notice 2024-46, posted ...
IRS Notice: Certain Relief Payments Made to Individuals Affected by Last Year’s Ohio Train...
Bloomberg Law· 44 minutes agoThe Feb. 3, 2023, derailment of a freight train operated by a common carrier in East Palestine, Ohio, is a qualified disaster for purposes of I.R.C. §139, the IRS announced ...
IRS Reaches 1 Million Submissions With Document Upload Tool
Bloomberg Law· 2 hours agoThe IRS tool that allows taxpayers and tax professionals to respond to notices electronically hit 1 million submissions and continues to grow, the agency said Wednesday. Users ...
IRS to offer Direct File as permanent option - Gazette Journal
Gloucester-Mathews Gazette-Journal· 3 hours agoThe agency is exploring ways to expand Direct File to make more taxpayers eligible in the 2025 filing season and beyond by examining options to broaden Direct File’s availability across the ...
IRS Seeks Publisher Papers in Kentucky Newspaper Tax Examination
Bloomberg Law· 4 hours agoThe IRS petitioned a federal court to enforce its summons against the publisher of a local weekly newspaper in Harrodsburg, Ky., as part of its investigation into the paper ...