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IRS commissioner warns of worse customer service, lower tax collection if budget is cut
CBS Austin· 11 hours agoIRS commissioner Daniel Werfel has made several pleas to lawmakers to leave the agency’s budget...
IRS Issues Final Regulations on Tax Credit Transfers | JD Supra
JD Supra· 5 days agoTreasury and the IRS confirmed that, if a partnership has not elected direct pay for credits pursuant to Sections 45V, 45Q, or 45X, it ...
Treasury Department and IRS Issue Final Regulations Regarding the Transferability of Tax Credits...
JD Supra· 2 days agoTreasury and the IRS reject relief from the application of the passive activity limitations to credit transferees, the ability of credit transferors to receive advance payments ...
With $15 Million At Stake, IRS Argues For Foreign Grantor Trust Status
Forbes· 16 hours agoForeign trusts routinely cause U.S. reporting headaches for taxpayers. Generally, tax professionals...
IRS plans to increase audit rates of wealthy taxpayers by 50%
CNN via AOL· 5 days agoThe Internal Revenue Service detailed its plans Thursday to significantly ramp up audit rates of...
IRS acts to address wide disparity in audit rates between Black taxpayers and other filers
Associated Press· 5 days agoThe IRS said Thursday that it has taken steps to address a wide disparity in audit rates between...
IRS says its number of audits is about to surge. Here's who the agency is targeting.
WLTX-TV Columbia· 5 days agoThe IRS says it is about to ramp up audits as it cracks down on tax cheats and seeks to deliver more...
IRS Notifying Taxpayers Whose Data Was Accessed In Leak That Hit Billionaires And Trump
Forbes· 6 days agoThe IRS is now notifying more taxpayers who were impacted by the Littlejohn data breach. Former IRS contractor Charles Littlejohn illegally accessed and ...
Week in Insights: IRS Is Happy to Trade Refunds for Compliance
Bloomberg Law· 2 days agoIRS would want to quietly pocket the unclaimed refunds, but it has good reason to motivate all taxpayers to file. The US tax system operates on a voluntary basis—each taxpayer ...
Weekly IRS Roundup April 22 – April 26, 2024
The National Law Review· 5 days agoCheck out our summary of significant Internal Revenue Service (IRS) guidance and relevant tax matters for the week of April 22, 2024 – April 26, 2024....