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Senator Asks IRS for Info on Impact of TCJA's Repeal of Deduction for Theft Loss
Taxation
Sen. Robert P. Casey Jr. (D-Pa.), chairman of the Senate’s Special Committee on Aging, is asking for information from the…
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IRS to Waive $1 Billion in Late Payment Penalties for Certain Taxpayers
Taxation
The IRS will waive nearly $1 billion in late-payment penalties for approximately 4.7 million individuals, businesses and…
Read More
IRS Extends Business Tax Accounts to S Corporations and Partnerships
Taxation
Individual partners of partnerships and individual shareholders of S corps are now eligible for a business tax account, the…
Read More
IRS Restructures Leadership in Effort to Streamline Operational Efficiencies
Taxation
The IRS has announced its plans for a new leadership structure for the first time in two decades. The new organizational…
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IRS to Propose New Rules for Foreign Tax Credit
Taxation
The U.S. Department of the Treasury and the IRS have issued a notice of their intention to issue proposed regulations…
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IRS Appeals Announces Areas of Focus for Coming Year
Taxation
The IRS's Independent Office of Appeals (Appeals) has announced its fiscal year 2024 organizational priorities. These…
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IRS Starts Disallowing Ineligible ERC Claims
Taxation
The IRS is sending more than 20,000 letters to taxpayers to inform them that their Employee Retention Credit (ERC) claims…
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IRS Fends Off Rumors of More Stimulus Checks
Taxation
A widely shared rumor on Facebook, is just that, SFGATE reported. The IRS will not be issuing another round of stimulus…
Read More
IRS Criminal Investigation Unit Identifies More Crimes Than in Previous Year
Taxation
The IRS's Criminal Investigation unit (CI) identified $37.1 billion in tax and financial crimes in fiscal year 2023,…
Read More
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