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IRS Announces Withdrawal Process for Employee Retention Credit Claims
Taxation
The IRS has established a new process that gives employers the ability to rescind what may have been inaccurate Employee…
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IRS’s Free Direct Filing Service Pilot to Start in January in 13 States
Taxation
The IRS will roll out its free tax preparation software as a pilot project in 13 states in January, the agency announced.…
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Yellen: U.S. Can't Sign Global Tax Treaty in Time to Prevent Levies from Other Countries
Taxation
The United States will be unable to sign a treaty on a global minimum corporate tax—one that it had a large role in…
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NAEA Urges IRS to Resume Sending Balance Due Notices
Taxation
The National Association of Enrolled Agents (NAEA) has asked the IRS to resume sending reminder notices immediately to…
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IRS Extends Deadlines for Taxpayers Affected by Terrorists Attacks in Israel to Oct. 7, 2024
Taxation
The IRS has announced that individuals and business affected by the recent terrorist attacks in Israel will have until Oct.…
Read More
IRS Projects Annual Tax Gap for 2021 to Rise to $688B
Taxation
The IRS has released a new tax gap projection, indicating that the projected gross tax gap increased to $688 billion for tax…
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TIGTA: Most of IRS’s Initial Inflation Reduction Act Spending Went to Taxpayer Services
Taxation
The Treasury Inspector General for Tax Administration (TIGTA) has issued a report finding that the majority of the IRS's…
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IRS Offers Guidance on Transferring Clean Vehicle Credits
Taxation
The IRS recently announced that it has issued proposed regulations, Revenue Procedure 2023-33 and FAQs for the…
Read More
IRS Warns of Improper Art Donation Deduction Promotions
Taxation
The IRS has been seeing a rise in fraudulent schemes involving tax deductions for donated art and has issued a warning to…
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