The Internal Revenue Service recently said it would postpone the $600 threshold for reporting transactions on Form 1099-K for the second year in a row, and begin to phase in a threshold of $5,000 starting
Read MoreThe IRS announced the establishment of a new division targeting “pass-through” entities, which the agency claims will hold America’s wealthiest tax filers “accountable.”Pass-through entities
Read MoreIn a series of new IRS compliance initiatives, the tax agency has its sights set on high-income, high-wealth entities and individuals. The IRS is, among other issues, going after individuals having over
Read MoreThe Internal Revenue Service's Criminal Investigation division is targeting illegal activity tied to sports betting as the pro football season gets underway.Between 2021 and 2023, IRS criminal investigators
Read MoreThe Internal Revenue Service is planning to address what it calls “large, complex partnerships” in an attempt to go after business entities that avoid paying taxes by abusing a known tax loophole.This
Read MoreThe Internal Revenue Service recently issued guidance on how taxpayers should report the special tax payments, refunds and rebates they received from states in recent years as a form of relief during the
Read MoreInternal Revenue Service employees weren't always following the proper rules when it came to directly contacting taxpayers instead of their representatives like CPAs, enrolled agents, and attorneys.Represented
Read MoreThe Internal Revenue Service is stopping most unannounced visits to taxpayers' residences and businesses by its revenue officers after a rising number of threats has put its employees' safety at risk.Appointment
Read MoreAudits of the rich cratered at the start of the pandemic. That's about to change.Armed with an extra $80 billion in funding for the next decade, the Internal Revenue Service is using the bulk of its war
Read MoreA group of senators on both sides of the aisle is asking the Internal Revenue Service's new commissioner, Daniel Werfel, to warn taxpayers and tax professionals about the emerging threat of tax scams produced
Read More