In 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 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 MoreAccording to a recent report, the Internal Revenue Service (IRS) has flagged over 1 million 2022 tax returns for additional review over potential identity fraud.The Treasury Inspector General for Tax Administration’s interim
Read MoreResolving Tax Challenges: Unlocking Financial Freedom with an Installment Agreement and Tax Problem Solver's Expert TeamFacing tax-related challenges can be a stressful experience, leaving individuals
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 MoreThe Internal Revenue Service (IRS) said it would increase criminal investigations in the area of digital asset transactions and listed transactions.The federal agency identified certain transactions to
Read MoreTikTok is spreading tax mythsTikTok is spreading financial misinformation, according to a new report, including five troubling tax myths affecting self-employed workers.According to Paul Koullick, CEO
Read MoreThe Supreme Court ruled 5–4 in a fractured opinion on Feb. 28 that the IRS imposed an excessive fine on a businessman for failing to report foreign bank accounts, reducing the financial penalty from
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