Many of the 145 million Americans who filed individual tax returns this year might feel like they just got a tax break.Substantial inflation adjustments made recently by the Internal Revenue Service mean
Read MoreThe Internal Revenue Service is making progress on its backlog of unprocessed tax returns, as it's asked by the American Institute of CPAs to extend its recently announced penalty relief through the end
Read MoreThe IRS mistakenly posted confidential information from approximately 120,000 individuals on its website before discovering the error on Aug. 26 and taking it down.The Internal Revenue Service admits it
Read MoreThe Inflation Reduction Act of 2022 – new multi-billion-dollar energy, healthcare, and tax legislation – provides $80 billion to the IRS and has some people worrying about new IRS agents and audits.President
Read MoreThe Internal Revenue Service and its partners are cautioning tax professionals to beware of the latest schemes showing up as ID theft scams to steal taxpayer information through phishing emails.The IRS
Read MoreThe Internal Revenue Service admitted that some married couples received erroneous or incorrect balance due notices for their 2021 tax returns.The IRS added that no immediate response to the notice or
Read MoreIf your bonus doesn't have the proper withholdings taken out up front, it may create taxes due when you file your tax return.This has been an ongoing issue for people who are paid bonuses during the tax
Read MoreTax law has an exception for unconventional “homeowners”. If you are able to “itemize” your deductions, you can deduct the mortgage interest payments even when the deed to the house and the mortgage
Read MoreIf you’re self-employed or a freelancer, you are likely paid as an independent contractor rather than as an employee. And paying taxes as an independent contractor is different from paying employee taxes.Many
Read MoreThe Internal Revenue Service has investigated nearly 1,700 cases of unauthorized access of taxpayer data by its own employees in the past decade, and over one-fourth of them turned out to be violations
Read More