TAX NEWS
- Misleading posts about credits like the fuel tax credit are landing taxpayers in trouble — with fines up to $5,000 for frivolous returns.
- A letter from the Association of International Certified Professional Accountants addresses guidance and recommendations on the Pillar Two framework co-existing with U.S. tax rules for U.S. multinational enterprises in a side-by-side system to the OECD.
- The list has a variety of occupations that customarily receive tips, including bartenders, dancers, and digital creators.
- The revenue procedure advises taxpayers how to make various elections, file amended returns, and change accounting methods as provided under Section 70302 of the new law.
- The IRS said previously that it will not release a new form for 2025, even though the temporary H.R. 1 provisions are effective this year, but it will provide transition relief.
- The IRS has asked some employees who accepted deferred resignation offers if they want to stay on the job.
- Former IRS Commissioner Danny Werfel says the cuts, combined with the need to reengineer systems for the OBBBA, will make it difficult for the IRS to succeed at improving technology.
- The report by the Treasury Inspector General for Tax Administration called on the IRS to include more phone lines and to cover the entire fiscal year when reporting on its level of service and wait times.
- The IRS issued proposed regulations that would modify partnerships’ reporting obligations for Part IV of Form 8308 with respect to sales or exchanges of certain interests in partnerships owning inventory or unrealized receivables.
- National Taxpayer Advocate Erin Collins wrote Tuesday in her blog that the IRS reminder of the language in the Internal Revenue Manual is a “meaningful step toward transparency."
- Waitstaff, bartenders, salon workers, and other tipped employees could face greater IRS scrutiny under new compliance initiatives.
- WASHINGTON — The IRS is warning taxpayers about false information being spread online that is causing filers to claim credits that aren’t available to them. The agency says an ongoing surge of …
- Ready to mail your third-quarter estimated tax payment? Mailing addresses for some Forms 1040-ES have changed.
- IRS enforcement priorities shift toward questionable write-offs, putting small business owners and self-employed taxpayers on notice in 2025.
- President Donald Trump has done an admirable job at defanging the IRS, which was converted into a weaponized agency targeting Democrats' …
- President Donald Trump has done an admirable job at defanging the IRS, which was converted into a weaponized agency targeting …
- The IRS warns of increasing social media tax scams exploiting credits, urging taxpayers to stay vigilant and avoid fraud.
- The IRS is rolling out significant tax form changes impacting seniors over 65. These updates aim to ease the financial burden on this demographic by introducing new deduction opportunities.
- In this episode of Tax Notes Talk, former IRS Chief Privacy Officer Kathleen Walters discusses the agency’s data sharing agreement with the Department of Homeland Security, her decision to step down, …
- The Trump administration is quietly dismantling efforts by the IRS to shut down a slew of aggressive tax shelters used by America’s biggest multinational companies and wealthiest people.