TAX NEWS
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- The officials in charge of carrying out these procedures are the Revenue Officers, employees of the Internal Revenue Service (IRS).
- Internal Revenue Service recently announced tax relief is available for people and businesses impacted by the major magnitude-6.0 earthquake in May on the west side of the Big Island. The announcement …
- The adjustment could provide financial relief for taxpayers who find that more of their income is taxed at lower rates, a Bloomberg analysis suggests.
- If institutions lose their tax-exempt status over diversity efforts, they could face a loss of gifts and higher borrowing costs among other hits, analysts said.
- A retiree executed a Roth conversion flawlessly, filed on time, and paid every dollar owed. The IRS still charged her a penalty covering nearly the entire year, and the reason had nothing to do with …
- Washington's timing on biofuels says more than the notice itself does.
- Quick ReadThe IRS quietly added a Tax Compliance Report to online accounts, certifying whether you filed and paid on time as an authenticated document employers and lenders can request.A TCR may be …
- The Trump administration unveiled a plan Thursday to cancel the tax-exempt status of universities that is says give preferential treatment to minority students.
- The IRS slashed its auditing staff last year — but the move may have backfired as tax collections from enforcement efforts plummeted, an Inspector General report shows.
- The IRS does not offer one “tax forgiveness” program — relief comes through options like Offer in Compromise, penalty abatement and hardship status. Qualifying depends on your financial situation, …