TAX NEWS
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- The American Institute of CPAs (AICPA) has collaborated with former IRS commissioner Danny Werfel to establish a cross-sector initiative aimed at fostering practical and responsible deployment of AI …
- The Internal Revenue Service attracted nearly 13,000 attendees to its Nationwide Tax Forums, which wrapped up last week in San Diego.
- The Internal Revenue Service is warning taxpayers, businesses, tribal communities and tax professionals about promoters selling supposed federal tax credits that the agency says don’t exist. The …
- A new scam offering a fake tax credit is making the rounds, the Internal Revenue Service warned. Promoters are offering "Tribal Tax Credits" that do not exist under federal law, the IRS said in a …
- A foreign‑gift penalty case reveals how IRS and DOJ can collide, exposing taxpayers even after a refund. The Fuentes dispute highlights a deep flaw in tax administration.
- Taxpayers may have to state whether they’re legally in the US if a draft of a common annual tax form floated by the IRS gets adopted for the next filing season.
- A routine checkbox on a Roth conversion form quietly triggered a tax penalty on money she never touched, never spent, and never intended to withdraw. Most savers checking that same box have no idea …
- Overpaying taxes through the year can bring an unwanted refund, but underpaying them could bring penalties.
- Promoters may also urge taxpayers who previously claimed these fake credits to challenge the IRS during an audit. A federal tax return claiming a nonexistent Tribal Tax Credit contains a false claim, …
- IRS interest on an unpaid balance is pegged to the federal short-term rate and reset every quarter. When the Fed moves, …