IRS tells taxpayers in states like California to wait to file taxes

The Internal Revenue Service is cautioning taxpayers in states that offered special tax refunds or payments to wait to file their income tax returns until it’s clear whether the money…

NATP endorses Werfel as IRS commissioner

The Senate Finance Committee held a confirmation hearing Wednesday for Daniel Werfel, who has been nominated as the next Internal Revenue Service commissioner. Both Democrats and Republicans appeared likely to…

IRS pilots new phase in corporate tax compliance program

The Internal Revenue Service is making some changes in its Compliance Assurance Process program, testing out a new option to address complaints from participants. The IRS said Monday that it…

IRS lets taxpayers and tax pros upload documents to respond to notices

The Internal Revenue Service introduced a new option Thursday allowing taxpayers and tax professionals who receive nine types of notices asking them to send information to the IRS with the…

IRS, Treasury offer guidance on corporate AMT for insurers

The Internal Revenue Service and the Treasury released a notice Friday containing interim guidance for insurance companies ahead of issuing upcoming proposed regulations on the corporate alternative minimum tax of…

IRS says special state payments and tax rebates don’t need to be reported for 2022

The Internal Revenue Service provided details late Friday on a question that has perplexed tax professionals and held up tax filings this past week, clarifying the federal tax status involving…

Weather victims in Georgia, Alabama get tax relief from IRS

Storm victims in parts of Georgia and Alabama now have until May 15 this year to file various federal individual and business tax returns and make tax payments. The IRS…

IRS more likely to audit Black taxpayers

The Internal Revenue Service audits Black taxpayers at 2.9 to 4.7 times the rate of non-Black taxpayers, mainly due to automated algorithms that flag discrepancies in claims for tax credits,…

House Republicans plan vote to abolish IRS, replace income tax with consumption tax

The new speaker of the House, Kevin McCarthy, R-California, agreed as part of a deal with conservatives in the Freedom Caucus to win the speakership to allow a vote on…

IRS opens 2023 tax filing season

The Internal Revenue Service began the 2023 tax filing season Monday, pledging to improve taxpayer service and asking taxpayers to file electronically with direct deposit to hasten their refunds and…