IRS
Get the latest news and insights on the Internal Revenue Services' tax laws, enforcement actions and related activities.
U.S. IRS Audited Record Millionaires in Fiscal ’11 (Bloomberg)
By Staff Writer2011 marked the third consecutive year that the IRS increased its audit rate on individual tax returns showing income of more than $1 million.
January 03, 2012
IRS Posts W-2 Health Reporting GuidanceEmployers need not include voluntary, employee-paid hospital indemnity and critical illness premiums in the total.
January 03, 2012
IRS Posts W-2 Health Reporting GuidanceEmployers need not include voluntary, employee-paid hospital indemnity and critical illness premiums in the total.
December 28, 2011
IRS Shows Mercy and Allows Stretch IRAThe IRS recently took the unusual step of permitting a taxpayer to undo a lump-sum IRA distribution and avoid taxes and penalties.
December 27, 2011
Tax-Exempt Organizations Get Deadline ExtensionSome tax-exempt organizations got an extra present in their Christmas stockings, with the news from the IRS that they get extra time to file their annual returns in 2012.
December 20, 2011
5 Online Tools to Facilitate Charitable GivingMany donors, especially those who are planning large gifts, want to know how to make their gifts more effective or to fill gaps in funding. Several online providers can meet these needs.
December 20, 2011
IRS Greenlights ILIT Replacement PoliciesThe IRS has held that a grantors power to substitute a policy in an ILIT for another policy of equal value will not result in estate inclusion
December 19, 2011
Year-End Giving Tips, Compliments of the IRSAs individuals and businesses rush to make charitable contributions at this busy time of year, the IRS has issued several tips as reminders of tax law provisions that have taken effect in recent years.