IRS
Get the latest news and insights on the Internal Revenue Services' tax laws, enforcement actions and related activities.
IRS Has a Tough Letter for Micro Captive Owners
By Allison BellOfficials say affected taxpayers are on the hook for withholding failures as well as bad deductions.
August 30, 2021
How to Get Tax Breaks for Caring for an Aging Family MemberThose who care for a family member who qualifies as a dependent may be entitled to deduct medical expenses.
August 26, 2021
Debate: Should Mega Roth IRA Balances Be Capped?Two professors debate whether the IRS should be able to tax any amount of tax-preferred IRAs exceeding an established limit.
August 18, 2021
U.S. Households Paying No Income Tax Hit 61% of Total Last YearThe number of households owing nothing came in at 106.8 million, up from 75.9 million in 2019, the Urban-Brookings Tax Policy Center found.
July 30, 2021
Trump's Tax Returns Can Be Released to Congress, DOJ Tells IRSThat decision reverses a 2019 opinion that the Treasury Department shouldn't release the returns.
July 13, 2021
2021 Advance Child Tax Credit Payments: Should Your Client Opt Out?For many Americans, the payments will provide a valuable cash infusion. For others, they could create a tax headache later.
July 01, 2021
2021 Tax Filing Season Plagued With Unanswered Calls, Delayed RefundsThe Taxpayer Advocate Service outlines the problems the IRS faced because of the pandemic and the added responsibility of making stimulus payments.
June 28, 2021
How Secure Act's 10-Year Rule Creates Tax Headaches for IRA HeirsPlanning for inherited IRAs and 401(k)s has become more complex than ever under the Secure Act.