Income Tax

Koskinen took over the reins at the IRS in December 2013. Despite the charges levied against him, he has previously said that he intends to stay on until the end of his four-year term.

The IRS says that, next tax season, processing of early-filed income tax returns with the Earned Income Tax Credit (EITC) or Additional Child Tax Credit (ACTC) will be delayed. Specifically, the agency will hold tax refunds until at least Feb 15.

Business tax non-compliance is a problem that plagues states across the U.S., but could be improved if states were able to more easily share data, according to new research by the Governing Institute. The survey of tax and revenue officials across 29 ...

Eighty-eight percent surveyed believe that payments fraud will become a bigger threat to the financial services sector over the next two to three years. Despite this anticipated increase, just one in 10 attendees felt that an effective ...

Can you deduct the cost of going back to a school to get ahead in your career? It depends. If you pass a definitive tax law test, certain expenses are deductible on your personal tax return, albeit as miscellaneous expenses subject to an annual limit.

pproximately 1.2 million taxpayers may have used hobby losses to reduce their taxable incomes to potentially avoid paying $2.8 billion in taxes in 2005. The overall objective of the latest review was to determine whether the IRS is taking sufficient ...

The yearly firm-wide community service event works with nonprofits to set up a variety of day-long philanthropic projects that serve the communities where employees live and work.

On its tax returns, the company deducted about $4 million in compensation and $7.3 million paid to the sons in 2003 and 2004, respectively. The IRS audited the business and partially disallowed the deductions for compensation.