IRS
Two Found Guilty in $1.3 Billion Conservation Easement Scheme
Jack Fisher and James Sinnott designed, marketed and sold to high-income clients abusive syndicated conservation easement tax shelters based on fraudulently inflated charitable contribution tax deductions, promising them deductions 4.5 times the amount the taxpayer clients paid.
IRS Rolls Out New Chatbot Feature for Certain CP Notices
Chatbots will be used to help answer basic taxpayer questions about three notices in the CP series, the IRS said on Tuesday.
If the Government Shuts Down, How Will it Affect the IRS?
With a government shutdown looming, some wonder how IRS operations would be affected. Does the agency have a plan?
IRS Updates 2023-2024 Per Diem Rates for Business Travelers
Taxpayers can use the special per diem rates to substantiate the amount of expenses for lodging, meals, and incidental expenses.
IRS Gives Tax Relief to Those Affected by Hurricane Lee in Massachusetts and Maine
All individuals and business owners in these two states now have until Feb. 15, 2024, to file their returns and make tax payments.
IRS Promises Fewer Audits of EITC Claims
After years of auditing some taxpayers with lower incomes at higher rates, the commissioner of the IRS said that will change.
IRS Establishing New Unit to Crack Down on Tax Dodging by Pass-Throughs
Group within LB&I will be tasked with holding large partnerships and other pass-throughs accountable on tax compliance.
A Cautionary Tax Planning Tale: Timing and Formalities Are Critical
A business owner learned the hard way not to dawdle or cut corners when it comes to tax plans involving the sale of a business.