IRS

The Internal Revenue Service today announced that interest rates will remain the same for the calendar quarter beginning Jan. 1, 2015. The rates will be: three (3) percent for overpayments (two (2) percent in the case of a corporation); three (3) percent for underpayments; five (5) percent for large corporate underpayments; and one-half (0.5) percent […]

The Internal Revenue Service (IRS) may have allowed approximately $167.7 million in questionable fuel tax credit claims between 2011 and 2013, according to a new study released publicly today by the Treasury Inspector General for Tax Administration (TIGTA

Once the Tax Court ruled against a taxpayer in a controversial interpretation of the “once-a-year” rollover rule for IRAs, the IRS was only too willing and eager to jump on the bandwagon. But at least it delayed enforcement of the ruling until January 1, 2015. Now, under new guidance just issued by the IRS, procrastinators […]

The Internal Revenue Service has issued new guidance to clarify the impact a 2014 individual retirement arrangement (IRA) rollover has on the one-per-year limit imposed by the Internal Revenue Code on tax-free rollovers between IRAs.

The Internal Revenue Service does not adequately document its risk-based decisions involving Information Technology security, according to a report released publicly today by the Treasury Inspector General for Tax Administration.

The agency's system of records designed to document wireless device inventory was not consistently updated as changes occurred, which resulted in almost 57 percent of inventory records being inaccurate.

Low- and moderate-income workers can take steps now to save for retirement and earn a special tax credit in 2014 and years ahead, according to the Internal Revenue Service.

The IRS is failing to provide personal identity numbers to all taxpayers who are the victims of tax-related identity theft, according to a report publicly released today by the Treasury Inspector General for Tax Administration ...