IRS
Latest News
Zone & Co Launches ZoneBilling AI Assistant
IRS Extends Tax Deadlines Until May For Helene Victims
Avantax Acquires SEP Financial Services
Sovos Launches Indirect Tax Suite for SAP, Enhances Clean Core Readiness
Inflation adjustment raises IRS-allowed Health Savings Plan account limits
The IRS has released the 2014 inflation-adjusted amounts for health savings accounts (HSAs) in Rev. Proc. 2013-25.
IRS missing more offshore taxes than it’s collecting
In a recently released report to Congress, the U.S. Government Accountability Office (GAO) says that while the IRS has collected billions of dollars from offshore tax evasion, it may be missing even more.
IRS Digging into Taxpayer Holdings in Caribbean Banks
A federal court in San Francisco has granted an order authorizing the U.S. Internal Revenue Service (IRS) to serve a summons seeking information about US taxpayers who may hold offshore accounts with FirstCaribbean International Bank (FCIB), a subsidiary of Canadian Imperial Bank of Commerce.
IRS report on tax-exempt colleges cites ‘significant compliance issues’
The Internal Revenue Service today released its final report summarizing audit results from the IRS’ colleges and universities study, which began in 2008. This final report describes the agency’s multi-year project on a major segment of tax-exempt organizations.
IRS Improving at Collecting Taxes, but Oversight Agency Says Changes are Needed to Ensure Balance and Effectiveness
The most recent estimate of the Tax Gap is $385 billion, and the the Internal Revenue Service needs to do more to collect those funds, according to a new report. The Tax Gap is the amount of taxes the agency estimates is owed, but is not reported or paid by U.S. taxpayers each year.
TIGTA Finds Improvements Needed to Performance Measures for IRS Collection Program
The Treasury Inspector General for Tax Administration released a new report that showed several favorable trends among the IRS’s performance measures for its Collection Program. The performance measures help IRS managers make decision about how to fund and allocate resources to collect the estimated $360 billion from taxpayers who owe but have not paid taxes […]
Miss the April 15 tax deadline? Here’s what to do
O.K., it's now after April 15. If you haven't filed your income tax returns or an extension, it's time for damage control.
Report: IRS not doing well at recognizing and investigating signs of tax fraud
Because the IRS does not always recognize and properly investigate possible tax fraud, it may be missing opportunities to further promote voluntary compliance and enhance revenue.