IRS
IRS Gives Taxpayers New Faxing Option to Request Relief on Late International Forms
The IRS says this electronic option removes a step in the paper process, which saves time and eases the burden on international taxpayers.
According to the IRS, You Might Be Dead
A new TIGTA report says the IRS placed “deceased locks” on the accounts of over 90,000 taxpayers who were very much alive.
Four Income Tax Breaks for New Parents
You just welcomed a new bundle of joy into the world. But once the euphoria has worn off, you’ll start to realize—if you haven’t already—that kids are expensive.
Trust In Irrevocable Life Insurance Trusts
Many limitations have been placed on traditional tax shelters over time, but the benefits of “irrevocable life insurance trusts” (ILITs) remain intact.
AI Tax Tech That Sniffs Out Tax Evasion Gets $12.5M in Funding
The system is currently used by major tax agencies around the world, including the Internal Revenue Service's Criminal Investigation Division and multiple states' tax authorities in the U.S.
IRS Warns Employers About Abusive ESOP Schemes
The IRS has concerns that employee stock ownership plans are being used by some wealthy taxpayers as a tax avoidance tool.
Tax Pointers on Mortgage Points
Points paid on a new mortgage are fully deductible if you meet certain tax law requirements. Notably, the acquisition debt must be secured by your principal residence and ...
IRS Getting Serious About Prosecuting ERC Fraud
The Department of Justice recently arrested a New Jersey tax preparer for allegedly seeking more than $124 million from the IRS.