The IRS says the new "Simple Notice Initiative" builds on a previous effort to improve paperless processing, making it easier for taxpayers to submit documents online. The 2024 tax filing season ...

The IRS is also exploring the option for taxpayers to file certain tax returns directly with the IRS online. And the plan expects that taxpayers will have access to new status-tracking tools by ...

The U.S. Internal Revenue Service is using billions of dollars in new funding to launch a new strategic operating plan to transform and improve is tax services over the next ten years.

The IRS says filings for large pass-through businesses used for the type of tax avoidance in the guidance increased 70% from 174,100 in 2010 to 297,400 in 2019.

IRS refund delays and a new system giving ICE access to tax data raise privacy, legal, and ethical questions about how ...

Americans saving for retirement will benefit from increased contribution limits for their 401(k) accounts in 2025, following a decision by the IRS. However, these adjustments come alongside the ...

The IRS failure-to-pay penalty is 0.5% of a client’s unpaid taxes for each month or part of a month that the tax remains unpaid, up to 25% of the tax due; the current IRS interest rate is 7%.

IRS plans another major change, raising alarm bells According to a new report from AP News, the IRS is contemplating cutting half its workforce through layoffs, incentivized buyouts, and attrition ...

Millions of Americans are waiting for updates on a $1,390 stimulus payout that's expected to come out next month as part of a federal relief plan geared toward low and middle-income houseolds.

Employees can contribute more pre-tax dollars next year to their retirement savings accounts, including 401(k) and 403(b) plans, according to an IRS announcement made on November 1. Your eligible ...

The student loan forgiveness tax break ends Dec. 31, 2025, meaning forgiven debt may soon be taxable again. Borrowers on ...