The Tax Cuts and Jobs Act brought a reorganization to the IRS; the Inflation Reduction Act ... with the new agents… you may notice that audits may be taking a longer time, and you may notice ...
Instead, the IRS says the money is being invested in improved customer service following years of snarls during the pandemic, as well as to increase the number of audits on people with more than $ ...
And now there’s a surge in underpayment penalties for taxes.” However, Razi says the IRS isn’t singling people out for the penalty. “It’s computer generated,” he says. “There are ...
The IRS is working on plans to avoid increased audits on taxpayers making less than $400,000 — but certain areas can invite ...
IRS audits aren’t new and recent news is no exception. Due to an influx of funding from the Inflation Reduction Act (IRA), the federal tax agency has been cracking down on high-income and ...
To facilitate this, the IRS established a new team within its Large Business and International Division, focusing on audits and compliance for partnerships and similar entities, with more agents ...
The IRS is dealing with a couple of big issues involving TikTok. It turns out some IRS employees aren't complying with the government-wide ban on the Chinese-owned app on federal devices.
A colleague recently was audited by the IRS. Do you have any tips for preventing an audit on my tax return? The word “audit” ...
President Biden introduced a “potential marriage penalty” into the tax system when he ordered the IRS to conduct more audits of higher-income Americans, the agency’s inspector general said.
Recognizing this, in mid-August the IRS spearheaded the formation of the ... The aim: fight the surge of tax-related scams and schemes that have recently intensified. The coalition includes ...
Thus, an IRS Form 926 must be filed if: (i) a U.S. person (ii) transfers property to a foreign corporation (iii) in a transfer that qualifies under one of the tax-free corporate provisions.
BATON ROUGE, La. (BRPROUD) — The IRS is giving people and businesses in Louisiana more time to file taxes and make payments because of Hurricane Francine. The storm hit the coast on Wednesday, Sept.