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WASHINGTON, D.C. — The Internal Revenue Service Criminal Investigation (IRS-CI) has unveiled its Fiscal Year 2024 (FY24) Annual Report, detailing key achievements in tackling financial crimes domestically and abroad. Covering …
IRS-CI Releases FY24 Annual Report Highlighting Landmark Investigations and Global Impact Read More
WASHINGTON, D.C. — The Internal Revenue Service (IRS) has issued a formal warning to taxpayers regarding fraudulent tax schemes involving so-called “Charitable LLCs.” Widely marketed to high-income individuals, these abusive transactions …
IRS Issues Warning on Fraudulent “Charitable LLC” Tax Schemes Read More
WASHINGTON, D.C. — The Internal Revenue Service (IRS) has announced the allocation of $53 million in grants to expand free tax preparation services under the Tax Counseling for the Elderly (TCE) …
IRS Awards $53 Million in Grants to Support Free Tax Filing Assistance Read More
WASHINGTON, D.C. — The Internal Revenue Service (IRS) issued Notice 2024-85 this week, granting transitional relief for third-party settlement organizations (TPSOs) regarding transaction reporting and backup withholding requirements. This guidance sets …
IRS Provides Transitional Relief for Third-Party Settlement Organizations on Reporting Thresholds Read More
WASHINGTON, D.C. — The Internal Revenue Service (IRS) is emphasizing the importance of retirement savings for low- and moderate-income taxpayers by reminding them of the benefits of the Saver’s Credit. Designed …
Unlock Tax Savings While Building Your Future: Don’t Miss the Saver’s Credit Benefits Read More
WASHINGTON, D.C. — The Internal Revenue Service (IRS) has announced a significant policy change designed to streamline the process for taxpayers filing returns with duplicate dependents while enhancing protections against identity …
IRS Unveils New Policy to Fast-Track Tax Refunds and Combat Identity Theft with IP PIN Requirement Read More
WASHINGTON, D.C. — The Internal Revenue Service Advisory Council (IRSAC), a key panel of experts tasked with advising the IRS on critical tax administration matters, has released its 2024 Public Report. …
IRS Advisory Council 2024 Report Offers Key Recommendations for Tax Administration Overhaul Read More
As we enter the annual season of giving, you might be thinking of charities you wish to support. But you also might be wondering how to gain some tax benefits …
Consider Tax-Smart Charitable Gifts Read More WASHINGTON, D.C. — As open enrollment season commences, the Internal Revenue Service (IRS) is urging taxpayers to take full advantage of flexible spending arrangements (FSAs), highlighting the significant tax benefits and …
IRS Urges Taxpayers to Maximize Savings with Flexible Spending Arrangements During Open Enrollment Read More WASHINGTON, D.C. — The Internal Revenue Service (IRS) has unveiled its Fiscal Year 2024 Financial Report, showcasing a year marked by substantial revenue collections, commendable financial management, and overcoming longstanding challenges. …
IRS Reports Robust Financial Year Amid Significant Achievements and Challenges Read More