IRS

IRS Targets Wealthy Taxpayers in Loophole Crackdown, Aims to Raise $50 Billion

By closing a significant tax loophole for affluent taxpayers, the IRS may bring in more than $50 billion in revenue over the next ten years. stated on Monday the Treasury Department.

IRS Permanently Extends Free Filing Option, Encourages State Collaboration

The IRS said on Thursday that it will extend its trial of a free electronic tax return filing system to all 50 states as well as the District of Columbia, requesting that they assist taxpayers in completing their forms through the program by 2025.

IRS Data Breach: Files of At Least 50,000 Americans Stolen

A victim of the heist wrote a commentary for the Wall Street Journal today, claiming that the IRS hacker took the tax files of between 50,000 and 70,000 individuals, making it the greatest theft of private taxpayer information in American history.

IRS Issues Larger Tax Refunds - Don't Miss Out on These Smart Spending Tips

IRS Issues Larger Tax Refunds With 2.2% Increase: Here Are Smart Spending Tips to Use Your Additional $75

According to the most current IRS data, the typical taxpayer receives a $2,852 refund, which is $75 higher than the previous year. So, what should you do with that cash?

Is the IRS Watching You? Red Flags That Could Trigger a Tax Audit

When the IRS decides to examine a taxpayer's accounts and financial data to make sure they have complied with all tax regulations and declared all necessary income, this is known as an audit.

Don't Sweat the IRS: Here's How Likely You Are to Get Audited

In addition to helping the IRS recover money that tax evaders owe the federal government, experts say audits also play a significant role in deterring fraud.

Unclaimed $1 Billion in Tax Refunds Expiring Soon! Is Yours One of Them?

Taxpayers may be leaving more than $1 billion on the table, the IRS is cautioning them.

How Often Does the IRS Audit? What You Need to Know.

How Often Does the IRS Audit? If you've ever found yourself breaking into a cold sweat at the mere mention of the word "audit," you're definitely not alone. But before we dive into the nitty-gritty of IRS love letters (also known as audit notifications), let me share a little story.

IRS Cracks Down on Unfiled High-Income Tax Returns

The Internal Revenue Service said on Thursday that it will reactivate a non-filer enforcement program that had been dormant for years due to previous budget cuts, and it will take tough measures against high-income earners who have failed to file tax returns in 125,000 cases since 2017.

IRS Cracks Down on Unpaid Taxes with New Funding

With financing under the Inflation Reduction Act (IRA), the IRS stated it is ready to collect hundreds of billions of dollars more in tax revenue by pursuing past-due and unpaid taxes, substantially more than was originally projected.

IRS Delivers $1 Billion Penalty Gift, Check Your Eligibility Now!

For the tax years 2020 and 2021, the IRS is waiving penalty penalties for taxpayers who failed to pay back taxes totaling less than $100,000 annually. The IRS said on Tuesday that the relief plan will waive $1 billion in fees for tax returns submitted for those years.

IRS Extends Reprieve for PayPal and Venmo Users, Delaying $600 Reporting Threshold

On Tuesday, the agency said that it is once more postponing the enforcement of a 2021 regulation that mandates that payment companies like Venmo, Paypal, or Cash App issue 1099-K tax forms to anyone who received more than $600 in the current tax year.

Step-by-Step Guide on Getting Your Stimulus Check (2020 Return or 2nd Stimulus)

It's still possible for you to claim the money you are entitled to, as long as you file your 2020 tax return through the IRS Recovery Rebate Credit.

Stimulus Check: Here's When It Can- and Can’t- Be Taken From You

Check out these groups who can and cannot take away your stimulus check.

Tax refund to take longer due to IRS tighter security against fraud

Taxpayers who would file their tax return beginning January 19 will have to wait until March 1 to get their tax refund due to the tighter security the IRS will implement to prevent tax frauds.

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Protecting Your Practice: The Importance of Professional Liability Insurance for Professionals

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As Copper M&A Wars Escalate, Solaris Resources' Warintza Project Stands Out

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Amin Makhlouf: Redefining Real Estate Transactions with Digital Innovation

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Is Mr. Black Being Silenced by X in His Mission to Bring About the Messianic Age?

The enigmatic artist Mr. Black, known for his cryptic street art and ambitious 21,000-piece ordinal collection on the Bitcoin blockchain, claims that the Messianic Age will be revealed once the collection is fully minted. However, recent developments suggest that Mr. Black might be facing censorship on the social media platform X, formerly known as Twitter.

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