Income taxes

The Internal Revenue Service will be hosting a Tax Professional Awareness Week starting Monday, Jan. 8.

Fifteen states are reducing either individual or corporate income taxes this year, with some states trimming both individual and corporate taxes, among 34 states starting the year with significant tax changes.

The double taxation treaty between the U.S. and Hungary has been terminated as of Monday.

The IRS-sponsored program relies on hundreds of dedicated accounting volunteers to ensure filers receive the crucial and necessary tax refunds they depend upon and ultimately help people fight poverty and food insecurity.

The Financial Accounting Standards Board issued an accounting standards update aimed at improving income tax disclosures from companies.

This will be the first reorganization for the Internal Revenue Service in over 20 years and reflects the new transformation goals underway at the agency.

The case coming before the Supreme Court stems from a 2017 tax law provision that aimed to tax earnings held overseas by big multinational companies.

A group of Senate Democrats and independents introduced legislation Thursday to eliminate loopholes and tax breaks for billionaires.

The ultra-wealthy are using DAFs and private foundations to avoid taxes and exert influence, at the expense of ordinary taxpayers.

The standard-setter has appointed its technical director as its newest member, succeeding vice chair James Kroeker.

Commissioner Danny Werfel and Taxpayer Advocate Erin Collins discussed the enhancements the IRS has been making thanks to the additional billions of dollars of funding.

The service announced its annual inflation adjustments, including increases in the standard deduction and changes in tax brackets.

The service's development of its newly introduced business tax accounts and recent improvements in its tax pro accounts could be jeopardized if funding is cut.

The service is cautioning taxpayers against claiming exaggerated deductions for purported donations of artwork, as it sees a rise in such schemes.

The service is reducing the annual cost of a Preparer Tax Identification Number after a court ruled that the charge was too high.

Your employees' well-being; statutory residency; new blog in town; and other highlights from our favorite tax bloggers.

Close to a thousand taxpayers who earn over $1 million a year failed to file tax returns over multiple recent years, potentially owing $34 billion in taxes, according to IRS data.

The Financial Accounting Standards Board voted to require companies to tell the public more about the taxes they pay, starting as early as 2025.

The Internal Revenue Service issued guidance on how taxpayers should report the special tax payments, refunds and rebates they received from states in recent years as a form of relief during the pandemic.

Whitman Transition Advisors made a strategic investment of an undisclosed amount in Tax Titans, a veteran-owned company that operates an online marketplace connecting small businesses and qualified tax professionals.