Income taxes

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.

The National Treasury Employees Union, whose members include Internal Revenue Service agents and revenue officers, elected Doreen Greenwald, a longtime federal employee and local union leader as the next national president.

If you have clients with businesses in multiple states, product or service sales in different states, or employees in other states, they need to know a thing or two about nexus.

Despite repeated encouragement by his accountant, Biden never signed or submitted his returns.

The Supreme Court will hear Moore v. U.S., a case involving taxation of unrealized income that experts suggest could have major ramifications.

The service is stopping most unannounced visits to taxpayers' residences and businesses after a rising number of threats has put its employees' safety at risk.

California may have some of the highest personal income taxes in the country, but it's one of the few states that doesn't tax lottery wins.

The former governor said he would keep the cap if elected president, declining to roll back a policy that has become a flashpoint for taxpayers in his own state of New Jersey.

The agency is also planning in-person visits to help taxpayers in underserved areas.

The differing fortunes highlight the growing divisions between the largest Democrat- and Republican-led states as they compete for businesses and people to relocate.

The service is asking approximately 1.5 million people to claim their refunds for tax year 2019 by the July 17 deadline.