The Employee Retention Credit was designed help small businesses keep paying their employees during the height of the pandemic if they were fully or partly suspended from operating. read more >
On one side, civil society groups this week launched a coalition to promote the move toward a government-run free-file program. On the other, tax preparation firms like Intuit — the parent company of TurboTax — and H&R Block have been pouring millions into trying to stop the idea cold. read more >
If the collectives aren't tax-exempt, the donations they collect that are used to pay quarterbacks, point guards and pitchers may not be, either. read more >
Some improvements have been long expected, such as bringing more paper-based systems online and answering taxpayers' phone calls promptly. Others are more ambitious: continuing to explore ways to create a government-operated electronic free-file tax return system, for example. read more >
Last month, Chief U.S. District Judge Susan O. Hickey approved the settlement that called for Rod’s Pizza to pay the IRS $600,558 for back taxes. read more >
Financial data is already shared between the two governments on a case by case basis, but this arrangement should give taxing authorities automatic access to information about such investments, whether they're made as individuals or through companies and trusts, Economy Minister Sergio Massa said. read more >
The changes, among others announced by the IRS Friday, make it easier for retirement savers who use these types of tax-advantaged plans to set aside more of their income toward building their nest egg. read more >
Sam Shannon Weathers and his wife, Melissa Sue Weathers, agreed to pay the IRS for their unpaid federal tax bill for the years 2009-2014, as well as taxes tied to Shannon Weather's former company. read more >
The IRS has suspended a $7.25 million contract with the credit reporting company Equifax after members of Congress complained the tax agency had awarded a no-bid contract to a company that recently had a massive data beach. read more >