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 >
The agency said 1,600 millionaires and 75 large business partnerships owe hundreds of millions of dollars in past due taxes. 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 >
That sum covered a settlement that called for Rod’s Pizza to pay the IRS $600,558 for back taxes for 2014-17. 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 >
One reason for the optimism is the infusion of billions from the Democratic-powered legislation signed into law this summer. 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 >
Some items that were indexed for inflation in the past will remain unchanged, such as the personal exemption, which remains at zero. 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 famed Hot Springs restaurant is being sued by the IRS for more than $586,000 in back taxes. read more >
It's something lawmakers and advocates have been seeking for years. read more >
Incentives for buying EVs, renewable energy production and domestic manufacturing look particularly good for Arkansas businesses. read more >
Authorities say he played a role in a scheme to defraud the agency of $11.5 million. read more >
The government said in a lawsuit filed last week that the restaurant owes more than a half-million dollars in taxes. read more >
Did you know the business meals deduction is up from 50% to 100% this year if the food and beverages are from a restaurant? read more >
Avoiding a paper tax return will be more than important than ever this year to avert processing delays. 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 >
