No Tax Hikes for Middle Class, Says Yellen
Despite Tax Cuts and Jobs Act (TCJA; PL 115-97) provisions that are set to expire, Treasury Secretary Janet Yellen told the House …
GAO Issues Latest Report on Financial Audit of IRS
The Government Accountability Office (GAO) released a report addressed to IRS Commissioner Danny Werfel which “is intended for IRS management’s …
Corporate Transparency Act Case Wrongly Decided, Say Lawmakers
Five lawmakers have submitted an amicus brief arguing that an Alabama federal district court wrongly found the Corporate Transparency Act (CTA) — …
Tax Pros: Data Readiness, Protection Critical to AI Strategy
Tax practices seeking to begin developing an artificial intelligence (AI) strategy should understand their end goals and limitations from the …
Direct File Gets High Marks From Pilot Participants
An independent survey conducted during and immediately after the 2023 tax filing season to gauge public opinion on the IRS-run …
House Republicans Ask IRS to Look Into Tax-Exempt Orgs
House Ways and Means Committee Republicans have asked the IRS for information on its practices and procedures regarding tax-exempt organizations, …
House Republicans Form Tax Teams to Address 2025 Cliff
Newly formed Republican “tax teams” will study expiring Tax Cuts and Jobs Act (TCJA, PL 115-97) tax cuts, said House Ways and Means …
Werfel Notes ERC Process as Example of Digital Return Filing/Processing Benefits
IRS Commissioner Daniel Werfel’s April 16 testimony before the Senate Finance Committee on the tax filing season and IRS budget illustrated …
IRS Updates Clean Vehicle Credit FAQs
The IRS has revised its FAQs that provide guidance to taxpayers seeking to claim tax credits for new or previously …
IRS Releases Digital Asset Draft Form
The IRS on April 19 made available an early release draft of the information return for reporting digital asset transactions …