The IRS has announced the special per diem rates for substantiating certain business expenses taxpayers incur when traveling away from home in 2014 and 2015. The new per diem rates go into effect Oct. 1.
More than 1 million tax payments have been processed, and more than $1.7 billion have been received, so far in 2014 through IRS Direct Pay, a free online payment system that debuted earlier this year, the tax agency announced on Wednesday.
The highway use tax applies to highway motor vehicles with a taxable gross weight of 55,000 pounds or more, which generally includes trucks, truck tractors, and buses. The Labor Day holiday pushed the due date for Form 2290 back two days.
Representative Diane Black (R-TN) blasted the IRS on Thursday after a new watchdog report found that the agency had not conducted background checks on some contractors who had access to sensitive taxpayer data.
Newly revised versions of Publication 1, "Your Rights as a Taxpayer," are available on the IRS website in English, Spanish, Chinese, Korean, Russian, and Vietnamese, the nation's tax agency said on Tuesday.
More than 64,200 tax-exempt organizations owed nearly $875 million in back taxes to the federal government, 69 percent of which were payroll taxes and related penalties and interest, as of June 16, 2012, according to a TIGTA report released on Wednesday.
A new TIGTA report found that in nearly all instances, the nation's tax agency correctly provided income and family size information to health insurance exchanges to determine the eligibility of individuals for health insurance under the Affordable Care Act.
In an interview last week with Tax Analysts, IRS Commissioner John Koskinen said critics of a new form intended to speed small charities through the application process for tax-exempt status are “wrong for several reasons.”
The IRS isn't always perfect in its calculations of underpayment interest and refund interest. Two BDO USA professionals, Cathy Stopyra and Todd Simmens, provide advice so you don't walk away from overpayments that are rightfully owed to your company.
In her annual midyear report to Congress on Wednesday, National Taxpayer Advocate Nina Olson said she wants the IRS to develop a competency exam for preparers by 2016 as part of the agency's Annual Filing Season Program.
The federal lawsuit, filed on Tuesday, said the IRS’s new Annual Filing Season Program is “unlawful” and an attempt to bypass two courts’ rulings that prevent the agency from mandating continuing education and competency testing of unlicensed tax return preparers.
According to court documents, Rene R. Lopez of Van Nuys, California, prepared and filed at least 85 fraudulent income tax returns with the IRS, claiming $130,797 in false income tax refunds, from 1998 through 2001.
Starting in January 2015, the IRS will limit the number of refunds that are electronically deposited into a single financial account or pre-paid debit card to three, as part of the agency's effort to crack down on fraud and identity theft.
Summer wedding season is underway, but have you considered some of the tax issues that go along with tying the knot? If not, the IRS has provided the following five basic tips that can help keep those issues to a minimum.
The US Treasury Department said on July 1, the day FATCA went into effect, that nearly 100 jurisdictions and more than 80,000 financial institutions worldwide now have agreements with the United States to fight overseas tax evasion.