Income Tax
Latest News
IRS ‘Get Ready’ Campaign Helps Taxpayers Prepare for Filing Season
Trump Nominates Hedge Fund Exec Bessent to Lead Treasury Department
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Professionals on the Move – Nov. 2024
Bloomberg Tax AI Lab Enables AI Functions for Bloomberg Tax Research
The new Bloomberg Tax AI Lab offers customers the option of testing new AI-driven tools, beginning with an enhanced search experience using AI functionality.
Taxpayer Interest in IRS’s Direct File Program May Have Been Exaggerated
Their willingness to use the Direct File program may be overstated because of the survey the IRS used to gauge their interest, TIGTA says.
IRS to Try Out Its Free E-Filing Tax Return Program in 13 States Next Year
The IRS on Tuesday unveiled more details about Direct File, the agency’s free online tax filing program that is debuting in 2024.
American Living in Monaco Pleads Guilty to $5.1 Million IRS Tax Evasion
Schechter never disclosed the income from the sale of the Monaco apartment or the securities bought from sale proceeds to his tax return preparer.
IRS Says Tax Gap Grew to $688 Billion in Tax Year 2021
The new estimate reflects a rise of more than $192 billion from the prior estimates for tax years 2014 to 2016.
Oct. 16, 2023, is Deadline for Taxpayers with an Extension
For 2023, however, many taxpayers who had received an extension to file, also later faced various forms of natural disasters for which the IRS has granted additional time to file.
Former IRS Contractor Pleads Guilty to Leak of Trump Taxes
Federal prosecutors charged Charles Littlejohn last month, and with his guilty plea, now faces up to five years in prison for the crime.
Former CFO of Russian Natural Gas Firm Gets 7 Years in U.S. Prison for Tax Crimes
Gyetvay was convicted of concealing his ownership and control over substantial offshore assets and did not file tax returns or pay taxes on millions of dollars of income.