Income Tax

Contingency plan calls for the IRS to furlough two-thirds of its workforce and press pause on most core tax administration functions.

The letter goes on to express concern that an October shutdown of the government will likely impact the timely processing of extended 2022 tax returns due by Oct 16, 2023.

The House panel voted along party lines to disclose additional documents related to the probe into the president's son's taxes.

Jack Fisher and James Sinnott designed, marketed and sold to high-income clients abusive syndicated conservation easement tax shelters based on fraudulently inflated charitable contribution tax deductions, promising them deductions 4.5 times the amount the taxpayer clients paid.

In an unexpected portion of his decision, the judge essentially stripped Trump of the ability to run his businesses in New York by canceling his certificates and any controlled by his adult sons.

Chatbots will be used to help answer basic taxpayer questions about three notices in the CP series, the IRS said on Tuesday.

For the bottom 80% of households by income, bank deposits and other liquid assets were lower in June this year than they were in March 2020.

Taxpayers can use the special per diem rates to substantiate the amount of expenses for lodging, meals, and incidental expenses.