IRS

During the announcement of his candidacy for president last month, Cruz kicked off another controversy by advocating the elimination of the IRS. He said that the U.S. could impose a “simple flat tax that lets every American fill out his or her taxes ...

For these procrastinators, the rush is on. The IRS is offering reminders for these last-minute income tax filers.

Here are 10 important things the American Institute of CPAs recommends that taxpayers know about getting their federal tax return to the Internal Revenue Service (IRS) by the Wednesday, April 15 filing deadline and about filing for an extension.

The American Institute of Certified Public Accountants has sent a letter to the Senate Finance Committee Tax Reform Working Group on Business Income Tax that makes suggestions about how to simplify business income tax.

The nation's largest society of professional accountants is telling Congress that tax reform isn't just something to think about, it's something needed soon.

Taxpayers still have time to decrease their 2014 taxes by contributing to an IRA. In most cases, doing so can help them qualify for a deduction or even a tax credit.

For taxpayers who haven’t yet filed their taxes, the IRS has this advice: don’t panic. Taxpayers who need more time to complete their tax return can request an automatic six-month extension.

The Internal Revenue Service is reminding taxpayers who receive requests from the IRS to verify their identities that the Identity Verification Service website, idverify.irs.gov, offers the fastest, easiest way to complete the task.