IRS

More families with higher incomes could claim the popular child tax credit under a bill that won approval Friday in the House. But in a dispute that divides Republicans and Democrats, millions of the poorest low-income families would still lose the credit in 2018, when enhancements championed by President Barack Obama are set to expire.

According to the IRS, a large part of the tax gap is caused by individuals under reporting their income tax by omitting taxable income or claiming erroneous or inflated deductions or credits.

As part of its ongoing efforts to deter identity theft, the Internal Revenue Service has issued final regulations on use of truncated Taxpayer Identification Numbers (TINs). The new regulations, which apply to those who furnish and receive payee statements and tax-related documents, generally follow proposed regulations issued last year, albeit with some modifications.

For active and reserve members of the U.S. military, the Internal Revenue Service has released a list of tax tips that cover the tax issues and benefits specific to those in uniform.

America's largest professional organization of tax and accounting professionals has had enough with the IRS.

When Roderick J. McDavis became Ohio University's president a decade ago, he moved into 29 Park Place, a 7,000-square-foot, 2 1/2-story home at the heart of OU's campus in Athens.

A new report by the agency that oversees the Internal Revenue Service says it's time to revise the ubiquitous Form 1040, the form used by individual taxpayers to report their annual income.

The Internal Revenue Service announced on Tuesday that Individual Taxpayer Identification Numbers (ITINs) will expire if not used on a federal income tax return for five consecutive years. The IRS will not begin deactivating ITINs until 2016, however.