IRS

President Obama announced during a press conference at about 5:30 on Thursday evening that the Treasury Secretary had asked for, and received, the resignation of the acting Commissioner of the Internal Revenue Service.

In an awkward and unprecedented announcement this week, the Internal Revenue Service admitted that it targeted non-profits with “Tea Party” and “Patriot” in their names during the 2012 election year. The agency admitted they held up non-profit status for these groups, demanded lists of contributors to those organizations, and sought additional information about the groups.

Critics contend that delays and inadequate rules have hindered what could be a powerful way to fight tax fraud

Grant, Kay Named to IRS Leadership Posts

The IRS has released the 2014 inflation-adjusted amounts for health savings accounts (HSAs) in Rev. Proc. 2013-25.

In a recently released report to Congress, the U.S. Government Accountability Office (GAO) says that while the IRS has collected billions of dollars from offshore tax evasion, it may be missing even more.

A federal court in San Francisco has granted an order authorizing the U.S. Internal Revenue Service (IRS) to serve a summons seeking information about US taxpayers who may hold offshore accounts with FirstCaribbean International Bank (FCIB), a subsidiary of Canadian Imperial Bank of Commerce.

The Internal Revenue Service today released its final report summarizing audit results from the IRS’ colleges and universities study, which began in 2008. This final report describes the agency’s multi-year project on a major segment of tax-exempt organizations.