IRS

The IRS has seen a new round of email scams where cybercriminals pose as potential clients looking for tax help.

The IRS has announced that it will start accepting and processing tax returns on Monday, Jan. 29, 2024. The agency expects more than 128.7 million individual tax returns to be filed by the April 15, 2024, tax deadline.

The special week is the IRS' latest effort in support of taxpayers and the tax community. Each year, millions of taxpayers seek the help of tax professionals to prepare their federal tax returns and other filings.

Hundreds of IRS-CI employees still had access to TikTok months after the app was banned from all government devices, TIGTA said.

Not everyone who was entitled to an EIP was able to collect the full amount they were owed. Either they didn’t receive the correct amount or they didn’t get a payment at all.

Depending on your situation, you might elect to forgo preferential tax treatment on certain long-term capital gains and qualified dividends in favor of deducting investment interest expenses.

Under the “ordering rules” established under IRS regulations, most of the payout of a nonqualified Roth distribution may be tax-free anyway—maybe even all of it.

The annual gift tax exclusion allows you to gift up to a specified amount to each recipient each year without any gift tax liability.