IRS

As of June 30, the agency has spent approximately $1.95 billion of the nearly $80 billion it will receive over a 10-year period.

The new estimate reflects a rise of more than $192 billion from the prior estimates for tax years 2014 to 2016.

For 2023, however, many taxpayers who had received an extension to file, also later faced various forms of natural disasters for which the IRS has granted additional time to file.

Gyetvay was convicted of concealing his ownership and control over substantial offshore assets and did not file tax returns or pay taxes on millions of dollars of income.

The consumer discount is one of the significant changes to electric vehicle tax credits implemented under the Inflation Reduction Act.

According to a report, former New York City mayor Rudolph Giuliani owes $549,435.26 in unpaid taxes and, as a result, the agency has placed a tax lien on a condo he owns in south Florida.

Taxpayers, particularly wealthy filers, were warned Thursday about scams involving exaggerated art donation deductions.

The IRS is slashing the costs for paid tax return preparers to renew their preparer tax identification numbers in 2024 by nearly 36%.