News

The Internal Revenue Service today announced that taxpayers have signed up more than 4 million children for tax-favored Trump Accounts, of which more than 1 million children are covered by elections for the $1,000 Trump Accounts pilot program contribution. Eligibility for the $1,000 pilot program contribution depends on when the child was born.

Limited resources and a duplicative review process contributed to IRS problems with auditing large partnerships, a government watchdog said in a review issued earlier this month.

The IRS wants to deploy artificial intelligence, but workforce reductions that hit tech teams mean the agency has capacity gaps that could impact its ability to do so, according to a new report from Congress’ watchdog, the Government Accountability Office.

Residents exiting Massachusetts took a net of $4.2 billion in adjusted gross income with them in 2023, one of the largest totals in the country, after a tax on millionaires took effect.

The Internal Revenue Service today announced that over 1.3 million people across the nation have unclaimed refunds for tax year 2022 and face an April 15 deadline to submit their tax returns.

Consistent with applicable law and longstanding practice, the Secretary of the Treasury oversees the operations of all Treasury offices and bureaus, including the Internal Revenue Service. Secretary Scott Bessent’s service as Acting Commissioner of the IRS under the Federal Vacancies Reform Act has expired, and he has not served in that capacity since that time.

The Internal Revenue Service recently unveiled enhancements to the IRS Tax Withholding Estimator to reflect changes to credits and deductions under the One, Big, Beautiful Bill, including no tax on tips, no tax on overtime, and other tax benefits.

After issuing a decrease last year, the IRS on Tuesday posted slightly higher depreciation limitations for passenger automobiles. These limits are updated annually for inflation, based on the automobile component of the Chained Consumer Price Index for Urban Consumers.

The American Institute of CPAs (AICPA) is signaling its strong support for a bipartisan bill which contains 63 provisions designed to improve tax administration and reduce the burdens on taxpayers and their preparers. The Taxpayer Assistance and Service (TAS) Act, introduced by Senate Finance Committee Chairman Mike Crapo (R-ID) and Ranking Member Ron Wyden (D-OR), addresses important tax provisions that the AICPA has long-advocated for, including...

The Internal Revenue Service published, for tax year 2025, a new schedule that taxpayers will use to realize important tax benefits of the One, Big, Beautiful Bill, including no tax on tips, no tax on overtime, no tax on car loans, and no tax on seniors.

The Internal Revenue Service today announced the launch of a new web page that allows taxpayers to confidentially report suspected tax fraud, scams, evasion, or other tax-related illegal activities, as well as internal-facing improvements that will enhance how referrals are used to stop illegal activity.

The IRS said Monday in Announcement 2026-7 that it anticipates that portions of final regulations to be issued regarding required minimum distributions (RMDs) will apply for the distribution calendar year that begins no earlier than six months after the date that those regulations appear in the Federal Register.

The Department of the Treasury and the Internal Revenue Service today provided interim guidance for taxpayers regarding the special depreciation allowance for qualified production property enacted under the One, Big, Beautiful Bill.

The average direct-deposit tax refund amount is up 11% this year compared with the same span in 2025, the IRS said in a release.

With the 2026 filing season underway and increased call-center demand around the Presidents Day holiday on Feb. 16, the Internal Revenue Service encourages taxpayers to visit Let Us Help You on IRS.gov and use online tools to get fast, convenient help without waiting on hold.

The Internal Revenue Service today announced a new expansion of Tax Pro Account, introducing business-level digital capabilities for tax professionals who work in tax-preparation companies, accounting firms, or other organizations.

The IRS will stay fully staffed for the first five working days of a possible Saturday shutdown, a lapsed appropriations contingency plan posted late Friday shows — temporarily easing concerns that the IRS would furlough employees during tax filing season.

As the nation faces the possibility of another government shutdown, the American Institute of CPAs (AICPA) has urged the Internal Revenue Service (IRS) to release a contingency plan excepting 100 percent of IRS employees in the event of a shutdown. In a letter to the Agency, the AICPA highlighted the severe impact a failure to do so would have on the 2026 filing season.

The Internal Revenue Service today issued frequently asked questions in Fact Sheet 2026-02 PDF to help taxpayers, businesses, and other stakeholders understand the changes under Executive Order 14247: Modernizing Payment To and From America’s Bank Account.

National Taxpayer Advocate Erin M. Collins today released her 2025 Annual Report to Congress, finding that taxpayers generally fared well in their dealings with the IRS in 2025 and that most taxpayers are likely to have a smooth experience in 2026. However, the report cautions the upcoming filing season is likely to present greater challenges for taxpayers who encounter problems.