News

The IRS updated its FAQs on Notice CP53E with answers to four more questions, including how to determine if the QR code on the notice is legitimate.

The AICPA submitted almost 200 comments to the IRS this week regarding its 2026–2027 Priority Guidance Plan, encouraging the agency to concentrate on 10 areas and to continue pursuing tax simplification.

Taxpayers who aren’t due a refund but received a CP53E notice anyway can ignore the notice after they confirm its validity online, the Taxpayer Advocate Service (TAS) said.

The IRS plans to issue a settlement offer to eligible partnerships involved in syndicated conservation easement transactions, which have long been a focus of enforcement operations, with hundreds of cases now in the courts.

In a letter submitted to the Internal Revenue Service (IRS), the American Institute of CPAs (AICPA) requested Treasury and IRS provide guidance addressing Section 4960, which was amended last year by the OBBBA (One Big Beautiful Bill Act). Section 4960 imposes an excise tax on applicable tax-exempt organizations (ATEO) equal to 21 percent of the remuneration in excess of $1 million paid to “covered employees” of the ATEO.

Fraudulent or legitimate? In error or correct?

The Internal Revenue Service today announced a new, streamlined way for taxpayers to extend the period of time for the IRS and the IRS Independent Office of Appeals to review a taxpayer’s response to a disallowance of an Employee Retention Credit (ERC) claim to avoid refund litigation.

An online tool to help taxpayers understand and resolve tax debt is now available on the IRS website.

Tax time can come with big surprises for some people who have Affordable Care Act coverage, including owing money back to the government for premium subsidies received during the previous year.

The IRS dipped into its supplemental funding from the Inflation Reduction Act of 2022, P.L. 117-169, to “deliver a successful filing season” in fiscal year 2025 because its annual appropriation was not enough, an IRS watchdog’s report said.

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.