The Internal Revenue Service (IRS) announced on Tuesday a penalty relief for individuals who failed to pay their taxes on time during the pandemic.
Tags: Internal Revenue Service
IRS Slammed by Watchdogs Over Delays in Resolving Identity Theft Cases
The IRS received backlash from watchdogs for its delays in handling identity theft cases, which was deemed "unconscionable" despite financial support from democrats.
IRS: Majority of Employee Retention Credit Claims at Risk of Being Improper
The IRS has identified significant fraud risks in its review of $86 billion worth of Employee Retention Credit claims, with the majority deemed at risk of being improper.
IRS to End Major Loopholes Used by Wealthy People to Avoid Taxes, Adding $50 Billion in Return
The IRS will close a major tax loophole used by wealthy taxpayers to avoid paying taxes, potentially raising over $50 billion in revenue over the next decade.
IRS Set to Increase Audit Rates for Wealthy Taxpayers, Large Corporations, Business Partnerships
The audit rate for large corporations with assets exceeding $250 million is expected to almost triple, rising from 8.8% in 2019 to an estimated 22.6% by 2026.
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After revealing the real staggering number of accounts hacked by cyber criminals through the "Get Transcript" application, the Internal Revenue Service issued additional reports about the incidents.
Before Jane LeBoeuf started driving for Uber and Lyft, doing her taxes was cheap and easy. LeBoeuf would swing by the local H&R Block office, pay $150 and end up with a refund. But now, that is not the case.
Citigroup Inc had at least one advantage in its successful bid for the exclusive right to issue credit cards for Costco Wholesale Corp, rivals and tax specialists say: it lost so much money during the financial crisis that it has billions of dollars of tax credits.
Microsoft sued the Internal Revenue Service on Monday, seeking information about a law firm hired by U.S. tax authorities in a review of how the software company books sales between subsidiaries.
In June 2013, activist investors got the board of SandRidge Energy Inc (SD.N) to fire its CEO Tom Ward, arguing that he had mismanaged the Oklahoma City company and destroyed billions in shareholder value.
A final decision would be made on the commencement date for submission of tax returns for 2013 by the IRS in December.
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