Taxes March 13, 2025
The IRS estimates that more than 1 million people across the country may have unclaimed tax refunds from tax year 2021, and they have until April 15 to submit their federal return.
Taxes March 11, 2025
The average tax refund amount for tax returns filed through Feb. 28 was $3,382, about 6.3% higher than the average refund of $3,182 through Mar. 1, 2024, the IRS said last week.
IRS March 10, 2025
The bill would claw back $20.2 billion in spending for the Internal Revenue Service passed as part of President Joe Biden’s signature green-energy Inflation Reduction Act.
Taxes March 7, 2025
In the wake of recent reports of workforce reductions at the Internal Revenue Service (IRS), President and CEO, Mark Koziel, CPA, CGMA, of the American Institute of CPAs (AICPA) released the following statement.
Taxes March 7, 2025
The Tax Blotter is a round-up of recent tax-related news briefs.
Taxes March 7, 2025
Even though the Tax Court is commonly thought of as the forum of last resort for appealing tax bills and other IRS issues, there is a way to appeal a Tax Court ruling. However, the chances of success of these appeals are often relatively low.
Financial Reporting March 6, 2025
The AICPA awaits the release of additional details later this month but believes that Treasury is headed in the right direction with this decision.
Taxes March 6, 2025
For individuals, the rate for overpayments and underpayments will be 7% per year, compounded daily, the IRS said on March 6.
Taxes March 6, 2025
These criteria provide a framework to stablecoin issuers for presenting and disclosing information related to the tokens they issue.
IRS March 5, 2025
At the behest of the White House, the IRS is reportedly planning to cut its staff by as much as 50% as the Trump administration continues its mission to shrink the size of the federal workforce.
Payroll March 5, 2025
The National Association of Tax Professionals said it's trying to bridge the gap between recently displaced IRS workers and tax and accounting firms in need of skilled professionals.
Taxes March 4, 2025
The IRS said Feb. 27 that it's adding the two information return documents to its IRS Individual Online Account tool, which the agency said will consolidate important tax records into one digital location.