IRS February 20, 2025
Trump Administration Fires 6,700 IRS Employees During Tax Season
The purge largely targeted newer “probationary” employees who have fewer protections than long-term workers.
IRS February 20, 2025
IRS Plans to Cut Thousands of Employees by Mail
A technical glitch prevented officials from notifying thousands of IRS employees via email that they were being terminated. The agency had to resort to paper.
IRS February 19, 2025
IRS Workers in Kansas City Brace for Mass Layoff
National Treasury Employees Union Chapter 66 president Shannon Ellis said the union had been informed by IRS leadership that as many as 1,000 probationary employees would be let go this week.
Taxes February 19, 2025
Should You Report Cryptocurrency on FATCA Form 8938?
As it has become a more common asset among your average investors, these folks have had many questions about the tax implications of investing in cryptocurrency, or virtual currency, as it is also known. The answers can be somewhat complicated.
IRS February 18, 2025
Bessent: DOGE Effort Has Saved Estimated $50 Billion Thus Far
Treasury Secretary Scott Bessent said Americans “don’t have to be concerned about any of this,” referring to attempts by the DOGE team to access a broad range of taxpayer data, including on individuals.
Taxes February 17, 2025
Trump Cabinet Member Blames Democrats for IRS Audit
Secretary of Defense Pete Hegseth accused former President Joe Biden’s administration of rushing an IRS audit into him in a post to social media platform X on Monday.
IRS February 17, 2025
IRS Sets Stage for Musk Adviser to Access Taxpayer Data
The IRS is poised to hand over unlimited access to taxpayer data to an adviser from Elon Musk’s government efficiency group, according to a draft agreement between the tax agency and the Office of Personnel Management.
Taxes February 15, 2025
CPA Weekly Tax News Roundup – Feb. 16, 2025
The CPA Practice Advisor Weekly Tax News Roundup is a weekly recap of tax-related news from the past week. From IRS news and tax court cases, to state, SALT, legislation and other related areas, the roundup can help you catch-up on recent changes. === Let us know if you like this new feature using the...…
Taxes February 14, 2025
Average 2025 Tax Refunds Up by More Than $300, IRS Says
Data released on Feb. 14 by the IRS shows the average refund is coming in at $2.065, up from $1,741 in 2024.
Taxes February 13, 2025
New IRS Guidance on Cryptocurrency Complicates Reporting But Includes Temporary Safe Harbor
With cryptocurrency's increase in popularity, the IRS has introduced some complicated reporting requirements to ensure compliance with U.S. tax laws.
Taxes February 11, 2025
$1,928 is the Average Refund Amount So Far This Tax Season
Since the start of the 2025 tax filing season on Jan. 27, the IRS has issued 3.23 million refunds with an average refund amount of $1,928 as of Jan. 31, the agency said last week.
Income Tax February 10, 2025
IRS Income Tax Refund Schedule for 2025
This chart can help you estimate when you should get your 2025 income tax return, based on when you file and a few other easy factors.