Inside How Private Placement Life Insurance Slips Through the Cracks
Private placement life insurance (PPLI) policies that push the boundaries of what is acceptable under IRS
As the IRS targets wealthy Americans for audits, here are red flags for everyday filers
The IRS is working on plans to avoid increased audits on taxpayers making less than $400,000 — but certain areas can invite scrutiny, regardless of income.
Tax Panels Face Personnel Changes Ahead Of TCJA Debate
The House and Senate tax-writing committees are both set to lose veteran lawmakers in the next Congress, changing the dynamic on the panels as they gear up for a major fight next year over the fate of the expiring provisions of the Tax Cuts and Jobs Act.
Darren Guillot Responds to IRS Issuing Tens of Thousands of Credit Disallowances
The Internal Revenue Service (IRS) has recently issued approximately 100,000 Letter 105C notices, denying Employee Retention Credit (ERC) claims. This move is the first salvo from the IRS in delivering…
The IRS audited my husband’s 2021 tax return and, yes, he made some mistakes. Now it wants two years to look at his 2022 tax return. Is this normal?
‘Must we agree to have this hanging over our heads that long?’ Dear Tax Guy, My husband owns his own business. The Internal Revenue Service audited his 2021 income-tax return. There were some small mistakes. The amount due was paid. However, he received notice at the end of 2023 that he was also being audited for 2022.
IRS to Reject Billions of Dollars in ‘Improper’ ERC Claims
The IRS will deny billions of dollars’ worth of claims for a pandemic-era tax break while working to process lower-risk filings, the agency said on Thursday afternoon.
Staffing Hurdles Could Slow Impact of IRS Audit Boost
The Internal Revenue Service’s intended ramping up of enforcement on wealthy people, large corporations and complex partnerships may not have a meaningful impact in the short term because of challenges in hiring and training people to do the work.
IRS is expanding its free filing program. Here’s what that means for taxpayers.
During a pilot phase this spring, 140,000 participants received a total of $90 million in refunds. Nine in 10 users rated the software as “excellent” or “above average,” according to a government survey.
Do businesses take aggressive tax positions when IRS budget declines?
Companies take IRS budgets into consideration when developing their year-to-year tax strategies and take more aggressive tax positions when IRS budgets are smaller, and retreat to less risky tax positions when IRS budgets are higher, according to a new study.
IRS Forms Alternative Dispute Resolution Office
The IRS has formed a unit that aims to make it easier to quickly resolve tax disputes without litigation, an effort that will include more outreach on avenues available to taxpayers.