Internal Revenue Service

The Employee Retention Credit was intended to be a financial lifeline to small businesses struggling to make ends meet during the pandemic.The government program, seemingly flush with cash, led to the emergence of an industry of its own,…

In a significant policy shift, the U.S. Internal Revenue Service (IRS) has announced the immediate cessation of its long-standing practice of unannounced taxpayer visits by agency revenue officers. The decision cited by Reuters, aimed at…

New York CNN  —  So far this tax season, the IRS has received more than 100 million income tax returns for 2022. That means tens of millions of households have yet…

New York CNN  —  The past two tax-filing seasons were fraught with aggravations, delays, last-minute changes and huge backlogs at the IRS. But by comparison, this year’s…

Senate Finance Committee Chairman Ron Wyden, D-Ore., questions IRS Commissioner Charles Rettig at a Senate Finance Committee hearing.Tom Williams | Pool | ReutersPresident Joe Biden's nominee to lead the IRS answered questions during a…

vitapix | E+ | Getty ImagesPlanning to sell some investments this year? It's less likely to affect your 2023 tax bill, experts say.Here's why: The IRS made dozens of inflation adjustments for 2023, including the long-term capital gains…

Bill Oxford | E+ | Getty ImagesTax season is underway, and the IRS has issued nearly 8 million refunds worth about $15.7 billion as of Feb. 3, the agency reported.The average refund amount was $1,963, down from last year's average payment…

Rep. Bill Pascrell, D-N.J., speaks at a news conference announcing the state and local taxes caucus outside the Capitol on April 15, 2021.Sarah Silbiger | Bloomberg | Getty ImagesA group of bipartisan House representatives relaunched the…

The IRS on Friday issued federal tax guidance for millions of Americans who received state rebates or payments in 2022.The announcement came about a week after the agency had urged those taxpayers to hold off on filing while it determined…

dmphoto | E+ | Getty ImagesTax season is underway, and there's been increased scrutiny of the IRS as it starts deploying part of the nearly $80 billion in funding approved for the agency by Congress in August. While Treasury Secretary Janet…