The U.S. Internal Revenue Service is using billions of dollars in new funding to launch a new strategic operating plan to transform and improve is tax services over the next ten years.

Millions of Americans are waiting for updates on a $1,390 stimulus payout that's expected to come out next month as part of a federal relief plan geared toward low and middle-income houseolds.

The IRS is also exploring the option for taxpayers to file certain tax returns directly with the IRS online. And the plan expects that taxpayers will have access to new status-tracking tools by ...

Americans saving for retirement will benefit from increased contribution limits for their 401(k) accounts in 2025, following a decision by the IRS. However, these adjustments come alongside the ...

IRS plans another major change, raising alarm bells According to a new report from AP News, the IRS is contemplating cutting half its workforce through layoffs, incentivized buyouts, and attrition ...

If you are someone who likes to plan ahead on your taxes, the IRS this week released the new inflation-adjusted income tax brackets and standard deduction amounts that will be in effect for tax ...

The IRS says filings for large pass-through businesses used for the type of tax avoidance in the guidance increased 70% from 174,100 in 2010 to 297,400 in 2019.

Short-Term Payment Plan – Available for taxpayers who owe less than $100,000 in combined tax, penalties, and interest. This plan allows up to 180 days to pay off the full balance.

The IRS generally has three years to audit a tax return. In its most recent finalized audit rates, the IRS said it examined 11% of 2019 returns with total positive income above $10 million, up ...

If you are someone who likes to plan ahead on your taxes, the IRS this week released the new inflation-adjusted income tax brackets and standard deduction amounts that will be in effect for tax ...

The IRS failure-to-pay penalty is 0.5% of a client’s unpaid taxes for each month or part of a month that the tax remains unpaid, up to 25% of the tax due; the current IRS interest rate is 7%.

Internal Revenue Service taxes forms are seen, Feb. 13, 2019. Keith Srakocic/AP, FILE With tax season set to kick off next week, the IRS is launching a new initiative to redesign and simplify ...