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Internal Revenue Service (IRS) News




IRS To Close Carried Interest Loophole, Says Mnuchin

by Mike Godfrey, Tax-News.com, Washington

Wednesday, February 21, 2018

The Internal Revenue Service (IRS) will issue guidance soon to close a tax loophole that is said to be enabling hedge fund managers to access lower rates of tax reserved for carried interest. Read Full Story

 


US Taxpayers 'Failing To Disclose Crypto Gains'

by Mike Godfrey, Tax-News.com, Washington

Tuesday, February 20, 2018

Very few US taxpayers are reporting cryptocurrency gains in their tax returns, according to preliminary figures published by a tax return preparation company. Read Full Story

 


IRS Urged To Immediately Correct Staff Bonus Shortcomings

by Mike Godfrey, Tax-News.com, Washington

Tuesday, February 20, 2018

Kevin Brady, Chairman of the House Ways and Means Committee, and his counterpart in the Senate, Orrin Hatch, have called on the Internal Revenue Service to better screen bonuses paid to staff. Read Full Story

 


Singapore Issues More Automatic Tax Info Exchange Guidance

by Mary Swire, Tax-News.com, Hong Kong

Saturday, February 17, 2018

Singapore's tax agency has made two announcements recently concerning the automatic exchange of information on foreign taxpayers' affairs, on the Common Reporting Standard and the US Foreign Account Tax Compliance Act. Read Full Story

 


IRS Issues Filing Tips Ahead Of Busy Tax Season Period

by Mike Godfrey, Tax-News.com, Washington

Saturday, February 17, 2018

The Internal Revenue Service (IRS) has offered taxpayers several tips and time-saving resources, in anticipation that there will be a surge in filing activity during President's Day weekend (February 17-19). Read Full Story

 


Trump Announces Rettig To Lead IRS

by Mike Godfrey, Tax-News.com, Washington

Wednesday, February 14, 2018

US President Donald Trump has announced his intent to nominate tax lawyer Charles P Rettig as Commissioner of the Internal Revenue Service for the remainder of a term of five years beginning on November 13, 2017. Read Full Story

 


Tax-Related Identity Theft Down 40 Percent, IRS Says

Mike Godfrey, Tax-News.com, Washington

Tuesday, February 13, 2018

The Internal Revenue Service has announced steep declines in tax-related identity theft in 2017, attributing the success to its Security Summit initiative, a private-public sector partnership formed in 2015 to combat identity theft. Read Full Story

 


IRS May Delay More Tax Refunds To Tackle Fraud

Mike Godfrey, Tax-News.com, Washington

Tuesday, February 6, 2018

The Internal Revenue Service has been successful in implementing processes to identify and prevent fraud but could do more to strengthen pre-refund verification, according to a new report from the US Government Accountability Office on last year's tax filing season. Read Full Story

 


IRS Warns Practitioners Of New Identity Theft Tax Scam

Mike Godfrey, Tax-News.com, Washington

Monday, February 5, 2018

The Internal Revenue Service has warned tax professionals of a new filing season scam. Read Full Story

 


Taxpayer Support For Bill To Increase Oversight Of IRS Hires

Mike Godfrey, Tax-News.com, Washington

Wednesday, January 31, 2018

Americans for Tax Reform has urged Congress to endorse legislation that would tighten rules concerning Internal Revenue Service hires. Read Full Story

 

 

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