Tax Gap Grows to Nearly $700 Billion: IRS
The “tax gap” is getting bigger, according to the latest estimate of the amount of money Americans owe in federal taxes but fail to pay. The IRS said...
IRS Freezes Pandemic-Era Tax Credit
Amid growing concerns about fraud, the Internal Revenue Service announced on Thursday a moratorium on new claims for the Employee Retention Credit, a...
IRS Announces Crackdown on 1,600 Millionaires
The IRS announced Friday that it is targeting a group of high-income earners and corporations that have failed to pay their taxes in full — including...
Auditing High-Income Taxpayers Really Pays Off: Analysis
A recent paper published by the National Bureau of Economic Research provides further evidence that investing more resources in auditing capacity at...
Countries Could Lose $4.7 Trillion Due to Tax Havens Over the Next 10 Years: Analysis
Countries around the world stand to lose upwards of $4.7 trillion in revenues over the next 10 years due to the use and abuse of tax havens by...
IRS Says Agents Will Mostly Stop Making Unannounced Visits to Taxpayers
In what it called a “major policy change,” the Internal Revenue Service said Monday that its agents will largely stop making unannounced visits to...
IRS ‘Vastly Improved’ in 2023 Filing Season, Taxpayer Advocate Says
The IRS vastly improved its performance and delivered a dramatically better experience for taxpayers this past filing season, according to a new...
IRS Audits of the Rich Deliver Huge Bang for the Buck: New Study
Republicans have been clamoring to rescind billions of dollars in additional funding provided for the Internal Revenue Service as part of last year’s...
GOP Tax Plan Could Cost $1.1 Trillion Over 10 Years: Analysis
The House Ways and Means Committee is taking up a new package of tax cuts called the American Families and Jobs Act, which has yet to receive a score...
House Republicans Unveil Plan for New Tax Cuts
Fresh off their battle to cut federal spending in exchange for agreeing to raise the debt ceiling, House Republicans on Friday released plans for a...