IRS

The Internal Revenue Service is the revenue service of the United States federal government. The government agency is a bureau of the Department of the Treasury, and is under the immediate direction of the Commissioner of Internal Revenue, who is appointed to a five-year term by the President of the United States.

(source: irs.gov)

IRS Tightens Rules for Digital Business Payments
IRS Tightens Rules for Digital Business Payments
November 10, 2021  |  Taxes

For consumers who use services like PayPal, Venmo or Square to conduct business, next year’s tax season could be a lot more complicated. As CNN...

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Yellen Asks Congress to Make Banks Report Taxpayer Cash Flows to IRS
Yellen Asks Congress to Make Banks Report Taxpayer Cash Flows to IRS
September 16, 2021  |  Taxes

Treasury Secretary Janet Yellen and IRS commissioner Charles Rettig have been pressuring lawmakers to give the IRS more information on taxpayers’ bank accounts. The Wall...

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CBO: Biden’s IRS Proposal Could Yield About $200B in Revenue
CBO: Biden’s IRS Proposal Could Yield About $200B in Revenue
September 03, 2021  |  Taxes

The Congressional Budget Office (CBO) says it has concluded its analysis of a proposal by the White House to increase spending on IRS enforcement activity...

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IRS: Bank Reporting Data Key To Addressing Tax Evasion
IRS: Bank Reporting Data Key To Addressing Tax Evasion
September 02, 2021  |  Taxes

In a letter to Sen. Elizabeth Warren (D-Mass.) IRS Commissioner Charles Rettig said requiring banks to provide insight into customers’ transaction history could help the...

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Intuit Leaving IRS Free File Program After 20 Years
Intuit Leaving IRS Free File Program After 20 Years
July 16, 2021  |  Taxes

Intuit is leaving the IRS Free File program after 20 years because of “limitations of the Free File program and conflicting demands for those outside the...

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Hike In ID Fraud Causes Delays In US Tax Refunds, Stimulus Checks
Hike In ID Fraud Causes Delays In US Tax Refunds, Stimulus Checks
June 13, 2021  |  Taxes

Identity thieves are inflicting pain not only on victims, but on taxpayers whose refunds have been delayed by IRS security protocols the criminals have made...

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Bitcoin Daily: Amazon Looking For Staff With DeFi Experience; IRS Seeks Congressional OK To Regulate Cryptos
Bitcoin Daily: Amazon Looking For Staff With DeFi Experience; IRS Seeks Congressional OK To Regulate...
June 08, 2021  |  Bitcoin

Amazon is on the hunt for those with expertise in decentralized finance (DeFi), CoinDesk reported. “The candidate will have a track record delivering outstanding products...

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60,000 Stimulus Checks Sent To The Dead Returned Voluntarily
60,000 Stimulus Checks Sent To The Dead Returned Voluntarily
May 27, 2021  |  Coronavirus

Nearly 60,000 stimulus payments made to dead people have been returned so far, according to a new report from the Treasury Inspector General. The report says...

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IRS Tightens Oversight Of Crypto Trades And Taxes
IRS Tightens Oversight Of Crypto Trades And Taxes
May 20, 2021  |  Regulation

Whether crypto swoons or crypto booms, the Internal Revenue Service is going to keep better track of the ups, downs, gains and losses at least...

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