When filing your taxes, you don't want to make any mistakes, or you can trigger an audit from the IRS. These are the most ...

The Internal Revenue Service doesn't collect data on taxpayers' race or ethnicity, but some of its methods could lead to disparities in its audit rate, according to a new report. The GAO report ...

Navigating the complexities of tax filing can be daunting, especially with the looming possibility of an IRS audit.

The Internal Revenue Service has launched a new initiative using artificial intelligence to detect and penalize tax evasion amongst 75 hedge funds, private equity groups, real estate investors, and ...

The IRS is underway with conducting audits of 35 §501(c)(3) hospitals, which it announced in June 2024, with a particular focus on “community benefit.” Targeted hospitals appear to be those who ...

IRS is focused on Businesses since the passage of the Inflation Reduction Act. Under the Strategic Operating Plan (funded by the Inflation Reduction Act), the IRS is increasing audit rates, expanding ...

The IRS’s increased documentation requirements for Sec. 41 claims require taxpayers to specifically identify applicable business components and their costs and why their development is qualified ...

Being in business for yourself can be exciting, lucrative, and a great way to draw the attention of the IRS's audit division. The IRS has audited significantly less than 1% of all individual returns ...

To find wealthy individuals and corporations that evade billions in taxes each year, the IRS tries to entice the sort of high-placed insiders best positioned to expose such crimes. If the government ...

Defense Secretary Pete Hegseth on Monday alleged that the Biden administration “rushed” an IRS audit of him after he was nominated, suggesting that the former administration ordered a politically ...

When taxpayers submit their returns this year, they will hope they have faithfully fulfilled their civic duties and can rest on their laurels — at least until next spring. But for millions of ...

IRS says audits for rich people and corporations are about to hit a whole new level. Buckle up. Provided by Dow JonesMay 4, 2024 2:30pm Andrew Keshner IRS releases new specifics on its plans for using ...