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Given the stock market’s performance this year, you may be thinking about taking some losses—otherwise known as tax loss harvesting. It’s a good strategy when investments in a taxable account decli…

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Internal Revenue Service computers keep spitting out perplexing letters and notices to taxpayers, and today the agency announced that it’s going to stop the machines, at least temporarily, in an effort to help taxpayers and tax pros. The 2022 tax season kicked off on January 24 for filing 2021 tax year returns, but millions of taxpayers are still waiting for the IRS to process last year’s returns.

A new report has exposed how five of the world’s wealthiest nations are threatening the chance to tackle the climate crisis by claiming leadership on the issue yet continuing to pump vast sums of m…

The Internal Revenue Service said Monday it has begun sending letters to more than 36 million families likely eligible to receive payments starting in July under the newly expanded Child Tax Credit…

It comes as no surprise that HMRC in the UK is taking action on regulating the arrangements with independent contractors. With prolonged furloughs and the insecurity surrounding BREXIT, more and mo…

The Internal Revenue Service entered this tax filing season severely backlogged and shorthanded—the result of decades of underfunding exacerbated by Covid-19 related strains. As of early last month…

The Treasury Department is reassessing the Internal Revenue Service’s use of third-party facial recognition software ID.me for access to taxpayer accounts amid growing concerns about the company’s privacy practices. A department official told FOX Business on Friday that Treasury and the IRS are exploring alternatives to ID.me. Bloomberg first reported the news.

The IRS is facing numerous challenges that have caused setbacks in issuing tax refunds this year. A recent National Taxpayer Advocate report confirmed that some 35 million tax returns are yet to be…

Everyone is talking about cryptocurrency these days, and it’s easy to see why. After all, the value of Bitcoin (BTC) temporarily surpassed the $60,000 threshold earlier this year, and Ethereu…

It’s tax season, let the sales pitches begin! Tax return preparation companies and do-it-yourself software providers are hard at work convincing individual taxpayers that their services and product…