Republicans are currently weighing the best ways to devote more resources to the Internal Revenue Service (IRS) after years of budget cuts at the agency, but that doesn’t necessarily mean the number of audits are set to increase, experts say.
Beginning in February, Americans can expect to see tax reform changes reflected in their paychecks, however, the new system could leave more room for miscalculation where withholding amounts are concerned.
Treasury Secretary Steven Mnuchin tells FOX Business' Blake Burman the IRS is working on a new user-friendly form that fits the new tax system.
Treasury Secretary Steven Mnuchin discusses the new withholding guidance that will implement the GOP Tax Cuts and Jobs Act beginning in February.
The Internal Revenue Service told Congress this week that it needs extra cash to not only carry out its basic administrative duties, but also to implement the GOP’s sweeping tax reform package, opening a door for the agency to potentially start anew with Republicans in the wake of the infamous targeting scandal.
The Internal Revenue Service and U.S. Treasury Department released new withholding guidance on Thursday, indicating that employees should see the tax reform changes reflected in their paychecks by next month.
When new tax laws are passed, the agency needs to update forms, create new definitions, write regulations and field questions from taxpayers.
Lawmakers in high-tax states are looking for ways to circumvent the newly-imposed cap on the popular state and local tax (SALT) deductions that allow residents to save billions on their federal tax bills.
Two U.S. Democratic politicians asked a government watchdog on Monday to scrutinize implementation of President Trump's tax law, warning that the administration could use new tax guidelines to create the appearance of a large middle-class tax cut ahead of the 2018 mid-term elections.
Americans scrambling to prepay 2018 state and local taxes before year end may not get the federal deductions they hoped for, but that did not slow the rush on Thursday in some of the nation's highest-taxed municipalities.
Now that the GOP has passed its sweeping tax reform legislation, which is expected to alter tax rates for millions of Americans, it may not be too long before some employees see those changes reflected in their paychecks.
The estate tax affects a very small — and very wealthy — number of Americans.
Tea Party Patriots co-founder Mark Meckler explains why former IRS official Lois Lerner asked a federal court to keep her testimony regarding the Tea Party targeting case sealed forever.
FBN's Stuart Varney argues the IRS is getting political and degrading democracy.
When the tax man gets political, you know your democracy is being degraded. It’s happening now, at the IRS.
IRS commissioner John Koskinen’s last day on the job is Thursday, but he appears to have decided to bestow one final gift on the business community on his way out.
Wetumpka Tea Party President Becky Gerritson on the DOJ settling lawsuits over the IRS's targeting of conservative groups.
President Donald Trump said on Thursday he will appoint David Kautter as interim Internal Revenue Service (IRS) chief when current commissioner John Koskinen’s term expires next month.
As the Trump administration and GOP lawmakers work to complete a tax reform overhaul by year’s end, the Internal Revenue Service (IRS) released some cost-of-living changes that will go into effect beginning next year.
The Government Accountability Office (GAO) released the full text of its decision to deny Equifax’s (NYSE:EFX) appeal to preserve its $7.25 million anti-fraud prevention contract with the IRS, rejecting the credit reporting agency’s technical challenge against rival Experian.