Experts urge individuals to check their withholding amounts under the new code.
Tax regulation should be overseen by the OMB and Treasury.
The Internal Revenue Service (IRS) issued a warning to taxpayers this week to beware of “erroneous refunds.”
The move follows a pair of executive orders issued by the president last year. Some of the regulations have been outdated for decades.
President Donald Trump will nominate Charles Rettig, a California tax attorney, to lead the Internal Revenue Service (IRS) as it implements the Republican tax cuts.
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.
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.
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.
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.
I know being number one is great at the Olympics, but in the world of tax rates, well, it’s basically the worst. We can do better – American families and businesses deserve it.
The estate tax affects a very small — and very wealthy — number of Americans.
H&R Block CEO says 1Q results are not acceptable.
Opinion: Who’s better -- H&R Block or an accountant? If you’re an accountant like me, my answer may surprise you.
The Internal Revenue Service on Monday released a list of more than 400 groups who were singled out for conservative tendencies.
According to a new report from the Treasury Inspector General for Tax Administration, the IRS failed to notify some taxpayers after their accounts were compromised by hackers in 2015.