Celebrities who went to jail on tax charges
Tax evasion – involving nonpayment or underpayment of tax obligations – can result in jail time for a select few negligent taxpayers.
IRS will fail to collect trillions of dollars over the next decade, researchers estimate
The IRS estimated it failed to collect $380 billion in taxes per year, between 2011 and 2013. Using those figures, and accounting for inflation and income growth, Summers and Sarin estimated the IRS would not collect nearly 15 percent of total tax liabilities in 2020 alone — or $630 billion.
IRS hikes 401(k) contribution limit for 2020
Here’s how much you can contribute to your retirement plans.
IRS releases updated income tax brackets for 2020
A look at the new rates that will affect returns taxpayers typically file beginning in 2021.
Getting threats your Social Security number will be suspended? It's a scam, IRS says
Fraudsters stole more than $1 billion from Americans in 2018.
Schumer, Senate Democrats will force vote to repeal IRS ruling on SALT cap workaround
The IRS issued guidance blocking a SALT workaround in June.
Some companies steered low-income taxpayers away from free file options: Report
The Free File program, however, is in need of no major changes.
Trump to sign 2 executive orders to cut red tape
President Trump is going to sign two executive orders with the hope to cut red tape for taxpayers and small businesses.
IRS audits more poor taxpayers because it's easier, cheaper than targeting the rich
The tax agency said it needs more funds from Congress in order to boost audits of wealthier taxpayers.
How many Americans are paying all of their taxes?
More Americans have said they think it is okay to cheat a bit on their taxes.
Email from the IRS? Watch out for this new scam
The IRS will never send you any unsolicited email or email you about the status of your tax refund.
‘Bachelorette’ contestant involved in Chrisley family sextortion drama
Robby Hayes from the season 12 of “The Bachelorette” is reportedly working with the FBI in a sexortion case against Todd Chrisley, who stands accused of trying to extort his own daughter over his own tax evasion issues.
Trump wants a Fed, payroll tax cut
President Trump says he'd like to see a cut in the Fed rate as well as a payroll tax cut.
Why US corporations are paying billions less than they owe in taxes
Democratic lawmakers have been ramping up calls on the campaign trail for corporations to pay their fair share.
IRS says 400K Americans who underpaid taxes will have penalty automatically waived
Even those who did not claim an available waiver will not be subject to a penalty.
Willie Nelson cancels August tour dates, but not giving up on performing yet
A breathing problem led the 87-year-old singer to cancel the next 6 stops on his tour. But he won’t give up the hustle. One look at his career and it’s easy to see why.
IRS tells 10K taxpayers to pay up on virtual currency transactions
Failure to comply could result in audits and even criminal investigations, the agency said.
23andMe genetic testing kits now eligible for this tax break
Taxpayers might be able to save on a portion of the company's medical testing services.
New York, New Jersey among high-tax states suing IRS for killing SALT cap workaround
Some Democratic leaders believe the tax provision was politically motivated.
IRS tax tips: 6 ways to stop cybercriminals from accessing your private information
The IRS says it has made “major progress” against identity theft in tax returns, but evolving tactics still threaten taxpayers’ sensitive data.