IRS

Americans who received the third round of stimulus checks or an advanced child tax credit payment should be on the lookout for two important letters from the Internal Revenue Service.

The Build Back Better bill is a $1.7 trillion social safety net that includes investments in climate change, health care and child care, which includes expanding child tax credit (CTC) payments through 2022.

Americans looking to tuck away some extra cash next year can take advantage of an oft-overlooked tax break recently updated by the Internal Revenue Service to reduce their liability next year.

Tens of millions of Americans could see their bank account information swept up and reported to the Internal Revenue Service under a deeply controversial proposal from Democrats, according to a new analysis. 

Republicans are amplifying criticism of Democrats' massive social spending package, taking aim at a tax provision they say would disproportionately benefit ultra-wealthy Americans in blue states.

Democrats have proposed a minimum tax on income that well-off corporations report to investors in order to help fund President Biden's sweeping tax and spending package.

As President Biden’s $1.75 trillion spending bill advances to the Senate, Republicans are issuing dire warnings about an aggressive IRS tax enforcement proposal that will be a key factor in determining whether the expansive legislation’s costs are fully covered.

The sweeping social spending and climate bill that House Democrats passed on Friday morning includes a temporary repeal of a Trump-era limit on the state and local tax deduction – a policy that would deliver huge windfalls to the wealthy while providing almost no benefit to middle-class Americans.

The nonpartisan Congressional Budget Office estimated Thursday that President Biden’s social spending bill will add $367 billion to the federal deficit over the next 10 years, without counting potential revenue from an IRS tax enforcement crackdown that White House officials claim will cover the remaining cost.

The Internal Revenue Service could soon get a massive infusion of cash to help it track down wealthy tax cheats.

Enhanced IRS tax enforcement provisions included in President Biden’s social spending bill will cause audits to double over the next 10 years, according to a Republican memo distributed by House Minority Leader Kevin McCarthy, R-Calif., to GOP lawmakers on Thursday morning.

Millions of parents across the U.S. can expect to receive some extra cash this week, when the IRS will start distributing the fifth round of payments from the expanded child tax credit.

Congress passed a bipartisan $1.2 trillion infrastructure bill on Friday that includes a controversial new cryptocurrency tax requirement, despite months of aggressive lobbying by industry groups as they looked to fend over stricter regulatory oversight.

Democrats are angling to repeal a Trump-era limit on state and local tax deductions as part of President Biden's signature spending plan, but a new analysis shows how the bulk of the proposal would benefit wealthy Americans.

Youngkin’s tax disclosures were reviewed over the weekend, giving a peek into the soon-to-be governor’s financial history.

Every day Americans and small businesses across the country will inevitably get caught in the crosshairs if this ill-advised proposal ever becomes law.

Workers will be able to set aside more money for their 401(k) plans in 2022, the Internal Revenue Service announced on Thursday.