IRS

The IRS is missing the required information for millions of American households that could potentially qualify to receive the expanded Child Tax Credit, a new report shows.

The infrastructure deal agreed upon by lawmakers and President Biden on Wednesday includes a crackdown on cryptocurrencies as one way to raise revenue to support spending.

Lawmakers are sounding the alarm about the IRS leak of wealthy taxpayer records earlier this year and are demanding accountability.

Top Republicans are raising concerns about unexplained tax gap estimates as IRS enforcement funding hangs in limbo during ongoing discussions regarding a bipartisan infrastructure deal.

Sen. Ron Wyden, D-Ore., this week warned that “millions” of families could be at risk of missing out on the expanded Child Tax Credit over their inability to access a key tool.

The IRS is warning taxpayers about a growing number of scams related to Child Tax Credit payments, which the agency just began sending to qualified households last week.

A New Jersey woman has fought for more than 7 years to prove to the IRS that she is, in fact, not dead, despite what their records say.

Tens of millions of families received some extra money on Thursday, when the IRS distributed the first of six monthly payments from the newly expanded child tax credit.

Mick Mulvaney told FOX Business' "Mornings with Maria" that there is "no way" to pay for Senate Democrats' $3.5 trillion spending bill without raising taxes on the middle class.

Millions of Americans who collected unemployment benefits last year and paid taxes on that money are in line to receive a federal refund from the IRS this week.

Some Democrats in Congress are pressing President Biden to repeal a $10,000 cap on state and local tax deductions as he considers tax increases, but a number of states have already approved a method that allows some residents to circumvent the cap.

The IRS potentially lost out on nearly $2 billion due to a decline in audits on the wealthiest households, a report by the Treasury Inspector General for Tax Administration found.

After sparking national backlash with its decision to reject the tax-exempt status request for a Texas-based Christian group, the IRS has now reversed course.

The tax deadline came and went, but the IRS has tens of millions of returns it has not yet processed due to a combination of COVID-19-related factors and late legislative changes made by Congress.

The National Taxpayer Advocate said the IRS had 35.3 million unprocessed returns at the end of the 2021 filing season, up more than four-fold from the 7.4 million unprocessed returns the agency had at the end of the 2019 filing season.

The 2021 tax season was the “quintessential definition of a perfect storm” according to officials, but the total average refund from the returns processed so far is slightly higher than previous tax seasons.

The IRS this week laid out the top 12 scams taxpayers should watch out for in 2021, with a heavy focus on schemes focused on COVID-19 relief.