WASHINGTON, DC – APRIL 15: The Internal Revenue Service (IRS) building stands on April 15, 2019 in … [+] Washington, DC. April 15 is the deadline in the United States for residents to file their income tax returns. (Photo by Zach Gibson/Getty Images) Getty Images The Internal Revenue Service (IRS) announced that IRS Free File […]
Internal Revenue Service AFP via Getty Images The IRS routinely monitors abusive tax transactions. If a particular transaction becomes more prevalent, the agency identifies it as a “listed transaction,” requiring self-reporting by taxpayers (IRS Form 8886) and material advisors (IRS Form 8918). The agency can impose significant civil penalties and criminal sanctions for the failure […]
The Internal Revenue Service (IRS) headquarters building in Washington. J. David Ake/AP hide caption toggle caption J. David Ake/AP Approximately 1 million taxpayers will automatically receive special payments of up to $1,400 from the IRS in the coming weeks. The money will be directly deposited into eligible people’s bank accounts or sent in the mail […]
WASHINGTON — Tens of thousands of wealthy Americans are not complying with recently revamped Internal Revenue Service efforts to get them to file tax returns, according to data obtained exclusively by CNBC. A quirk in federal tax law may be incentivizing wealthy people who want to avoid paying taxes to simply not file their returns. […]
TOPSHOT – Tesla CEO Elon Musk (R) joins former President Donald Trump during a campaign rally in … [+] Butler, Pennsylvania on October 5, 2024. (Photo by Jim WATSON / AFP) (Photo by JIM WATSON/AFP via Getty Images) AFP via Getty Images Elon Musk and Vivek Ramaswamy, who President-elect Trump has put in charge of […]
The IRS (Internal Revenue Service) headquarters building in Washington DC getty To combat late information return filings, the IRS has systemically assessed penalties for certain late-filed international information returns, including IRS Forms 3520, 3520-A, 5471, and 5472. Under these systemic assessment procedures, the IRS automatically imposes penalties against taxpayers who file one or more of […]
For eight months, the criminal investigator who pioneered cryptocurrency tracing as a law enforcement technique has, in a bizarre twist of fate, been jailed in Nigeria facing charges of money laundering and tax evasion. Now he may finally be coming home. On Wednesday in Abuja, a court ruled that criminal charges against Gambaryan, a Binance […]
(Photo Illustration by Scott Olson/Getty Images) Getty Images Let’s not bury the lead and get to what everyone in the estate planning world cares about. Here are the new exemption amounts for estate tax, gift tax, and generation skipping transfer tax exemptions amounts and the annual exclusion amount for 2025: Estate Tax, Gift Tax, and […]
