IRS News

IRS still issuing stimulus checks. In a IRS memorandum, the service stated that taxpayers who never received the third payment, or stimulus check, can apply for a "Recovery Rebate Credit". The checks that some missed, went out starting in Marc... Read More

IRS urges record retention for disasters. The IRS, in light of recent hurricanes hitting the East Coast, is reminding everyone in Internal Revenue memo IR-2022-156, to be prepared for these events, by documenting records that they deem vital, i... Read More

IRS advises on improperly forgiven loans. In Revenue Post IR-2022-162, the IRS issued guidance on the fact that they were going to treat improperly forgiven Paycheck Protection Loans (PPL), would be taxable income to those who were found to ha... Read More

IRS under scrutiny for political audits. Democrats were seen raising pressure on the IRS, to explain why foes of former President Trump were targeted for a extensive audit after being fired from their government jobs. IRS Commissioner Charles R... Read More

Looking back at anti IRS arguments. When the Inflation Reduction Act was being proposed, and it came out that Democrats wanted $87 billion in funding for the IRS, to bring them up to speed after nearly a dozen years of under funding, Republican... Read More

Additional measures for IRS backlog. During the initial Covid lockdown, the IRS and other government agencies, along with households and private industry, were all locked door the first six months. The IRS is still recovering from that initial ... Read More

What is IRS going to do with $80 billion. The recently passed Inflation Reduction Act, signed by President Biden, will invest nearly $65 billion in health care, by making the Affordable Care Act easier for people to get into, by lowering the pr... Read More

Additional measures to cure IRS backlog. During the initial Covid lockdown, the IRS and other government agencies, along with households and private industry, were all locked down for the first six months. The IRS is still recovering from that ini... Read More

IRS being funded to start collecting. After years of under funding at the IRS, Congress weary of the political fallout from increasing deficits, have decided to fund the one government agency that actually returns nearly $14 for every dollar in... Read More

IRS to resume video tax preparer visits. The Government Accountability Office, or GAO, recommended in a report, to which the IRS agreed, that the service should test the feasibility of holding videoconference visits with tax returns preparers i... Read More