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IRS aims to more than double its audit rate for wealthiest taxpayers in strategic plan update
The IRS has released an update on its strategic operating plan, which includes more audits on the wealthiest taxpayers, large corporations and partnerships.
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IRS to collect over $500 billion more from tax cheaters thanks to new funding, agency says
The IRS is poised to take in hundreds of billions of dollars more in overdue and unpaid taxes than previously anticipated, according to new analysis released Tuesday by the Treasury Department and the IRS.
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IRS says it collected $360 million more from rich tax cheats as its funding is threatened yet again
The IRS says it has collected an additional $360 million in overdue taxes from delinquent millionaires.
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Tax season 2024: Due dates and when IRS will start accepting tax returns
For the first time in five years, income tax returns will be due on their traditional date, but that isn’t the only thing to know about filing this year.
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Tax season 2024: Due dates and when IRS will start accepting tax returns
For the first time in five years, income tax returns will be due on their traditional date, but that isn’t the only thing to know about filing this year.
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IRS to send taxpayers a ‘special reminder letter' about debt. Who may get one and what to expect
Starting next month, the IRS will resume automated collection notices and some taxpayers will receive a “special reminder letter.” Here’s what to know.
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IRS halts processing of pandemic-era tax credit amid fraudulent claims surge
A growing number of questionable claims are coming from small businesses who may or may not be aware that they aren’t eligible.
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The IRS plans to crack down on 1,600 millionaires to collect millions of dollars in back taxes
The IRS is launching an effort to crack down on 1,600 millionaires and 75 large business partnerships that owe hundreds of millions of dollars in past due taxes.
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IRS unveils ‘paperless processing initiative' for taxpayers. Here's what to expect
The IRS will offer digital correspondence for the 2024 season and aims to provide “paperless processing” for tax returns in 2025. Here’s what to know.
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Watch your mailbox: IRS warns of new scam targeting taxpayers via fake letter
The IRS is warning people of scammers targeting your mailbox with a new ploy to try and get your private information.
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IRS Pledges More Audits of Wealthy, Better Customer Service
The IRS is outlining how it plans to use an infusion of $80 billion for improved operations.
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IRS Issues Clarification on Rebates, Says Illinois Taxpayers Can File Returns
Millions of taxpayers were asked to delay filing their 2022 tax returns after questions arose over whether or not specific rebates should be included as taxable income, and now the Internal Revenue Service has given their answer.
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As Millions Hold Off on Filing Taxes After IRS Request, Here's What to Know If You've Already Filed
As millions of taxpayers have been asked to delay filing their 2022 tax returns, those who may have already filed may be looking for guidance on the best course of action.
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IRS Says Many State Rebates Aren't Taxable at the Federal Level. Some May Face Filing Struggle, Tax Pros Warn
The IRS on Friday issued state rebate and payment guidance for millions of filers urged to pause federal filings. Here’s what taxpayers need to know.
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IRS Asking Some Residents to Hold Off on Filing Returns
In an unusual move, the IRS is asking some residents to hold off on filing their tax returns, NBC 5’s Lexi Sutter reports.
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As IRS Urges Taxpayers to Delay Filing, Here's What to Do If You Already Have
Millions of taxpayers in more than a dozen states are being asked to hold off on filing their 2022 returns as the agency works to clarify whether certain rebates and refunds constitute taxable income.
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What Are Some Common Tax Filing Errors?
These are some of the most common errors you should avoid when filing your taxes, according to experts and the IRS.
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College Students Are Helping People File Their Taxes for Free
VITA is an organization that partners with college students to provide free tax preparation services. Christopher Thornton, the president of the UCLA chapter, explains how it works.
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IRS: Taxpayers May Avoid a Surprise Tax Bill by Making a Quarterly Payment by Jan. 17
The fourth-quarter estimated tax deadline is Jan. 17. Here’s how to avoid a ‘surprise tax bill’ for 2022, according to the IRS.