IRS Earns Praise for ERC Claim Withdrawal Initiative
An IRS initiative that will allow businesses to withdraw questionable employee retention credit claims is being hailed as a positive development that could help taxpayers and the IRS alike.
IRS Denied Your Employee Retention Credit (ERC) Claim — Now What?
The IRS is moving forward with issuing tens of thousands of denial/disallowance letters to applicants of the Employee Retention Credit (ERC).
Our experts share insights on the IRS’s newly created office, its use of AI, and an update on ERC processing
IRS has recently announced several achievements, including the development of a new program office, while also acknowledging difficulties in areas such as the processing of coronavirus disease (“COVID”)-era tax credits.
IRS Compliance Restructuring Plan Faces Steep Road to Reality
An item in the IRS’s strategic operating plan to centralize its enforcement function could herald the most substantial reorganization for the agency since 1998 — or it may fizzle out altogether.
IRS commits to making Child Tax Credit changes quickly
The Internal Revenue Service would be able to implement changes to the Child Tax Credit within weeks, IRS Commissioner Danny Werfel told Congress, and send out tax refunds promptly.
IRS commissioner nomination advances amid debate over $80 billion agency funding
The Senate Finance Committee this week voted to advance Daniel Werfel’s nomination to become IRS commissioner amid fierce debate over the agency’s $80 billion in funding.
IRS Can Seek Bank Records Without Notice, Supreme Court Says (2)
The US Supreme Court on Thursday rejected a proposed limit on the IRS’s ability to demand a bank account holder’s records without giving notice as part of an effort to collect on someone else’s delinquent taxes.
I.R.S. Backlogs Continue as Republicans Mount Offensive
The National Taxpayer Advocate expressed hope that better days were ahead for the tax collection agency.
IRS aims to close ‘inequity gap’ for unpaid taxes. How the agency targets top earners for audit
The IRS will continue to crack down on top earners who haven’t paid taxes owed — and certain returns may see increased scrutiny, experts say.
IRS Accelerates Work on Employee Retention Credit Claims
The Internal Revenue Service announced today continued progress on Employee Retention Credit claims, with processing underway on about 400,000 claims, representing about $10 billion of eligible claims.