IRS

Millions of parents across the U.S. can expect to receive some extra cash this week, when the IRS will start distributing the fifth round of payments from the expanded child tax credit.

Congress passed a bipartisan $1.2 trillion infrastructure bill on Friday that includes a controversial new cryptocurrency tax requirement, despite months of aggressive lobbying by industry groups as they looked to fend over stricter regulatory oversight.

Democrats are angling to repeal a Trump-era limit on state and local tax deductions as part of President Biden's signature spending plan, but a new analysis shows how the bulk of the proposal would benefit wealthy Americans.

Youngkin’s tax disclosures were reviewed over the weekend, giving a peek into the soon-to-be governor’s financial history.

Every day Americans and small businesses across the country will inevitably get caught in the crosshairs if this ill-advised proposal ever becomes law.

Workers will be able to set aside more money for their 401(k) plans in 2022, the Internal Revenue Service announced on Thursday.

Senate Democrats are making a last-minute effort to include a controversial proposal that would force banks to turn over most customers' account information to the Internal Revenue Service in the party's final tax and spending bill after President Biden omitted the measure from a revised framework.

The U.S. would have the highest personal income tax rate in the developed world under a White House proposal that would overhaul the nation's tax code in order to fund President Biden's signature spending plan.

Democrats aim to raise $400 billion in new revenue over the next decade by beefing up the Internal Revenue Service and cracking down on rich tax evaders, a plan that hinges on a revived fear of audits among the wealthy.

Top officials in the House Financial Services Committee on Tuesday called for a hearing to discuss Democratic proposals to tighten IRS regulations in an attempt to prevent tax evasion.

Manchin said President Biden agreed with him that it is unseemly to force the IRS to report bank accounts' inflows and outflows to the IRS.

Sen. Joe Manchin said Tuesday that a deeply controversial proposal that would force banks to turn over most customers' account information to the Internal Revenue Service will likely be dropped from Democrats' final tax and spending bill, even after the White House agreed to narrow the scope of the plan.

A group of nearly 100 banks and other industry groups urged the Biden administration to drop a plan to force banks to turn over most customers' account information to the Internal Revenue Service.

Republican state attorneys general appear poised to challenge the constitutionality of a proposal allowing the federal government to collect data on bank accounts, regardless of how many accounts are privy to the snooping.