by usoftax_admin | May 22, 2024 | Tax News
Taxpayers who used the IRS’ Direct File pilot program this year took an average of 20 minutes to file a return and received more than $90 million in refunds, but no decision has been reached on whether to expand the free program or make it permanent, the agency... by usoftax_admin | May 22, 2024 | Tax News
The Internal Revenue Service has agreed to a five-year extension of the Free File program, in which tax software businesses offer their return preparation and filing products free to the lowest 70% of taxpayers by adjusted gross income, the agency announced... by usoftax_admin | May 22, 2024 | Tax News
The U.S. Tax Court invalidated a tax liability determination by the IRS for an Ohio partnership for 2016, saying in a ruling Wednesday that the partnership had made a valid election to undergo a special audit process and the agency had failed to honor it. by usoftax_admin | May 22, 2024 | Tax News
The release of a form for reporting digital asset transactions is a pivotal moment in the Internal Revenue Service’s efforts to track cryptocurrency activities that increases oversight by requiring brokers to report investor sales and exchanges, say Shaina Kamen... by usoftax_admin | May 22, 2024 | Tax News
Presidents and vice presidents would be required to disclose their tax returns for the two years preceding their time in office under legislation introduced Wednesday by House Oversight and Accountability Committee Chairman James Comer.