The Internal Revenue Service (IRS) and U.S. Treasury Department have issued final regulations (T.D. 10037) (Final Regulations ...

The notice provides an optional interim simplified method of determining whether a corporation is an applicable corporation for purposes of the corporate AMT and relief from the Sec. 6655 penalty for ...

WASHINGTON (AP) — IRS Direct File, the electronic system for filing tax returns for free, will not be offered next year, the Trump administration has confirmed. An email sent Monday from IRS official ...

(CNN) - The Internal Revenue Service is feeling the pinch from the government shutdown. Officials said they are furloughing nearly half of the agency’s more than 74,000 staff members. This move comes ...

IRS is developing a new Schedule 1-A to use to claim new deductions for tip income, overtime pay, car loan interest and new tax break for those 65 an older. IRS and Treasury give new guidance on what ...

The Federal Board of Revenue has removed the 'estimated fair market value' column from the 2025 income tax return form following directions from Prime Minister Shehbaz Sharif to ease the filing ...

The Treasury Department reported it has made significant progress on modernizing information systems at the Internal Revenue Service and signed agreements with a number of third-party contractors to ...

The IRS on Friday released a draft of Schedule 1-A (Form 1040), Additional Deductions, which includes sections for calculating four deductions allowed under H.R. 1, P.L. 119-21, commonly known as the ...

President Donald Trump has done an admirable job at defanging the IRS, which was converted into a weaponized agency targeting Democrats’ political enemies. Chief Justice John Marshall famously ...

Wondering what tax reporting might look like under the One Big Beautiful Bill Act (OBBBA)? The IRS has released drafts of some 2025 tax forms (that you’ll file in 2026), including a draft of the new ...