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The IRS is the US federal agency that collects federal taxes, enforces the tax code, and issues regulations on credits, deductions, and compliance.
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U.S. crypto investors on extension must file 2025 returns by Oct. 15 from Form 1099-DA statements that mostly report sale proceeds without cost basis. Taxes were generally due in April, so what the date now tests is whether filers can document what they paid.
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US crypto holders on extension must file 2025 returns by October 15 or pay a failure-to-file penalty of 5% of unpaid tax a month. The percentage applies only to tax not paid in April, so the date costs most for filers who underpaid in spring and still cannot document their cost basis.
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Meta treats its AI data centers as research "pilot models" to claim federal tax credits, the New York Times reported, in a year its credits totaled $3.912 billion. Meta has not said how much of that came from the data centers, and tax practitioners doubt that whole facilities of chips can pass the IRS test for research supplies.
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Treasury's temporary rules let it open Trump Accounts for up to 60 million eligible children on its own, starting Oct. 1. Employers and donors deciding on contributions this quarter are now sizing them against a wider group of accounts.
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Treasury limited one Section 351 ETF conversion on Monday and called others potentially abusive, as more than 120 funds use the structure. Advisers who sold it as a tax play now face a harder pitch, judged on how the portfolio is run after the swap.
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TwinFocus's John Pantekidis says 'huge' commissions drive sales of private-placement life insurance, a policy that generally takes $5 million or more to open. Its tax deferral on alternatives suits only clients with that much spare cash who will let a third party run the investments.
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IRS has drafted a first-ever tax-return question on citizenship or work authorization, and about 5 million active ITIN users would have to answer it. A separate 'qualified alien' test would govern child and earned-income credit claims if OMB approves the draft form.
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Retirement-answer-check's injection regex caught all 16 first-round attacks and none of the 20 written by a second red team that had read it. Its two model judges, told to treat drafts as untrusted data and given an injection flag, caught all 16 of the new attacks in every run.
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Crypto tax firms say the first 1099-DA forms left out basis and trades, reporting one client's $300,000-plus of stablecoin trades as under $100,000. Holders who moved coins between platforms now pay to rebuild that basis before they file.
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H.R. 9175 would move the tax on mining and staking rewards from the day they arrive to the day they are sold. Cryptobriefing.com reports the committee may cut that provision to bring a Democrat along before the September 16 markup.
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The IRS published 45Z's 2026 emissions rate table this week and, in Notice 2026-53, a safe harbor for 2025 fuel. The Energy Department is still building the manure updates to the model that sizes each credit.
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TIGTA's annual review of the direct contact rules logged 33 wrong answers from 18 IRS Field Collection employees, and found the agency keeps no record of when a revenue officer bypasses a client's representative.
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The proposed rule reaches admissions, scholarships and facilities. The first money out the door is a donor's deduction on a gift earmarked for the aid the rule targets, long before anyone gets examined.
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Reported US scam losses set a record at $15.9bn, against an FTC estimate near $200bn for 2024. Any statute making banks reimburse victims would be priced off the estimate, which is why nobody prices it.
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The tips and overtime deductions run from 2025 through 2028, but the IRS only revised the forms for 2026, which leaves payers three filing years to report figures their pay statements do not currently isolate.
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GAO says the IRS cleared about 98 percent of 177 million returns while the agency told those same auditors that staffing losses slowed the rest. Two Ohio CPAs are five months into that remainder, $8,000 outstanding.
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A retirement-income paper puts a 65-year-old couple's traditional IRA withdrawal at a zero federal rate. Two of its numbers do not reconcile as printed, and its biggest deduction lapses after 2028.
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Douglas O'Donnell says the cuts landed on enforcement and technology, which is why a smooth 2026 filing season tells you nothing about the capacity that matters later.
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Apple American Group's regulator filings put 8,447 notifications across three states and list a data inventory closer to a clinic's than a restaurant's. No company-wide total has been published.
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Proposed regs cap eligible investments at 0.1% in annual fees and require an unleveraged US equity index fund until the year the child turns 17. Seven million accounts are already open.
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