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IRS Promises Fewer Audits of Earned Income Tax Credit Claims

After years of auditing some taxpayers with lower incomes at higher rates, the IRS says it’s making a change. IRS audits raise anxiety for many taxpayers. What can be even more frustrating is when those examinations seem unevenly targeted to taxpayers with lower incomes. That’s been the case with the earned income tax credit (EITC), which has been the subject of recent controversy. (A study released earlier this year found that the IRS audits Black taxpayers at about three to five times higher r ....

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New IRS Form 1099 Crypto Reporting Rules Bring More Taxes

No matter the transaction, you may have a gain or a loss triggering taxes. And new 1099 reporting rules will make the tax bite more certain. ....

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IRS Gives Idalia Tax Relief & Feb. 15 Filing Date To South Carolina

The IRS announced tax relief for taxpayers impacted by Idalia in South Carolina. They now have until Feb. 15, 2024, to file and make tax payments. ....

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IRS Gives Hurricane Idalia Victims Tax Extension To Feb. 15 + Relief

The IRS has announced tax relief until Feb. 15, 2024 for those affected by Hurricane Idalia in parts of Florida. The relief applies to those in FEMA disaster areas. ....

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IRS Exempts Most State Tax Refunds, Some Other Payments From Tax

The IRS exempted many state tax refunds and rebates from tax, and expanded on guidance it gave in early 2023 about payments you need to include on your IRS return. ....

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