Income Tax

Lawmakers are asking the IRS to accelerate an investigation into rich Americans seeking lucrative tax breaks in Puerto Rico.

The agency's actions, which were reported by TIGTA in May 2022, drew scrutiny from lawmakers and tax professionals.

While the actual percentages will remain the same, the income levels of each bracket change annually to adjust to inflation.

Treasury secretary says cutting IRS funding to pay for Republicans’ $14.3 billion Israel aid bill would be “damaging and irresponsible.”

The agency said Monday it will continue to allow alternatives to handwritten signatures to be accepted for certain tax documents.

The agency has increased staffing at its TACs by 31% during FY 2023 thanks to funding from the Inflation Reduction Act.

The business tax accounts are part of a continuing effort to improve IRS taxpayer services and make the agency more tech-friendly.

The agency said it recently recovered $122 million from 100 wealthy earners, in addition to $38 million collected earlier this year.