Disclosure is a type of extra explanation. You are required to disclose enough detail to tell the IRS what you are doing. But ...

Billy Long wouldn’t give a direct response when asked if the president can order the Internal Revenue Service to strip someone’s tax-exempt status.

Billy Long, President Donald Trump’s nominee to serve as IRS Commissioner, answered questions about his involvement promoting ...

Tax experts, IRS employees and former Treasury Department officials are all warning that the US government could lose hundreds of billions of dollars in revenue because of the Trump administration’s ...

The Senate Finance Committee questioned Trump's nominee about his plans for the beleaguered agency and promotion of dubious ...

Explore the intricacies of filing multiple tax returns, understand when it's permitted, the risks involved, and the ...

Have you ever wondered why some people seem to get audited by the IRS while others never hear a peep? It’s not just bad luck ...

Your five-year-old side hustle likely left a permanent digital footprint. Payment platforms like PayPal, Venmo, and Cash App now report transactions to the IRS when they exceed certain thresholds.

Analyzing filed tax returns against income reported to the IRS, the tool flags discrepancies that could trigger audits, allowing professionals to take corrective action in advance. Available to ...

“Audit rates for the average taxpayer have remained relatively low for years and will likely continue at similar levels in ...

What May Trigger an Audit This Year The IRS uses automated systems and statistical models to flag returns that appear unusual compared to others in similar income brackets. Personnel review those ...

The IRS has identified certain audit triggers, particularly concerning self-employed taxpayers. Claiming excessive or questionable deductions, especially those that don’t align with reported ...