Internal Revenue Service

An accidental disclosure last spring at the I.R.S has reportedly exposed a $1 billion tax fight with Bristol-Myers Squibb Co (NYSE: BMY). The agency believes the company used an abusive offshore scheme to avoid federal taxes. The disclosure was almost immediately pulled from public...

Facebook Inc (NASDAQ: FB) has shut down several holding companies in Ireland responsible for international sales. What Happened: The social media platform has moved one of its intellectual properties units out of Ireland, the country where it was able to move billions in profits largely...

The year Donald Trump won the presidential election, he paid $750 in federal income taxes, according to a New York Times report. The next year — his first as a resident of the White House — the tax amount didn't change. What Happened: The president paid no...

The United States Internal Revenue Service said in a statement on Monday it had identified multiple malicious actors taking advantage of the novel coronavirus (COVID-19) pandemic to make a profit. What Happened The IRS noted that the criminal activities extend beyond scamming taxpayers...

Internal Revenue Service has called back workers in "mission-critical functions" to the agency offices from Monday. What Happened An internal memo stated that people whose work needs to be done in person would be called back to offices, the Wall Street Journal reported. IRS was...

This Article was originally featured on Stash Invest. We’re all waiting to see what the Trump tax plan will be. In addition to creating a new health care plan for America, President Trump has another item on his agenda: Overhauling taxes. Tax reform is still on the docket as a high-priority...

With President Donald Trump's administration having released its federal budget proposal last week, the rest of the country is similarly occupied arranging their own finances as tax season is now well underway. The Internal Revenue Service may not be prepared for what either the president or...

Officially, Internal Revenue Service Commissioner John Koskinen said the organization was able and willing to enforce the insurance mandate under the Patient Protection and Affordable Care Act, but needs additional funding to better meet its obligations. The likelihood of that additional funding...

On Tuesday, the U.S. Internal Revenue Service issued a notice, informing Americans of the U.S. Federal tax implications of bitcoin transactions. Bitcoin owners and prospective bitcoin owners should take five minutes to read the six-page notice. For the most part, Bitcoin owners were pleasantly...

A taxpayer, already nervous about a questionable deduction as he prepares his tax return, gets a phone call. The caller says he is from the Internal Revenue Service, the taxpayer owes back taxes, and must pay immediately via a pre-paid debit card or wire transfer. The phone call is a scam. The...

The first question college students typically ask is, “Do I even need to file income taxes?” The key word in this question is “income.” As in, did you have any? For starters, if you are a single dependent and your total earned income for the year was less than $6,100, you don’t have to file...

If you or someone you know has student loan debt, it is probably not an insignificant amount of money. According to CNN, the average student loan debt for the class of 2012 was $29,400. That much debt is not good for you – or for the economy. As a result, the U.S. Department of Education and...

With the start of early filing only days away, anyone planning to submit Internal Revenue Service tax returns for the 2013 tax year at the end of this week should be aware of changes in the tax code for this year. According to the IRS, there are several. New Top Rate If you were fortunate...

2014 is here, and with it comes the annual tax filing scramble. The U.S. tax code is so big, archaic and hard to understand that literally hundreds of millions of dollars are spent every year by consumers -- who’d prefer to let a professional handle it for them. There are a number of...

Tax-loss selling is not a phenomenon secluded to the closed-end fund structure of investment vehicles.  However, due to a few CEF specific characteristics, it is the best place for investors to benefit from the historical desire to reduce your current year’s taxes by harvesting...