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Senators Demand IRS Action on AI-Generated Tax Scams
Taxation
A bipartisan group of senators has asked IRS Commissioner Daniel Werfel to take steps to foil tax scams generated by AI…
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Crypto Holder Challenges IRS 'John Doe' Summons
Taxation
A Coinbase client is challenging the IRS’s actions in seizing his financial records from that cryptocurrency exchange…
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With Tax Revenues Lower Than Expected, Debt Ceiling Default Date Could Come as Early as June
Taxation
The United States has already hit its $31.4 trillion debt limit, but accounting maneuvers have allowed the country to…
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IRS Commissioner Defends Agency’s Budget in Congressional Hearing
Taxation
IRS Commissioner Daniel Werfel defended his agency’s budget in testimony before the U.S. House of Representatives’…
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TIGTA Faults IRS for Unauthorized Technology Purchases
Taxation
The IRS purchased approximately $1.2 million in information technology (IT) products initiated by business units outside of…
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IRS Revises Guidance on Bitcoin, in Light of Its Use As Legal Tender in Some Nations
Taxation
The IRS has slightly revised its 2014 guidance on the treatment of virtual currency in recognition of the fact that certain…
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High Court Considering Case on Whether IRS Can Secretly Obtain Bank Records of Taxpayer's Relatives
Taxation
The U.S. Supreme Court recently heard arguments in the case of Polselli v. IRS, and the ruling will determine the limits of…
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AICPA Seeks Clarity from IRS About Tax Treatment of Crypto Losses
Taxation
In a letter to IRS Commissioner Daniel Werfel and Principal Deputy Chief Counsel William Paul, the AICPA has asked…
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Proposed Bill Would Allow Many More Performing Artists to Deduct Work-Related Expenses
Taxation
A bipartisan piece of legislation, introduced in the House of Representatives on Wednesday, would enable more performing…
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