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IRS announces pension and retirement plan contribution adjustments for 2025
The IRS has announced an increase to the amount individuals can contribute to their 401(k) plans in 2025, to $23,500, up from $23,000 in 2024.
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IRS says ‘vast majority' of 1 million pandemic-era credit claims show a risk of being improper
The Internal Revenue Service said Thursday a review of 1 million claims for the Employee Retention Credit representing $86 billion shows the “vast majority” are at risk of being improper.
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IRS to collect over $500 billion more from tax cheaters thanks to new funding, agency says
The IRS is poised to take in hundreds of billions of dollars more in overdue and unpaid taxes than previously anticipated, according to new analysis released Tuesday by the Treasury Department and the IRS.
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IRS says it collected $360 million more from rich tax cheats as its funding is threatened yet again
The IRS says it has collected an additional $360 million in overdue taxes from delinquent millionaires.
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IRS to send taxpayers a ‘special reminder letter' about debt. Who may get one and what to expect
Starting next month, the IRS will resume automated collection notices and some taxpayers will receive a “special reminder letter.” Here’s what to know.
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IRS halts processing of pandemic-era tax credit amid fraudulent claims surge
A growing number of questionable claims are coming from small businesses who may or may not be aware that they aren’t eligible.
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The IRS plans to crack down on 1,600 millionaires to collect millions of dollars in back taxes
The IRS is launching an effort to crack down on 1,600 millionaires and 75 large business partnerships that owe hundreds of millions of dollars in past due taxes.
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IRS unveils ‘paperless processing initiative' for taxpayers. Here's what to expect
The IRS will offer digital correspondence for the 2024 season and aims to provide “paperless processing” for tax returns in 2025. Here’s what to know.
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