In its new report, the IRS estimates that: The gross tax gap was $708 billion for 2021 and $696 billion in 2022; after ...

A field operations unit, announced last fall, has started work in the Internal Revenue Service's Large Business and ...

Treasury Secretary Janet Yellen touted increased enforcement of tax laws by the IRS as helping to close the budget deficit by ...

While the top tax rate of 37 percent remains unchanged, it will now apply to individuals earning more than $626,350 for ...

The IRS’s Revenue Procedure 2024-40 outlines crucial adjustments for tax year 2025, including updated tax brackets.

The IRS released its inflation adjustments to income thresholds for tax brackets as well as deductions, credits and other ...

CHIPS ITC offers businesses a tax credit equivalent to 25 percent of the basis of property qualified as an advanced ...

When filing taxes next year on 2024 income, the standard deduction will increase for married couples and for single taxpayers ...

For 2025 tax returns, the standard deduction will increase by $400 from 2024 for single taxpayers and some who are married ...

Partnering with software firm UiPath, the agency has tapped software robots to complete previously manual tasks, IRS CFO Teresa Hunter said Tuesday.

The federal tax agency's latest update includes items on standard deductions, clarity on marginal tax rates, and the ...

IRS officials were concerned Economic Impact Payments that included Trump's name could have breached federal law.