The IRS Chief Counsel concluded that a taxpayer could not use the acquisition price method to value a platform contribution to a cost-sharing arrangement because the acquisition price did not ...

The U.S. District Court for the District of Columbia held that taxpayers’ racketeering claims against federal tax oversight employees did not present a substantial federal question because they were ...

The IRS provided a revenue procedure establishing the IRA Compliance Resolution System (ICRS), effective May 1, 2027, to allow IRA owners and custodians to correct specified inadvertent failures while ...

The IRS updated the Employee Plans Compliance Resolution System (EPCRS), superseding Rev. Proc. 2021-30, to provide ...

A celebrity doctor and ally of US Health Secretary Robert F. Kennedy Jr. is contesting more than $1.1 million dollars in civil tax fraud penalties and unpaid taxes, according to a petition he filed in ...

The U.S. District Court for the Northern District of California held that a third party’s settlement payment satisfying a taxpayer’s debt was excludable from gross income because the discharge ...

The federal government sued a former Willkie Farr & Gallagher LLP partner and his wife over more than $14.5 million in unpaid federal income taxes, seeking to force the sale of their Dutchess County, ...

Democrats Sure to Pounce on 2% Tax Rate. Financial disclosures from Meta Platforms Inc. reporting a 2% effective tax rate for the first nine months of the year are sure to frustra ...

The IRS issued a news release announcing temporary relief from reporting and recordkeeping requirements associated with tax imposed under I.R.C. §4041(a) on certain taxable uses of dyed diesel fuel.

Meta Platforms, Inc. reported a 2% effective tax rate for the first nine months of the year, reflecting the continuing impact of a big tax benefit the company recorded in April.

The IRS is beefing up its civil and crime unit workforce again after steep losses from Elon Musk’s purge of the federal government.

The IRS issued a news release announcing updated procedures for correcting retirement plan failures and a new correction program for Individual Retirement Accounts. Rev. Proc. 2026-34 expands and ...