IRS

The Internal Revenue Service is the revenue service of the United States federal government. The government agency is a bureau of the Department of the Treasury, and is under the immediate direction of the Commissioner of Internal Revenue, who is appointed to a five-year term by the President of the United States.

Source: irs.gov

Report: US Government Investigating Citigroup’s Anti-Money Laundering Policies
Report: US Government Investigating Citigroup’s Anti-Money Laundering Policies
November 14, 2024  |  AML

U.S. government agencies are reportedly investigating Citigroup’s anti-money laundering (AML) policies and its ties to a sanctioned Russian official. The Department of Justice (DOJ), the...

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Navigating the IRS’s Dirty Dozen: Protecting The Enterprise From Tax Scams
Navigating the IRS’s Dirty Dozen: Protecting The Enterprise From Tax Scams
September 10, 2024  |  Taxes

As Ben Franklin once said, nothing in life is certain except for death and taxes. And add to that a new pressing issue for businesses:...

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IRS Targets ‘Ghost Preparers’ and Other Emerging Scams Aimed at Taxpayers
IRS Targets ‘Ghost Preparers’ and Other Emerging Scams Aimed at Taxpayers
August 16, 2024  |  Security & Fraud

After a tax filing season that saw a growing number of scams, the IRS and several partners from the private and public sectors said they’re...

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Mind Your B’s and P’s: IRS Notices and Penalties Loom for Unprepared Firms This Fall
Mind Your B’s and P’s: IRS Notices and Penalties Loom for Unprepared Firms This Fall
August 02, 2024  |  Taxes

April has come and gone but a slew of IRS notices loom this fall as companies may be on the hook for erroneously filed returns,...

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Security Summit Alerts Tax Professionals to Growing Threat of Identity Theft
Security Summit Alerts Tax Professionals to Growing Threat of Identity Theft
July 24, 2024  |  Security & Fraud

The Security Summit has issued a stern warning to tax professionals, urging them to heighten their awareness of indicators of identity theft as part of...

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IRS Warns Tax Pros of ‘Barrage’ of Phishing Scams
IRS Warns Tax Pros of ‘Barrage’ of Phishing Scams
July 16, 2024  |  Security & Fraud

The IRS is warning tax professionals of a rise in scams designed to steal taxpayer information. The tax agency and its “Security Summit” partners —...

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As MiCA Goes Live, Is Crypto Entering Its Regulation Era?
As MiCA Goes Live, Is Crypto Entering Its Regulation Era?
July 01, 2024  |  Cryptocurrency

Crypto and Web3 firms have been asking for more regulatory clarity for years. And now, with the news Sunday (June 30) that the European Union’s...

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IRS Finds Most ERC Claims Have Unacceptable Levels of Risk
IRS Finds Most ERC Claims Have Unacceptable Levels of Risk
June 20, 2024  |  Pandenomics

The IRS plans to deny tens of thousands “improper high-risk” Employee Retention Credit (ERC) claims amounting to billions of dollars. This decision follows a review of...

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CFOs Struggle to Manage Complexities of State Tax Filings
CFOs Struggle to Manage Complexities of State Tax Filings
June 05, 2024  |  Taxes

Tax season might be over. But then again, there’s always next year. As Wendy Walker, solution principal at Sovos, told PYMNTS, the complexities of tax...

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