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

TaxBandits Launches Feature to Streamline Tax Preparation for US Businesses
TaxBandits Launches Feature to Streamline Tax Preparation for US Businesses
July 06, 2023  |  Taxes

Tax preparation service TaxBandits has rolled out an e-filing solution to streamline tax preparation for businesses in the U.S. The new solution will ensure that...

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Kraken Ordered to Turn Over Crypto Customer Info to IRS
Kraken Ordered to Turn Over Crypto Customer Info to IRS
July 02, 2023  |  Cryptocurrency

A federal judge has ordered cryptocurrency exchange Kraken to release customer information to the IRS. The Internal Revenue Service had asked for information to determine if Kraken’s customers...

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Accenture Wins Spot on IRS Modernization Program
Accenture Wins Spot on IRS Modernization Program
May 24, 2023  |  Taxes

Accenture Federal Services has won a position on an Internal Revenue Service (IRS) blanket purchase agreement with a ceiling value of $2.6 billion. The firm...

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IRS Targets FTX While US Chamber of Commerce Backs Coinbase
IRS Targets FTX While US Chamber of Commerce Backs Coinbase
May 12, 2023  |  Legal

The taxmen are coming for the estate of Sam Bankman-Fried’s bankrupt FTX crypto exchange. And they want the collapsed firm and its affiliates to pay...

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IRS Rule Delay Means P2P, Gig Economy Platform Volumes Will Surge
IRS Rule Delay Means P2P, Gig Economy Platform Volumes Will Surge
January 11, 2023  |  Gig Economy

The new tax rules have been delayed — and nothing’s certain — so P2P will continue to be a gig economy mainstay. And amid the...

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IRS Cultivating Ties With Crypto Companies to Combat Fraud 
IRS Cultivating Ties With Crypto Companies to Combat Fraud 
January 03, 2023  |  Cryptocurrency

The Internal Revenue Service (IRS) is reinforcing its efforts to combat fraud in the cryptocurrency sector. The Wall Street Journal (WSJ) reported Tuesday (Jan. 3)...

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IRS Punts on 1099-K Wage Threshold
IRS Punts on 1099-K Wage Threshold
December 23, 2022  |  Taxes

The Internal Revenue Service (IRS) has delayed implementing a lower threshold for the 1099-K form.  In a Friday (Dec. 23) press release, the agency said that the lower...

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IRS Says US Unemployment Comp Hit $405B During Pandemic
IRS Says US Unemployment Comp Hit $405B During Pandemic
November 20, 2022  |  Economy

Unemployment compensation in the U.S. jumped by 1,794% between 2019 and 2020 as Americans were hit by a wave of layoffs during the COVID-19 pandemic....

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Zelle Says Its Service ‘Not Subject’ to IRS Reporting
Zelle Says Its Service ‘Not Subject’ to IRS Reporting
November 07, 2022  |  Taxes

Gig workers and small business owners are reportedly using the payment service Zelle to avoid declaring taxable earnings to the IRS.  While users of Zelle...

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