Transitional Guidance on Broker Digital Asset Reporting Provided, Announcement 2023-2
The Treasury Department and IRS have announced that brokers are not required to report additional information with respect to dispositions […]
Read MoreThe IRS-Criminal Investigation (IRS-CI) has released its Fiscal Year 2021 Annual Report. The report details statistics, important partnerships and significant criminal enforcement actions from IRS-CI, the criminal investigative arm of the IRS, for the past fiscal year, which began Oct. 1, 2020 and ended Sept. 30, 2021. Over 2,500 criminal investigations, the identification of more than $10 billion from tax fraud and financial crimes, and a nearly 90% conviction rate are just a few highlights of the report.
In fiscal year 2021, IRS-CI built upon its existing network of U.S. field offices and international attachés to combat financial crimes across the globe. The agency’s alliance with the Joint Chiefs of Global Tax Enforcement (J5) helped strengthen public-private partnerships with financial institutions and the Fin-Tech industry to deter and identify criminal activity. Additionally, IRS-CI established its first cyber attaché in The Hague, Netherlands, to proactively support cyber investigative needs in coordination with Europol. Numerous IRS-CI investigations resulted in individuals being sentenced for fraudulently obtaining small business relief loans under the CARES Act. Moreover, the report includes additional case examples for each field office an overview of IRS-CI’s international footprint, details about the specialized services provided by IRS-CI and investigative statistics, broken down by discipline, for fiscal year 2021.
The Treasury Department and IRS have announced that brokers are not required to report additional information with respect to dispositions […]
Read MoreThe IRS recently completed the final corrections of tax year 2020 accounts for taxpayers who overpaid their taxes on unemployment compensation received in 2020. […]
Read MoreThe Florida Department of Revenue has issued additional guidance regarding property tax relief for residential properties rendered uninhabitable for 30 […]
Read MoreThe IRS has released frequently asked questions (FAQs) about energy efficient home improvements and residential clean energy property credits. The […]
Read MoreThe Internal Revenue Service and the U.S. Department of Labor announced they have renewed a memorandum of understanding (MOU) under […]
Read MoreThe passage of the Inflation Reduction Act in 2022 has triggered changes to many tax forms, tax form instructions, and […]
Read MoreThe IRS reminded taxpayers who earn wages to use the Tax Withholding Estimator tool to adjust their 2023 withholding. Checking now and […]
Read MoreThe IRS released the optional standard mileage rates for 2023. Most taxpayers may use these rates to compute deductible costs […]
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