IRS Highlights New Business Tax Account Features, FS-2024-27
The IRS announced that it is continuing to expand the features within Business Tax Account (BTA), an online self-service tool […]
Read MoreThe IRS Whistleblower Office has recognized the contributions of whistleblowers on the occasion of National Whistleblower Appreciation Day, which falls on July 30. Since its inception in 2007, the office has awarded over $1.2 billion to whistleblowers, leading to the recovery of $7 billion from non-compliant taxpayers. The Whistleblower Office, under the leadership of Director John Hinman, aims to enhance its program by improving the processing of high-value information, ensuring fair and timely awards, and maintaining transparency with whistleblowers. Fiscal Year 2023 saw the office pay out $88.8 million in awards, based on the collection of $338 million in taxes and other amounts. The number of award claims increased by 44% compared to the average of the prior four years. The office has also updated Form 211 and is developing a digital submission portal expected to launch in 2025. Whistleblower information has proven to be a vital component of effective tax administration, helping to identify non-compliance and reduce the tax gap. The awards typically range between 15 and 30% of the proceeds collected due to the whistleblower’s information. National Whistleblower Appreciation Day marks the anniversary of America’s first whistleblower law, enacted on July 30, 1778.
The IRS announced that it is continuing to expand the features within Business Tax Account (BTA), an online self-service tool […]
Read MoreThe IRS has issued a series of questions and answers for 401(k) and similar retirement plans that provide, or wish […]
Read MoreThe IRS Whistleblower Office has recognized the contributions of whistleblowers on the occasion of National Whistleblower Appreciation Day, which falls on July […]
Read MoreThe floating interest rate applicable to taxes administered by the Florida Department of Revenue on underpayments (deficiencies) and late payments […]
Read MoreThe IRS has issued a reminder that summer day camp expenses may be eligible for the Child and Dependent Care tax […]
Read MoreThe IRS has updated frequently asked questions (FAQs) to provide guidance related to the critical mineral and battery component requirements […]
Read MoreThe IRS has warned taxpayers not to fall for scams centered around the Fuel Tax Credit, the Sick and Family […]
Read MoreThe IRS has issued a cautionary alert to taxpayers about a new scam exploiting clean energy tax credits. This emerging […]
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