Tax professionals who fail to renew their PTINs before December 31 will be unable to prepare federal tax returns for compensation.

If the government shutdown lasts for another week, taxpayers who requested an extension to complete their 2024 tax return by Oct. 15 will likely face issues. Most IRS functions will continue through ...

Under Notice 2025-57, the Treasury and IRS are granting temporary relief for entities required to report car loan interest ...

Taxpayers who buy a new car assembled in the U.S. may be able to deduct up to $10,000 from their taxable income beginning in 2025. To help sort out the details, the IRS is rolling out additional ...

The Internal Revenue Service (IRS) has announced that financial institutions and money transfer companies will not immediately face penalties if they fail to correctly deposit a new federal excise tax ...

Tipped workers will be able to deduct up to $25,000 in tips from their taxable income beginning in 2025. To help sort out the details, the Treasury and the IRS are rolling out additional guidance.

The IRS today issued guidance regarding the “beginning of construction” requirement as it relates to the clean electricity production tax credit (PTC) under Internal Revenue Code Section 45Y and the ...