Internal Revenue Service

Days before the 2026 tax filing season opens, Internal Revenue Service chief executive officer Frank Bisignano announced a sweeping leadership shake-up Tuesday, saying the moves are meant to stabilize an agency facing deep staff cuts and complex new tax rules. New Leadership Team Targets Tax Season...

IRS Direct File, the government's free online tax-filing tool launched under the Biden administration, won't be offered next year, even after 296,531 taxpayers used it during the 2025 season, the Trump administration confirmed this week. Republicans Call Direct File Wasteful, Prefer Alternatives...

A House Appropriations subcommittee has passed legislation that would allocate $9.5 billion to the IRS for fiscal year 2026, marking a decrease of more than 20% compared to the agency's current $12.3 billion funding.  The measure, approved by a 9-6 party-line vote in the Financial Services and...

According to CoinLedger CEO David Kemmerer, thousands of U.S. crypto investors have recently received warning letters from the Internal Revenue Service (IRS), marking a significant escalation in the agency's efforts to enforce tax compliance in digital assets. What Happened: In an interview with...

Coinbase Global, Inc. (NASDAQ:COIN), the largest U.S. crypto exchange, asked the U.S. Supreme Court on Wednesday to hear a case that could restrict the IRS's ability to monitor crypto transactions on exchanges and other platforms.  The Details: The case, Harper v. O'Donnell, centers on the IRS...

President Donald Trump plans to appoint Gary Shapley as the acting commissioner of the Internal Revenue Service, according to a report. What Happened: Shapley provided whistleblower testimony to Republicans, claiming partisan bias hindered the investigation of President Joe Biden’s son,...

Acting Internal Revenue Service (IRS) commissioner Melanie Krause plans to resign after being left out of a newly signed agreement to share the tax data of undocumented immigrants with the Department of Homeland Security (DHS), according to sources familiar with the situation. What Happened: The...

The Internal Revenue Service (IRS) has agreed to share certain tax information of undocumented taxpayers with Immigration and Customs Enforcement (ICE). What Happened: The IRS's decision to share tax information with ICE was revealed in a document submitted against the court filing by the...

The U.S. Internal Revenue Service (IRS) is reportedly on the verge of dismissing thousands of employees, a move that could significantly affect the agency’s operations during the crucial tax-filing season. What Happened: The IRS is set to lay off a substantial number of workers,...

President-elect Donald Trump has made tariffs one of the most talked about items ahead of his inauguration on Jan. 20. So far, he has not backed down from plans to place or increase tariffs on various trade partners, including Canada, Mexico and China. What Happened: On Tuesday, Trump took things a...

The Internal Revenue Service (IRS) is warning taxpayers against a new tax-preparer scam involving certain tax credits. “In this latest scam, the IRS is seeing instances where unscrupulous tax return preparers are misrepresenting the rules for claiming clean energy credits under the Inflation...

Editor’s note: This story has been updated with additional information on the Child and Dependent Care Tax Credit. Tax season is right around the corner with eligible Americans able to file their taxes between January and mid-April 2024. The Child Tax Credit may change due to a bill working...

The Internal Revenue Service (IRS) is set to launch a free tax filing pilot program, Direct File, which will be available to some taxpayers starting January 29, 2024. What Happened: The new program, Direct File, will be accessible to federal and state government employees in 12 states with specific...

The Internal Revenue Service (IRS) is girding up for massive furloughs that could hamper important taxpayer services, as the threat of a government shutdown looms large. What Happened: The IRS plans to furlough a sweeping majority of its workforce, around 60,000 employees, if the government shuts...

The Internal Revenue Service (IRS) this month is set to audit 75 major partnerships, including leading hedge funds and real estate companies. The selected entities, which have an average of $10 billion in assets, were identified with the assistance of artificial intelligence (AI) tools, allowing...