IRS Commissioner Danny Werfel said he expects the 2025 filing season to build on the success of the two previous seasons if Congress maintains funding.

The proposed regulations apply to catch-up contributions under a 401(k) or similar workplace retirement plan that generally are allowed for workers who have attained age 50.

The final regulations, which the IRS issued Friday, make several changes to the proposed regulations, including a higher dollar threshold for a basis increase in transactions of interest.

In the emergency application filed Tuesday, the Justice Department said beneficial ownership reporting is important in the government’s fight against crimes such as the financing of terrorism.

Blackstone acquires a majority investment made less than three years ago by a fellow private-equity company, the latest in a long line of recent deals involving large accounting firms.

FASB on Monday published an Accounting Standards Update (ASU) that clarifies for non-calendar-year-end entities the interim effective date of ASU No. 2024-03, Income Statement — Reporting ...

The national taxpayer advocate’s first report to the new Congress highlighted the need for money devoted to taxpayer services and technology.

The IRS provided temporary relief that permits eligible taxpayers to use alternative methods to make adequate identification of digital asset units sold, disposed of, or transferred in 2025.

The IRS said Friday that it is providing relief from certain penalties imposed solely for failure of a partnership with unrealized receivables or inventory items to furnish Part IV of Form 8308, ...