House Speaker Paul Ryan unveiled a long-awaited proposal to repeal Obamacare and replace it by providing tax credits to help people buy insurance, letting them purchase coverage across state lines, and providing $25 billion for state-run high-risk pools to aid people priced out of coverage. READ MORE »
The Electronic Tax Administration Advisory Committee issued its annual report Wednesday, with recommendations calling on the Internal Revenue Service to expand its electronic filing efforts and digital strategy, and to offer end-to-end capabilities on online accounts for both taxpayers and tax professionals. READ MORE »
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Currently designated empowerment zones, areas where employers and other taxpayers can qualify for certain tax incentives, will remain in place at least through the end of this year. READ MORE »
The Internal Revenue Service is missing out on imposing approximately $21.6 million in penalties on taxpayers who are denied entry or withdraw from its Offshore Voluntary Disclosure Program, according to a new report. READ MORE »
Before he became the top U.S. tax collector and the target of an unprecedented Republican-led impeachment drive, John A. Koskinen majored in physics, guided the country through the “Y2K” problem and ran a foundation that promotes youth soccer. READ MORE »
The Internal Revenue Service has issued a notice offering additional transition relief for employers claiming the Work Opportunity Tax Credit. READ MORE »
