Parents who put money into their children’s “Trump Accounts” might face a headache come tax time: Even the smallest contributions may require them to fill out a little-used gift tax form that can take ...

Got a tip on a tax dodger? The IRS Whistleblower Office has updated Form 211, allowing tips to be submitted digitally for the first time—cutting paperwork, reducing errors and speeding up the process.

The IRS has released initial guidance on contributions, limits and withdrawals for the new Trump accounts authorized under the One Big Beautiful Bill Act—as well as how to apply to open one. Trump ...

The longest government shutdown in U.S. history is now over. The backlog of work, however, remains. As the IRS scrambles to get back to business as usual, taxpayers should expect delays. The ...

I may not be the first to tell you, but don’t forget about an additional benefit of the 870-page One Big Beautiful Bill Act passed in July. As prize promotion sponsors and administrators know, an IRS ...

As discussed in our prior blog posting, Canadian companies should be aware that, if they engage in certain “organizational actions” (as discussed below) that affect the tax basis of their securities ...

The Internal Revenue Service continues to seek feedback regarding the draft instructions for Form 6765 and is extending the dates for reporting requirements related to the Credit for Increasing ...

Forbes contributors publish independent expert analyses and insights. Robert W. Wood is a tax lawyer focusing on taxes and litigation. Many people will soon be filing their 2024 tax returns by the ...

IRS is developing a new Schedule 1-A to use to claim new deductions for tip income, overtime pay, car loan interest and new tax break for those 65 an older. IRS and Treasury give new guidance on what ...

The IRS continues to roll out drafts of some 2026 tax forms, including a draft of Form W-9, Request for Taxpayer Identification Number and Certification. Here’s a look at what’s new—and why it matters ...

Holly Paz was among officials scrutinizing tax shelters before she was placed on leave and Fox News reported she had been fired. By Jesse Drucker A top official at the Internal Revenue Service sued ...