Taxes

Former IRS Commissioner Fred Goldberg, now with Skadden, Arps, Slate, Meagher & Flom LLP, shares his thoughts on the IRS’s strategies and proposals outlined in the recently released spending plan for the $80 billion the agency was granted by the Inflation Reduction Act. This transcript has been edited for length and clarity. David D. Stewart:

If you plan to file your federal income tax return today, you’re not late—yet. If your return is in good shape, you still have time to submit it by the deadline. Extension If you’ve clicked over hoping that I’ll offer you the tax prep equivalent of magic beans, I’ll stop you right now—that doesn’t exist.

I kept my swearing to a minimum this tax season. Honestly, that says more about IRS than it does about me. It felt like a different tax season. Last year, the IRS marked a dismal 15% Level of Service to taxpayers. The “Level of Service” is the number you get when you divide the number

Does naming and shaming tax debtors and tax defaulters violate their human rights? Particularly their human right to privacy? From the perspective of several tax authorities around the world, the answer is no. Their common argument is that taxpaying is a public activity, and debtors and defaulters who shirk their public duty should not be

With the release of the IRS’ strategic operating plan (you can read about it here), there has been a lot of conversation about enforcement. Specifically, there are worries that the IRS will use extra funding from Congress to target working families and small businesses making under $400,000—a charge that both Treasury Secretary Yellen and IRS

Every now and again, a case comes across your desk that makes you say, “Whoa.” Alon Farhy v. Commissioner is just such a case. The U.S. Tax Court gave Farhy a win, ruling that the IRS could not collect from him in this instance—the IRS had no statutory authority to assess penalties under section 6038.

Today’s Social Security column addresses questions about whether people living outside the US can still collect their Social Security benefits, how payments are made when eligible for two benefits at once and survivor’s benefits before retirement benefits. Larry Kotlikoff is a Professor of Economics at Boston University and the founder and president of Economic Security

Tax Day is just around the corner. The Tax Deadline to file your 2022 taxes is April 18, 2023. If you cannot complete your taxes by the tax filing deadline, you can request an automatic six-month extension to file your taxes. If you were wondering, the deadline to apply for a tax extension also falls

Commonly, a businesses’ main concern is filing its tax returns. Although this makes sense, it is not wise, business owners must implement systems now for certain deductions and credits they plan to take in the future. To assist taxpayers, Congress offers incentives through deductions and credits. A deduction is an amount that you deduct from

Still haven’t filed your taxes? There are certainly better ways to spend a weekend but if your weekend plans include tackling your annual Form 1040 and you missed Tuesday’s “Ask Me Anything” session, keep reading for a recap of some of the questions and answers and more information for last-minute filers. Do I Need To