Disclosure is a type of extra explanation. You are required to disclose enough detail to tell the IRS what you are doing. But ...

The recommendations, sent Tuesday in a letter to Treasury and the IRS, include that the IRS expressly allow taxpayers to rely on proposed regulations until they are final.

It would be very difficult for the SEC to take over the board’s inspection duties if the measure were to pass, said former ...

On April 17, 2025, the IRS issued Notice 2025-23, which announced its intent to publish a notice of proposed rulemaking to remove Treasury ...

Confused about PFIC rules for Indian NRIs in USA? Learn how PFIC affects your Indian mutual funds, tax filing, and smart ...

Included in a recent amendment were a few IRS-specific provisions, including eliminating Direct File, increasing the ...

Sebi on Wednesday revised the disclosure requirements for Real Estate Investment Trusts and Infrastructure Investment Trusts, revising norms related to financial information in offer documents and ...

The IRS lost 11% of its staff through voluntary separations and terminations in the first three months of 2025, and the largest percentage of those who left were revenue agents who conduct audits, a ...

As Olson put it at an April 15 Tax Policy Center event, cutting too many people at the IRS who can help filers address audit and collections issues “makes it more likely the machines are going ...

Proper documentation not only ensures compliance but also provides evidence in case of an audit. The IRS has identified certain ... negligence or disregard of rules. This includes substantial ...

For most Americans, the staffing cuts will not affect the way the IRS audits their tax returns. The reason is that audits are computerized for those with simple financial situations, i.e. the ...