Consistent with applicable law and longstanding practice, the Secretary of the Treasury oversees the operations of all Treasury offices and bureaus, including the Internal Revenue Service. Secretary Scott Bessent’s service as Acting Commissioner of the IRS under the Federal Vacancies Reform Act has expired, and he has not served in that capacity since that time.
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The Internal Revenue Service recently unveiled enhancements to the IRS Tax Withholding Estimator to reflect changes to credits and deductions under the One, Big, Beautiful Bill, including no tax on tips, no tax on overtime, and other tax benefits.
The Department of the Treasury and the Internal Revenue Service today issued proposed regulations providing guidance regarding the pilot program for Trump Accounts, which are a new type of individual retirement account for eligible children.
The Internal Revenue Service today announced that it is extending weekly office hours at more than 200 Taxpayer Assistance Centers nationwide to provide taxpayers with additional time to receive in-person assistance during the filing season.
The Internal Revenue Service today announced that registration is now open for the 2026 IRS Nationwide Tax Forum, the agency’s largest annual outreach event designed specifically for the tax professional community.
The Department of the Treasury and the Internal Revenue Service today issued proposed regulations providing general requirements for Trump Accounts, certain definitions relating to Trump Accounts, election rules to open an initial Trump Account by an authorized individual for an eligible individual, and rules for who is the responsible party for the initial Trump Account once the account has been opened.
The Department of the Treasury and the Internal Revenue Service today issued proposed regulations to make it easier for digital asset brokers to provide statements electronically to customers, rather than sending paper copies.
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The relief allows taxpayers to use alternative methods to make adequate identification of digital asset units that are sold, disposed of, or transferred during the relief period.
The report highlights the activities of the group charged with working with FASB to improve the process of setting accounting standards for private companies.
The AICPA Professional Ethics Executive Committee seeks comment on a revised definition to gather input on whether the definition appropriately reflects the roles that should be excluded from an attest engagement team. The comment deadline is June 1.
The recommendations include allowing taxpayers to rely on substitute reasonable cause when appropriate, permitting them to reserve the automatic first-time abatement for future use.
The AICPA and the National Association of State Boards of Accountancy are among the group of entities reaffirming a smooth path for accounting professionals to practice across North American borders.
Schellman’s investment from Goldman Sachs, a transaction expected to close in the second quarter of this year, comes after its initial private-equity deal with Lightyear Capital in 2021.
Proposed regulations under Sec. 530A provide information on how to open initial Trump accounts, and proposed regulations under Sec. 6434 provide guidance on the program that provides $1,000 contributions to Trump accounts for eligible children.
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The Equal Employment Opportunity Commission says Planned Parenthood of Illinois will pay $500,000 to end an investigation that found the organization's DEI practices violated federal civil rights laws
Taxpayers who purchased a new vehicle in 2025 may qualify for a new deduction on their taxes — even if they're not itemizing. But not everyone is eligible.
The risky lending business has been booming, but now its problems are becoming increasingly visible on Wall Street and beyond.
The Trump administration says it is seeking a huge budget to refill and expand its munitions.
Iran is using an affordable strategy to even the playing field in the war with the U.S. It’s using drones that cost in the thousands of dollars to combat American missiles that cost several million. Military analysts have already signaled concern about the U.S. producing enough munitions, and this isn’t helping. Today on the show, why the U.S. spends so much on munitions and what it’s learning from Iran.
The Jones Act restricts which ships can carry goods between U.S. ports. Experts say temporarily lifting the act will do little to affect gas prices.
The Federal Reserve held its benchmark interest rate steady as it faces inflationary pressure from the war with Iran — and a weakening labor market.