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 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.
If proposed regulations become final, the withdrawal would let taxpayers treat the January 2025 transaction-of-interest regulations as having never taken effect.
The IRS says a surge in fabricated Form 2439 filings prompted the only new addition to this year’s Dirty Dozen, underscoring how quickly tax schemes evolve.
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India relies on huge quantities of cooking gas that is normally shipped from the Persian Gulf.By Pragati K.B. and Alex Travelli
Shop owners selling boxes of merchandise that correspond to spoonfuls of trinkets are feeding our appetite for nostalgia, A.S.M.R. and dopamine — for $50 a pop.By Jessica Roy
Chocolate makers and fig-paste importers are facing a tangle of unknowns, including whether to seek refunds for tariffs invalidated by the Supreme Court.By Sydney Ember and Ana Swanson
By the president’s own admission, it could be years before the matter is settled, even though the administration previously indicated it would pay.By Tony Romm
Across New York City, restaurateurs and cafe owners weigh logistics and the safety of staff against the demands of customers and a slow winter.By Nikita Richardson
Some companies could decide to temper price increases, but the effect would take time to materialize.By Sydney Ember and Jordyn Holman
The Supreme Court’s ruling against many of President Trump’s tariffs cheered executives who set to work seeking refunds on their duties.By Sydney Ember
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A federal judge has put the brakes on a criminal probe of the Federal Reserve, saying it was part of an improper campaign by the Trump administration to pressure the central bank into cutting interest rates.
Robby the chef has lots of endearing qualities. He can make over 5000 dishes, he’s a consistent cook, and he’s never late for work. But he’s not a human. It is a 750 lb. stainless steel robot. With a rotating wok at its center. It’s a wok-bot.
Mobile homes have long been zoned out of cities and suburbs. But with updated designs and a housing shortage, they're increasingly being welcomed as more-affordable starter homes.
President Trump has touted apprenticeships as part of his promise of a golden era for American workers. But are his administration's investments enough?
A year ago, eggs were scarce and prices were sky-high. But avian flu took a much smaller toll on America's egg-laying chickens this winter than last, and egg prices have tumbled 42%.
It’s Indicators of the Week (now on YouTube!), our weekly look at some of the most fascinating economic numbers from the news.
China's Foreign Ministry criticized the Trump administration's trade investigation as a "pretext" for tariffs. Meanwhile, China is moving ahead with a five-year plan that may rankle trade partners.