Erin Slowey

A federal judge Wednesday struck down an IRS regulation that was meant to clamp down on microcaptive insurance transactions that the agency sees as abusive.

President Donald Trump and the IRS are still hashing out a settlement in a $10 billion lawsuit against the agency after the president’s data was part of historic leak of billionaires’ tax information.

Tens of millions of taxpayers are running out of time to claim a refund or for the chance to reduce penalties for late filing from the Covid-19 era, the National Taxpayer Advocate said in a new blog post Thursday.

Guy Ficco, the ex-chief of the IRS crime unit, is joining Kostelanetz LLP as a senior investigator, the firm announced Friday.

The IRS found 13 cases where it wasn’t following rules for approving penalties in the wake of the agency’s settlement over a multimillion-dollar penalty with a conservation easement donor, a watchdog said in a report released Tuesday.

The IRS is struggling to spot incorrect tax returns among noncitizens that claim a refundable tax credit meant to benefit low-income taxpayers, a watchdog said.

Potentially billions of dollars are at stake if tens of millions of Americans claim pandemic-era refunds after a recent court ruling, the National Taxpayer Advocate Erin Collins said.

The IRS and Justice Department are appealing a judgment to avoid potentially paying out billions of dollars in refunds to Americans who filed late or paid interest to the IRS during the Covid-19 pandemic.

Six years after the Covid-19 pandemic began, questions over the postponement of tax filing and payment deadlines remain unresolved as the Trump administration appeals a lower court decision with potentially billions of dollars in refund claims on the line.

The IRS’s goal to modernize how the agency handles paper hinges on its funding, staffing, and contractors—challenges the agency has yet to overcome, the agency watchdog said.