The Latest Breaking News from the Internal Revenue Service

IRS and UK Team Up to Fight Tax Evasion — Whistleblowers Could Earn Up to 30% of Recovered Money

The Internal Revenue Service is strengthening its partnership with the United Kingdom’s tax authority to uncover major tax evasion schemes, and people who report wrongdoing could potentially receive substantial financial rewards. In an October 7, 2026, announcement, the IRS highlighted its collaboration with His Majesty’s Revenue and Customs (HMRC), which…

The Free Financial Advisor · Oct 9

Internal Revenue Service issues regulations for Education Freedom Tax Credit

On Oct. 2, the Internal Revenue Service (IRS) issued regulations that determine how the Education Freedom Tax Credit (EFTC) will run and, in turn, how many states participate.

Ballotpedia · Oct 7

Michigan woman accused of hiding $1.66 million after reporting $39,960

A Michigan woman pleaded guilty after prosecutors said she failed to report more than $1.6 million in income from 2021 to 2024, including cash embezzled from her employer and gambling proceeds. The understatement caused a $535,605 tax loss, which she agreed to repay. She also agreed to repay $1.75 million…

The Times of India · Oct 7

IRS Sets December Hearing on Proposed Tax-Exempt Rules for Racial Nondiscrimination at Private Schools

The Internal Revenue Service has scheduled a December public hearing on proposed regulations that would update federal tax-exemption rules governing racial nondiscrimination at private schools.

The Free Financial Advisor · Sep 17

IRS Opens 2027 Corporate Tax Compliance Program — Applications Due October 30

Large corporations interested in resolving federal tax issues with the IRS before filing their returns have a limited window to apply for a program designed to do exactly that. The Internal Revenue Service announced on September 8 that it is accepting applications for the 2027 Compliance Assurance Process, commonly known…

The Free Financial Advisor · Sep 9

IRS Proposes New Eligibility Rules for Refundable Payments From 4 Tax Credits

The Internal Revenue Service and the Department of the Treasury have issued a notice of proposed rulemaking that would classify the refunded portion of certain federal refundable tax credits as a “Federal public benefit” under the Personal Responsibility and Work Opportunity Reconciliation Act of 1996 (PRWORA). The proposal was published…

The Free Financial Advisor · Aug 21

Treasury's New Rule Could Strip Tax Refunds From DACA, TPS Holders and Other Legal Immigrants

A new Treasury and IRS rule would block DACA recipients, TPS holders and other lawful immigrants from refunda,ble tax credit refunds.

Latin Times · Aug 21

IRS Proposes New Funding Rules for Traditional Employer Pension Plans

The Internal Revenue Service has issued a notice of proposed rulemaking that would update the regulations governing how single-employer defined benefit pension plans calculate their...

Saving Advice · Aug 20

IRS Proposes New Restrictions on Refundable Tax Credits for Some Immigrants

The Department of the Treasury and the Internal Revenue Service have issued proposed regulations that would clarify eligibility requirements for the refunded portions of certain individual income tax credits, according to an official IRS announcement designated IR-2026-93.

The Free Financial Advisor · Aug 20

IRS Issues New Guidance on Expanded Paid Family and Medical Leave Tax Credit

The Department of the Treasury and the Internal Revenue Service have issued official guidance on an expanded employer tax credit for paid family and medical leave (PFML), according to an announcement from the two agencies. The guidance, published as Notice 2026-28, addresses changes made under legislation called the Working Families…

The Free Financial Advisor · Aug 10