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Taxpayer Advocate Collins Optimistic for 2023

Feb 13, 2023 | IRS, Taxes

Despite a significant number of challenges faced by taxpayers in 2022, National Taxpayer Advocate Erin Collins has reason to be more optimistic for 2023. “We have begun to see the light at the end of the tunnel,” Collins wrote in the 2022 annual NTA report...

Treasury Outlines Path to Equitable Clean Energy Economy

Dec 28, 2022 | Taxes

The Department of the Treasury outlined how the Inflation Reduction Act’s tax incentives will support the building of an equitable clean energy economy. In a fact sheet issued October 26, 2022, the Treasury Department highlighted four key areas the tax policy built on...

Tax Gap Reaches Nearly $500 Billion, IRS Reports

Dec 28, 2022 | Taxes

The Internal Revenue Service is estimating the tax gap on tax years 2014-2016 to be $496 billion, an increase of more than $58 billion from the prior estimate. “The increase in the tax gap estimates reflects that the IRS needs to do more, both in improving...