The IRS delays a tax-reporting rule for peer-to-peer apps. Freelancers are relieved.

Jan 17, 2023
Peer-to-peer apps have become a lifeline for small businesses. But many formerly under-the-table cash transactions now leave a digital trail. 
Small businesses that use peer-to-peer payment services like Cash App or Venmo and take in more than $600 will receive a 1099 form starting next year.
Anna Webber/Getty Images for Afterpay

The IRS aims to improve customer service by hiring 5,000 additional workers

Sep 15, 2022
The agency's budget has been shrinking, its workforce is aging, and it's been saddled with new responsibilities.
Treasury Secretary Janet Yellen tours a new technology workspace at the Internal Revenue Service on Sep. 15. The agency is receiving $80 billion to upgrade technology and hire more staff.
Saul Loeb/AFP via Getty Images

Millions of college students are eligible for tax credits. But they have to file for them.

Apr 14, 2022
Students may be entitled to additional money if they're not claimed as dependents.
Students at the University of California, Berkeley. College students may be entitled to tax benefits and pandemic relief payments.
Justin Sullivan/Getty Images

Tax deadline fast approaching: Is the IRS ready?

Mar 25, 2022
It's still working through backlogs from previous couple of years.
Some people still haven’t gotten their 2020 tax refunds.
Stefani Reynolds/AFP via Getty Images

IRS updates tax brackets in response to inflation

Nov 11, 2021
The IRS adjusted more than 60 tax provisions, including rate schedules, to take rising prices into account.
Following the news of decades-high inflation in the U.S. economy, the IRS released new rates for the standard deduction and tax brackets.
Chip Somodevilla via Getty Images

Study looks at where the IRS audits more and less

Apr 15, 2019
“It is, in a way, a map of poverty in this country,” ProPublica reporter Paul Kiel says.
Scott Olson/Getty Images

For public good, not for profit.

IRS releases final rules on deductions for "pass-through" businesses

Jan 18, 2019
You won't find a lot of simple yes-and-no answers in the 247-page document.
Win McNamee/Getty Images

The IRS brings in private debt collectors

Apr 18, 2017
It’s our duty to inform you that today is tax day. If you have some outstanding debt owed to the Internal Reserve Service, you might have a new kind of debt collector coming after you this year. The IRS is bringing on four private debt-collection agencies to go after certain older tax debts: CBE, ConServe, […]

Need some Econ 101?

Our new Marketplace Crash Course is here to help. Sign-up for free, learn at your own pace.