Irs, Taxes | featured news

U.S. has been seeking data on depositors suspected of using UBS bank accounts to hide cash from IRS.

The chairman of the U.S. Senate Finance Committee plans to introduce legislation to give U.S. tax collectors more tools to police offshore tax evasion, an aide to the senator said on Wednesday.

Some taxpayers -- and even some in the IRS -- resent what appears to be a double standard that favors powerful people like Cabinet nominees.

The Treasury secretary, who oversees the IRS, initially didn't pay all his taxes. Neither did five other top nominees for the Obama administration or their spouses.

If the IRS cuts you a check, a vacation may suddenly seem doable. Get inspired by our seven fully itemized, long-weekend itineraries, starting at $895 for a family's complete expenses. That's far less than the average tax refund of about $2,700.

The agency has drafted a plan that significantly lowers a penalty that applies to wealthy Americans who hide money overseas in secret accounts.