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Major tax reform was approved by Congress in the Tax Cuts and Jobs Act (TCJA) on December 22, 2017. The IRS is implementing this major tax legislation that will affect both individuals and businesses. We will provide information and guidance to taxpayers, businesses and the tax community as it becomes available.

Major tax reform was approved by Congress in the Tax Cuts and Jobs Act (TCJA) on December 22, 2017. The IRS is implementing this major tax legislation that will affect both individuals and businesses. We will provide information and guidance to taxpayers, businesses and the tax community as it becomes available.

May 29, 2025 ¡ª The 71st defendant in the Feeding Our Future fraud scheme has been indicted with two counts of wire fraud following her failed attempt to leave the country for Dubai, announced Acting U.S. Attorney Lisa D. Kirkpatrick.

June 23, 2025 ¡ª Abdiaziz Farah, who was convicted of fraud after the first Feeding Our Future trial, has pleaded guilty to his role in providing a cash bribe to a juror in that same trial, announced Acting U.S. Attorney Joseph H. Thompson.

Publication 5411, Retirement Plans Reporting and Disclosure Requirements, was prepared by the IRS as a quick reference tool for certain basic reporting and disclosure requirements for retirement plans under the Internal Revenue Code (IRC) and provisions of the Employee Retirement Income Security Act of 1974 (ERISA) administered by the IRS.

Recently, the Supreme Court ruled that the Professional and Amateur Sports Protection Act was unconstitutional. As a result, each state may decide whether to allow sports wagering. Sports wagering, like wagering in general, is subject to federal excise taxes, regardless of whether the activity is allowed by the state.

May 6, 2025 ¡ª Tou Sue Vang, of Sacramento, was sentenced today to 12 years in prison for his role in transporting thousands of stolen catalytic converters across state lines, laundering money, and other related crimes, Acting U.S. Attorney Michele Beckwith announced.

June 18, 2024 ¡ª A Boston man pleaded guilty today to fraud and false statements charges in connection with a scheme to fraudulently obtain pandemic-related relief funds from the Paycheck Protection Program (PPP) made available under the Coronavirus Aid, Relief, and Economic Security Act.

December 8, 2023 ¡ª An Orange County man was sentenced today to 18 months in federal prison for conspiring to procure and illegally ship high-end computer servers from the United States to Iran, in violation of the International Emergency Powers Act (IEEPA) and U.S. sanctions against Iran.

May 1, 2024 ¡ª A Chicago woman has been sentenced to a year and a half in federal prison for participating in an organized scheme to fraudulently obtain more than $16 million in small business loans and grants under the Coronavirus Aid, Relief, and Economic Security (CARES) Act.