Tag Archives: IRS

Jennifer Shutt, Georgia Recorder U.S. House Democrats on Thursday urged the GOP lawmakers running the new Select Subcommittee on the Weaponization of the Federal Government to work with them on genuine oversight investigations that weren’t political or focused on leveling grievances. Maryland Democratic Rep. Jamie Raskin said during the panel’s …

The IRS failed to pursue mandatory audits of Donald Trump on a timely basis during his presidency, a congressional panel found on Tuesday, raising questions about statements by the former president and leading members of his administration who claimed he could not release his tax filings because of the ongoing …

The United States Supreme Court on Tuesday temporarily stopped the Internal Revenue Service from handing over former President Donald Trump’s tax returns to a congressional committee. Chief Justice John Roberts issued an interim stay of a ruling from the U.S. Court of Appeals for the District of Columbia Circuit following …

The Internal Revenue Service (IRS) said Friday it would pay 5 percent interest to people with delayed tax returns starting in July, up a full percentage point from the last interest rate increase in April. The agency will also pay 4 percent interest on delayed corporate tax returns, 5 percent …

On Monday, Tax Day 2022, United States Senator Elizabeth Warren (D-Mass.), a member of the Senate Finance Committee, and Representatives Brad Sherman (D-Calif.) and Katie Porter (D-Calif.), sent a letter to Intuit, the maker of TurboTax, calling out what the lawmakers say are the company’s “unethical use of the revolving …

by Erik Gunn, Wisconsin Examiner April 15, 2022 As midnight approaches on Monday, countless Americans will be ready to finally hit the send button on their computers to get their federal and state tax forms on their way to Uncle Sam. They’ll do that after having spent days pulling together …

The Internal Revenue Service (IRS) is scrapping a plan to require people to verify their identities using facial recognition software to access their information on the agency’s website. The IRS previously announced it planned to implement a new verification process that required taxpayers to upload a photo ID and then …

The Internal Revenue Service (IRS) warned on Monday that staffing shortages would likely delay tax refunds and other services this year as the agency prepares for the 2022 tax filing season. IRS Commissioner Chuck Rettig told reporters that this year’s window for filing tax returns for the year 2021 would run …

The Department of Justice on Friday directed the United States Department of the Treasury to turn over former President Donald Trump’s tax returns to the House Way and Means Committee. “The Chairman of the House Ways and Means Committee has invoked sufficient reasons for requesting the former President’s tax information,” …

More than 30 million American families have received their first monthly child tax credit payment from the U.S. government in an expanded income-support program that President Joe Biden said on Thursday could help end child poverty. At the White House on Thursday, President Biden praised the tax credit as a …

  Chabeli Carrazana Originally published by The 19th In less than a month, most families with kids will be eligible to receive regular payments of up to $300 for each of their children. In the lead-up, the White House and community groups are launching a campaign to raise awareness for …

A report from ProPublica, an investigative newsroom, reveals that the richest 25 people in the United States have a “true tax rate” of almost nothing. The nonprofit organization received IRS data from an unidentified source. “Looks like the biggest tax story of the year, if not the decade,” Gabriel Zucman, …

Monthly payments for the child tax credit will start processing on July 15. About 39 million households will receive automatic payments. The advance child tax credit program is part of the Biden administration’s $1.9 trillion economic aid package called the American Rescue Plan that was passed in March “The American …

The IRS will start issuing extra refund checks on 2020 unemployment benefits later this month. The American Rescue Plan, which President Joe Biden signed into law on March 11, retroactively waived federal taxes on the first $10,200 worth of unemployment aid received per person in 2020. Married taxpayers filing jointly …

The $1.9 trillion American Rescue Plan will lower the average individual tax rate to zero or less for families earning $75,000 or less. According to estimates from the Joint Committee on Taxation, middle-class taxpayers earning $50,000 to $75,000 will have an average tax rate of -1.9%. Low-income families will get …