Tag Archives: IRS

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 …

President Joe Biden wants employees to receive paid leave for getting vaccinated. “I’m calling on every employer, large and small, in every state to give employees the time off they need with pay to recover if they’re feeling under the weather after the shot,” President Biden said. “No working American should …

After a delay in issuing checks to about 30 million Social Security and other government program recipients, the IRS said it has a date for when they’ll at last receive their $1,400 stimulus payments. The IRS and the U.S. Treasury Department has said that stimulus payments from the $1.9 trillion …

The U.S. Department of Education announced that 72,000 students would have their student loans erased under the Borrower Defense to Repayment program. The relief will go to students who attended for-profit schools and were already approved by the Department of Education for Borrower Defense relief. While the move amounts to roughly …