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The Latest Breaking News from IRS

Here's Why Your Tax Refund Is Probably Going to Be Minuscule

But at least you'll be getting it quicker.

The Street

7 Questions to Ask Your Accountant Before You File Your Taxes

Tax season is heating up and filers need all the help they can get.

The Street

Big Biz wields influence over governors

NGA Chair Phil Murphy represents "the absolute worst of trickle-down economics," expert says

Salon

From analysis to the latest developments in health,
read the most diverse news in one place.

IRS nominee: No audit boost for households under $400,000

President Joe Biden's nominee to lead the Internal Revenue Service says that, if confirmed, he will commit to not increasing tax audits on businesses and households making less than $400,000 per year

The Independent UK

Editorial: Surprise! IRS seeks to boost compliance among tipped workers

It was barely six months ago that congressional Democrats voted to boost IRS funding by $80 billion over the next decade under the guise of beefing up tax enforcement and wringing more money out of billionaires and millionaires. Wage-earners of less means were assured they had little to worry about…

Tribune News Service

IRS nominee faces herculean challenge of modernizing agency

A familiar face is positioned to take on the monumental task of rebuilding the understaffed and underappreciated IRS

The Independent UK

Jonathan Bernstein: Republican plans for oversight are plainly underdone

Republicans held their first hearing last week of the House Select Subcommittee on the Weaponization of the Federal Government. The session told us a lot about how little to expect from the Republican-led 118th Congress.

Tribune News Service

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Commentary: It’s time we make billionaires pay their fair share

A fundamental question in politics is “which side are you on?”

Tribune News Service

Tax season has resumed—and the IRS is warning about more delays and smaller refunds in 2023

The past few years have put the IRS to the test.

Fortune

IRS won't tax most relief payments made by states last year

The IRS says most relief checks issued by states last year won't be subject to federal taxes, providing late guidance as taxpayers have begun filing returns

The Independent UK

The IRS now says most state relief checks last year are not subject to federal taxes

A week after telling payment recipients to delay filing returns, the agency won't challenge the taxability of payments related to general welfare and disaster.

WEKU

How much America's richest people would pay under a billionaire tax is pretty complicated

Elon Musk and Bill Gates could owe billions under the Billionaire Minimum Income Tax. But how that tax would play out depends on several factors.

Fortune

IRS Plans To Raid Workers' Tip Jars

A coming crackdown on $1.6 billion in unreported tips will continue the IRS' long and ugly history of targeting low-income Americans.

Reason

Ideological, regional diversity hallmarks of tax panel's frosh - Roll Call

The new Republicans on the House Ways and Means Committee don't always jibe with their party's mainstream.

Roll Call

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Salon

How the rich skirt century-old tax law

Goldman Sachs has helped billionaires see huge tax savings by selling stocks for a loss and then replacing them

WEKU

If you got inflation relief from your state, the IRS wants you to wait to file taxes

They're dubbed inflation relief payments, but they reflect a hodgepodge of rules and eligibility requirements. The IRS wants time to figure out which rules apply to them.

Fortune

Expert advice on vetting your tax preparer

More than half of all taxpayers rely on a paid tax preparer according to the most recent data.

Motor1

IRS Backtracks, Says Ford Escape And Cadillac Lyriq Are SUVs After All

The government agency has employed some changes in its classification of electrified vehicles on its website.

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news in one place.

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The Independent UK

IRS urges special refund recipients to delay filing taxes

The Internal Revenue Service is recommending that taxpayers hold off on filing their tax returns for 2022 if they received a special tax refund or payment from their state last year

The Street

What Is Taxable Income? Definition & Examples

What Is Taxable Income?An individual's taxable income is the amount of money they've received over the course of a particular tax year in both earned income and unearned income. This number determines their tax liability. What Is Earned Income?Earned taxable income is any income you receive ...

The Street

Here's Why the IRS Is Telling Millions Not to File a Tax Return Yet

"We are working with state tax officials as quickly as possible," the IRS said in a Friday statement.

Fortune

5 side hustles you can do from home that can earn you an extra $20,000 per year

Side hustles can help you explore your hobbies and pad your budget.

The Street

Federal Tax Credit for Residential Solar Energy

The Residential Clean Energy Credit for solar energy upgrades to your home has been extended through 2034 and expanded in value.

The Street

Elon Musk And Tesla Make an Expected But Unwanted Change

The maker of electric vehicles has just raised prices, less than a month after they were cut.

The Street

General Motors Wins a Big EV Battle

The Detroit giant may not have to lower the price of the Cadillac Lyriq, which now is eligible for the new federal tax credit of $7,500.

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