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The Latest Breaking News from IRS

Allegations that the charity George Santos claims to have run was fake highlight how scams divert money from worthy causes

Rep. George Santos, the New York Republican whose 2022 election to the House of Representatives flipped a seat previously held by a Democrat, faces pressure to resign for having reportedly lied extensively about his education, employment history and religious heritage. He also faces allegations that he may have participated in…

The Conversation

Biden condemns ‘fiscally demented’ congressional Republicans for IRS and tax agenda

President asks ‘what in God’s name is that all about?’ as the new House GOP majority outlines its priorities

The Independent UK

How McCarthy’s speaker deals will cause ‘cannibalistic brawl among extremists’

The deals struck between Kevin McCarthy and the far-right House Freedom Caucus will give the most conservative figures considerable power

The Guardian - US

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

Heirs of Subway’s billionaire founders could become some of America’s richest people overnight in a $10 billion sale deal

Subway has been owned by its two founding families for more than five decades.

Fortune

NOT REAL NEWS: A look at what didn't happen this week

Social media users shared a range of false claims this week

The Independent UK

Whatever the Fate of the Fair Tax Act, Congress Should Still Abolish the IRS

Getting rid of the much-despised tax agency would be a good idea. It’s unlikely to happen anytime soon.

Reason

Biden Slams House Republican Bill to Abolish IRS: 'Flat Veto'

The President weighs in on a proposal to do away with the Internal Revenue Service, and he does not mince words.

The Street

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Republicans Want to Abolish the IRS; How That Would Hit Your Wallet

No IRS would not mean no taxes and the rich might actually end up paying more.

The Street

Alexis Leondis: The IRS needs billions to make trillions

Regardless of how you feel about the Internal Revenue Service — it’s dysfunctional, it’s underfunded, or both — there’s a basic point that’s hard to refute: The current system to ferret out wrongdoers is terrible. And in a move that will only make it worse, House Republicans voted Monday to…

Tribune News Service

House Republicans Want a Vote On the FairTax. Is It Worth Supporting?

The status quo is certainly worth challenging.

Reason

Residential school system recognized as genocide in Canada's House of Commons: A harbinger of change

In a historic move, Canada’s House of Commons unanimously recognized the Indian Residential School System (IRS) as genocide on Oct. 27, 2022.

The Conversation

IRS Changes in Play for 2022 Tax Season

In some ways, the pandemic relief party is over for some taxpayers.

The Street

This Is What Actually Happens When You Win the Lottery

Mega Millions lottery players need to get ready because the jackpot just rose to $1.35 billion.

The Street

Watchdog sees 'light at the end of the tunnel' for the IRS

The IRS is beginning to see “a light at the end of the tunnel” of its customer service struggles, thanks to tens of billions of new money from the Democrats’ climate and health law and the authority to hire more people

The Independent UK

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Salon

GOP's top agenda: Protecting Trump

Yeah, the GOP is coming for Biden, but the new House majority's No. 1 job is shielding Trump from accountability

Los Angeles Times

Commentary: House Republicans’ first order of business? Balloon the $31 trillion national debt

Republicans have long claimed they are dedicated deficit hawks, blaming Democrats for growing deficits and debt. But two votes they cast after electing Kevin McCarthy as House speaker prove that Republicans are charlatans when it comes to deficit reduction.

Salon

How Congress cracked down on tax scam

New law shuts down “syndicated conservation easements” that exploit charitable tax break meant to preserve lands

Los Angeles Times

IRS gives drenched Californians an extra month to file tax returns

The Internal Revenue Service offered a lifeboat of sorts Tuesday to California residents and businesses floundering in the atmospheric river: More time to pay their income taxes.

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Al Jazeera

US House Republicans get to work, but Democrats raise concerns

The lower chamber of US Congress has approved a new rules package that includes concessions to far-right lawmakers.

Fortune

Don't tell friends or family if you win $1.1 billion Mega Millions jackpot, experts advise

The temptation to throw a lavish part to celebrate will be strong—but keep it quiet, financial gurus say.

Reason

House Republicans To Probe White House Pressure on Social Media Companies

Plus: House votes to rescind IRS funding, the FDA is putting unnecessary strings on pharmacies filling abortion pill prescriptions, and more...

Tribune News Service

In first act, GOP-controlled House takes aim at IRS funding

WASHINGTON — The new Republican-controlled House passed a bill to claw back $71.5 billion in funding for the IRS that was part of Democrats’ climate, tax and health care reconciliation law last year.

Roll Call

In first act, GOP-controlled House takes aim at IRS funding - Roll Call

The new Republican-controlled House passed a bill to claw back funding for the IRS that was part of Democrats’ reconciliation law last year.

Tribune News Service

Editorial: IRS gets financial windfall, but keeps same old stripes

Congressional Democrats last year showered the IRS with $80 billion in new funding in an effort to close an estimated $600 billion “tax gap,” the difference between income taxes actually owed and those actually collected. This was supposed to help pay for the Biden administration’s ongoing spendapalooza that has run…

Axios

House Republicans pass bill to slash IRS funding in first act of new Congress

The bill is unlikely to pass the Democratic-led Senate.

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