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The Latest Breaking News from IRS

Supreme Court Declines Case Challenging Excessive IRS Penalties

Should an elderly grandmother be forced to hand over millions of dollars to the government for failing to file a particular form?

Reason

Justice Gorsuch's Dissent from Denial of Review in an Excessive Fines Clause Case

Here's his opinion from today's Toth v. U.S.: In the 1930s, Monica Toth's father fled his home in Germany to escape the swell of violent antisemitism. Eventually, he found his way to South America, where he made a new life with his young family and went on to enjoy a…

Reason

Tax season 2023 gets underway. Your questions answered

IRS starts accepting and processing 2022 returns on Jan. 23, but last-minute filers will have a little extra time.

Fortune

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

Your tax refund will likely be smaller this year. Here are more things to know

The IRS starts accepting tax returns for 2022 on Jan. 23. A financial expert breaks down the changes from last year, and shares her tips for coping with tax season.

WEKU

Cook County Commissioner Sean Morrison took $300K from nonprofit linked to Ken Griffin

Morrison got the money in his tight reelection race from a nonprofit that has financial ties to a PAC funded by the billionaire.

Chicago Sun-Times

The weaponization of the federal government has a long history

Now that House Republicans have created a “Select Subcommittee on Weaponization of the Federal Government,” let’s revisit a classic of that power-abusing genre, featuring its greatest star, Richard M. Nixon.

The Conversation

McCarthy GOP brags brutally fact-checked

McCarthy tried to brag about Republican successes after a disastrous start. It didn't go well

Salon

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Expert on Santos' alleged fake charity

Santos claimed his nonprofit rescued thousands of animals. There's no evidence it ever existed

Salon

Tax season starts next week. Here are 5 ways you can prepare to file

Tax season 2023: Important deadlines, documents, and money-saving strategies—according to experts.

Fortune

Child Tax Credit 2023: Who Qualifies and What It’s Worth

How much will your child tax credit be for 2023?

Kiplinger

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

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

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news in one place.

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The Independent UK

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

Social media users shared a range of false claims this week

Reason

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.

Tribune News Service

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…

Reason

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

The status quo is certainly worth challenging.

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news in one place.

100's of premium titles.
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The Conversation

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 Independent UK

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

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.

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.

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