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The Latest Breaking News from IRS

Don't miss these 3 tax credits when you file this year

Unlike a deduction, which decreases the income on which you’ll be taxed, a tax credit reduces your overall tax due

The Independent UK

Incentives and threats: How to avoid scammers 'phishing' for money, personal information

There are certain rites of passage in life. Milestone birthdays, graduations, marriages or births. And of course, that first email from a Nigerian prince who wants your bank account number to safeguard money with the promise you'll receive a fortune in return.

Tribune News Service

Anti-choice law firm fuels election lies

Catholic-led law firm sowing doubts about election integrity as part of its long-term strategy to battle abortion

Salon

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

Filing a Deceased Person's Final Income Tax Return

Unfortunately, death doesn’t relieve one’s obligation to file a final federal income tax return.

Kiplinger

Christian health nonprofit dupes members

Liberty HealthShare saddled thousands with debt as it built a family empire including pot farm, bank and airline

Salon

‘Crafting an illusion’: US rail firms’ multimillion-dollar PR push

Norfolk Southern, the company behind the Ohio train crash, and other rail firms spent millions on marketing and lobbying

The Guardian - US

Project Veritas fires James O'Keefe

O'Keefe has been forced out of the organization he founded due to alleged financial improprieties

Salon

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Project Veritas fired James O'Keefe over fear of losing its nonprofit status – 5 questions answered

James O'Keefe, the founder of Project Veritas, says he has been fired. He is no longer leading the conservative nonprofit organization, which is known for its use of hidden cameras and false identities to try to catch members of the media and progressive leaders saying embarrassing things and to expose…

The Conversation

School districts face millions in extra costs as Texas program that backs bond debt hits its limit

Without the state’s safety net, districts with pending bond projects must now decide whether to pay more in interest or halt construction.

The Texas Tribune

For donors, wartime Ukraine aid creates blurry ethical line

Since Russia invaded Ukraine a year ago, U.S. companies, nonprofits and individuals have responded with donations, including of equipment like bulletproof vests and drones

The Independent UK

The average tax refund is $300 smaller so far this year

There might also be a delay in receiving your refund.

Fortune

Big Biz wields influence over governors

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

Salon

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

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The Independent UK

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

Tribune News Service

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

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.

Fortune

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.

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The Independent UK

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

WEKU

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.

Fortune

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.

Reason

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.

Roll Call

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.

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.

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