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The Latest Breaking News from IRS

Campaign 2022 kicks off with ‘camaraderie,’ coffee and catcalls — as candidates line up to get on the ballot

It was the first day of the weeklong period for candidates to file their nominating petitions for federal, state and local offices on the June primary ballot. The Illinois State Board of Elections headquarters didn’t open until 8 a.m. But that didn’t stop candidates and staffers from gathering…

Chicago Sun-Times

Uphill climb seen for employment tax credit in omnibus talks

WASHINGTON — Lawmakers on both sides of the aisle want to restore a pandemic-era tax break for small businesses and nonprofits as part of a massive spending bill taking shape, after Congress stripped the benefit away for the final months of 2021.

Tribune News Service

Uphill climb seen for employment tax credit in omnibus talks - Roll Call

Lawmakers on both sides of the aisle want to restore a pandemic-era employee retention tax break for small businesses and nonprofits.

Roll Call

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Meet the oligarchs: the Russian billionaires whose jets, yachts and mansions are now in the crosshairs

Some of Russia’s super rich are finding their assets in the west under threat of sanctions from the US

The Guardian - US

The IRS dropped ID.me's facial recognition tech after backlash. WA is rolling it out in June

Washington state is getting ready to roll out the ID.me facial recognition system dropped by the IRS last month over privacy and equity concerns.

Tribune News Service

State of the Union address will seek to revive dormant budget reconciliation bill

President Joe Biden will use part of his first State of the Union address Tuesday to revamp his pitch to Congress on passing his stalled social safety net and climate package, focusing on how the budget measure can lower costs for families and reduce the deficit.

Tribune News Service

Poll: 67% expecting tax refunds say the money is important for their finances

As with every year, the start of 2022 brings one of life’s few certainties: tax season. And more than two years into the pandemic, financial hardships mean this year’s filing will be important to millions of Americans.

Tribune News Service

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State of the Union address will seek to revive dormant budget reconciliation bill - Roll Call

President Joe Biden will use part of his first State of the Union address Tuesday to press Congress on his stalled budget package.

Roll Call

Beware: new IRS rules will lead to a wave of phishing frauds

Services like PayPal and Square now need your tax information. Scammers are going to be on the prowl to get it too

The Guardian - US

Seven Reasons to Avoid a Self-Directed IRA

Self-directed IRAs let investors do things they can't in an ordinary IRA, like invest directly in alternative assets. But this opportunity also comes with these risks.

Kiplinger

Desperate for loans, Patrick Daley Thompson put hundreds of thousands in campaign cash in crooked Bridgeport bank

Documents subpoenaed by prosecutors and other public records reflect a growing desperation as he tried to quadruple the amount of money he was borrowing from Washington Federal Bank for Savings.

Chicago Sun-Times

Taxpayers should expect serious delays from the IRS this year – a tax scholar offers tips but says only Congress can fix the underlying problem

No one likes tax season. It’s complicated, it’s stressful, and it’s getting worse.

The Conversation

Checks and Balances: IRS walks back use of facial recognition technology

The Checks and Balances Letter delivers news and information from Ballotpedia’s Administrative State Project, including pivotal actions at the federal and state levels related to the separation of powers, due process, and the rule of law.

Ballotpedia

Michael Hiltzik: Don't blame the IRS for its lousy service. Blame Congress

With tax season already underway — the filing deadline this year is April 18 — complaints about the Internal Revenue Service are already rolling in.

Los Angeles Times

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Tribune News Service

Nondefense squeeze won’t spare IRS in omnibus spending talks

WASHINGTON — The IRS won’t get the appropriations boost for the ongoing fiscal year that Democrats had hoped for, adding emphasis to the party’s push to offer the agency $80 billion in extra funds through their stalled budget reconciliation package.

Reason

Why you should want the IRS to use facial recognition technology

An op-ed from the Washington Post

Roll Call

Nondefense squeeze won't spare IRS in omnibus spending talks - Roll Call

The Internal Revenue Service won’t get the appropriations boost for this year that Democrats had hoped for.

The Hindu

SWTD to launch first solar-powered cruise vessel from Kochi’s Marine Drive in April

‘Solar Cruiser’ will be able to carry a total of 200 guests

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Tribune News Service

Temporada de impuestos 2022: todo lo que debes saber antes de presentar tu declaración y cómo obtener tu reembolso rápidamente

Con la temporada de declaración de impuestos en curso, los expertos le advierten a los contribuyentes que se preparen para otro año de retrasos y complicaciones—subrayando la importancia de presentar la declaración con antelación y preparar la información cuidadosamente.

The Independent UK

Please hold: Pricey way to jump IRS phone line at tax time

At a time when calls to the IRS have reached record levels, a private company lets those who are willing to pay jump to the front of the line to get their phone calls answered

Chicago Sun-Times

Patrick Daley Thompson faced other tax trouble before Monday’s conviction

His guilty verdict for claiming deductions for interest he never paid to a failed Bridgeport bank, Washington Federal Bank for Savings, isn’t the only time he’s had trouble with the IRS.

Tribune News Service

Tax season 2022: Everything to know before you file and how to get your refund fast

With tax-filing season already underway, experts are warning taxpayers to brace for another year of delays and complications — underscoring the importance of filing early and preparing your information carefully.

Benzinga

Is Medical Marijuana Tax Deductible? IRS Official Provides 'More Clarity' After Misstatement

As we all know, the marijuana industry has grown substantially in recent years, with sales expected to hit $25 billion by 2025.

The Independent UK

7 ways small-business owners can save on taxes in 2022

Small-business owners, freelancers and people with side gigs can reduce their tax bills and their anxiety levels this tax-filing season by knowing the taxability rules for Paycheck Protection Program money, taking advantage of new deductions for business meals and mileage and putting money in tax-advantaged retirement accounts designed for self-employed…

Los Angeles Times

Getting paid on Venmo or Cash App? There's a tax for that

If you're a U.S. citizen making money from the sale of goods or services, the IRS considers it taxable income regardless of how or where you're paid. But some sellers have tried to fly under the feds' radar by taking payments through an online app, such as Paypal or Venmo,…

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