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The Latest Breaking News from IRS

The Internal Revenue Service posted to its website confidential information for 120,000 taxpayers with retirement accounts invested in assets like master limited partnerships and real-estate investment trusts. Those taxpayers, as well as tax-exempt nonprofits, must file 990-T forms. Only the information for the nonprofits was supposed to be posted. IRS…

Reason

The IRS says it mistakenly made public data for about 120,000 taxpayers

The data — which included individual names and business contact information — was public on the IRS.gov website for about a year until an employee noticed the mistake recently.

WEKU

Jackie Calmes: No, Tucker Carlson, armed IRS agents won't be coming for Amercans' money

My dad was an armed IRS agent, gun-toting for good reason. He helped bust mob figures across northern Ohio for tax evasion, from Toledo to Youngstown. He died too young (of natural causes), and his public service is among my best memories.

Los Angeles Times

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IRS mistakenly published some taxpayers’ confidential data

WASHINGTON — The Internal Revenue Service mistakenly published confidential data for 120,000 taxpayers on its website before realizing the error and taking down the data, the Treasury Department said.

Tribune News Service

Short Circuit: A Roundup of Recent Federal Court Decisions

Mean teachers, bad warrants, and merest coincidences.

Reason

Editorial: The troubled North Carolina NAACP should explain and regroup. The state needs its advocacy

The NAACP has a proud history of overcoming racial barriers, but now its North Carolina conference is being stymied by internal obstacles.

Tribune News Service

Artificial Intelligence Helps French Tax Authorities Find Thousands of Untaxed Swimming Pools

When taxing authorities get more resources and power, they will find ways to make everyone pay more.

Reason

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Experts say a Trump-backed charity is pushing the boundaries of tax law

An NPR investigation has raised questions about whether the nonprofit Conservative Partnership Institute may be violating a legal ban on participating in political campaign activities.

WEKU

NC NAACP loses tax-exempt status; audit assessing misspending allegations

For decades, the public face of North Carolina’s NAACP has been an energetic organization unbending in its fight against injustice.

Tribune News Service

This Grandmother Didn't Submit the Proper Banking Form. Now the IRS Wants $2.1 Million From Her.

She’s asking the Supreme Court to consider whether this seizure is an excessive fine under the Eighth Amendment.

Reason

Fact check: Will middle-class taxpayers really face an ‘army’ of IRS agents?

WASHINGTON — Look out, warn the Republicans. The Internal Revenue Service is about to unleash an army of agents eager to audit you and cost you a lot of money and aggravation.

McClatchy Washington Bureau

The "Inflation Reduction Act" Doesn't Address Inflation Causes At All - Opting Out To Bitcoin Is The Only Way

Does opting out of fiat by replacing it with Bitcoin offer a viable alternative?

Benzinga

Donor coaches GOP to lie about tax hike

Steve Wynn urged Republicans to falsely tell workers "they're coming for you"

Salon

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

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The Conversation

Child poverty estimates point to a record low in 2021 – here's how it could have been even lower

The U.S. government will likely report in September 2022 that for 2021 its most accurate measure of child poverty was the lowest on record. This was due, in large part, to generous government benefits. Our research suggests child poverty in 2021 would have been even lower had the government made…

USAFacts

What are capital gains? How are they taxed?

About two-thirds of individual capital gains subject to tax are from selling corporate stock; the remainder is from property sales.

Tribune News Service

IRS will refund penalties to California taxpayers who filed late in early COVID years

Californians who paid their 2019 or 2020 income taxes late could be getting refunds on the amounts they paid in penalties, the Internal Revenue Service said Wednesday.

The Independent UK

IRS initiates safety probe after threats to workers

The Internal Revenue Service says it is conducting a comprehensive review of safety at its facilities

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The Guardian - US

IRS to review security at facilities as threats from extremists increase

The security assessment will be first of its kind since the 1995 Oklahoma City Bombing following far-right chatter online

The Independent UK

IRS launches security review following GOP conspiracy theories about armed agents targeting Americans

Experts say that Republican claims about the service have put its agents in danger

Chicago Tribune

‘We feared for our lives’: Mother of alleged victim testifies in R. Kelly trial

CHICAGO — A mother whose young daughter was allegedly sexually assaulted by R. Kelly on videotape in the 1990s testified Monday that Kelly threatened them and sent them out of town after the allegations of abuse first surfaced more than 20 years ago.

Chicago Tribune

Jurors in R. Kelly trial see evidence of alleged payoffs for cover-up scheme

CHICAGO — An IRS agent on Monday spent nearly three hours walking jurors in R. Kelly’s federal trial through a network of payments made by the R&B superstar’s various companies as part of an alleged scheme to cover up the sexual abuse of minors.

Kiplinger

Are 87,000 New IRS Agents Coming for Your Tax Dollars?

Billions in funding for the IRS has some people worrying about IRS agents and audits.

Tribune News Service

Clive Crook: Want a better IRS? Simplify the tax code

One of the most conspicuous parts of the tax-and-spending package known as the Inflation Reduction Act is vastly expanded funding for the Internal Revenue Service. The promised flood of cash — an additional $80 billion over 10 years, compared with baseline annual spending of around $15 billion — raises some…

Salon

Treasury Dept. debunks armed agent rumor

"Deeply dangerous nonsense," says representatives regarding the rumor

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