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The Latest Breaking News from IRS

New York's $250 million lawsuit against Donald Trump is the beginning, not end, of this case – a tax lawyer explains what's at stake

New York Attorney General Letitia James hit former president Donald Trump with a US$250 million lawsuit on Sept. 21, 2022, citing “staggering” amounts of falsified business information and fraud.

The Conversation

New York AG refers Trump family to federal prosecutors and IRS

Trump now faces legal peril in at least three distinct cases.

Axios

Educator Expense Deduction for 2024: What to Know

Some educators can deduct out-of-pocket expenses for classroom supplies when they file their federal returns.

Kiplinger

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The morning ritual that keeps our new Life Kit host grounded

Marielle Segarra explains how she starts her day — and shares her favorite Life Kit episodes, life hacks and why she's excited to talk about money and finance on the podcast.

WEKU

Yellen defends IRS cash infusion, plugs customer service plans

WASHINGTON — The IRS will use part of its new $80 billion influx of cash to fully staff in-person help centers, increase phone and online services and assemble a team of experts to guide the agency’s customer service efforts, Treasury Secretary Janet L. Yellen announced Thursday.

Tribune News Service

Biden likely to nominate estate-tax expert as IRS’s top lawyer

President Joe Biden is likely to nominate Beth Kaufman, a partner at the law firm Caplin & Drysdale, to be the top lawyer at the Internal Revenue Service as the White House prepares to overhaul the agency’s leadership, according to people familiar with the matter.

Tribune News Service

Yellen calls for modernized IRS at Maryland field office

Treasury Secretary Janet Yellen is laying out her vision for a modernized, responsive, tech-savvy tax collection agency equipped to manage 21st century challenges

The Independent UK

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Yellen defends IRS cash infusion, plugs customer service plans - Roll Call

The IRS will use part of its new $80 billion influx of cash to fully staff in-person help centers and increase phone and online services.

Roll Call

The IRS is getting a lot more money for audits. Should you be worried?

Did a shiver go down your spine when you heard that Congress is pouring a whopping $80 billion into the Internal Revenue Service over the next 10 years to beef up the nation's tax collection system?

Los Angeles Times

POINT: We should reform, not defund, necessary institutions

Sir Isaac Newton’s Third Law of Motion states that for every action, there is an equal and opposite reaction. While Newton was describing this phenomenon in relation to physics, the basic principle also applies to society in general.

Tribune News Service

Democrats celebrate law aimed at combating inflation amid focus on abortion

Biden and Democrats celebrate "inflation reduction" law as CPI report tanks markets. Meanwhile, GOP proposes national abortion limits.

Roll Call

Uttar Pradesh: IRS officer gets 6 years in jail in 23-yr-old bribery case

LUCKNOW: A special anti-corruption court on Monday sentenced a 1989-batch Indian Revenue Service (IRS) officer and then deputy commissioner, Income tax, Arvind Mishra to six years imprisonment and also imposed a fine of Rs 1.5 lakh on him for accepting a Rs 15,000 bribe, 23 years ago.

The Times of India

Special CBI court awards six-year jail term to IRS officer Arvind Mishra in corruption case

The court also slapped a fine of Rs 1.50 lakh on the officer.

The Hindu

The past, present and future of tipping and tipped workers in Seattle

SEATTLE — Did you know it was once a misdemeanor to leave a tip in Washington state?

Tribune News Service

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WEKU

You may get an IRS refund if you filed your taxes late during the pandemic

The IRS is refunding penalties it charged taxpayers for filing their 2019 and 2020 tax returns late, as a form of COVID-19 relief. The refunds don't apply to penalties for failing to pay your taxes.

The Guardian - US

How did Republican fearmongering about an IRS ‘shadow army’ go mainstream?

The party has embraced a precise brand of anti-government rhetoric, with the agency the latest target – and it’s drawing on an old playbook

Salon

Omar takes aim at "weasel" Ted Cruz

Omar blasts Cruz over GOP plan to kill student debt relief

Miami Herald

DeSantis 2018 campaign got $25,000 from nonprofit secretly funded by FPL cash, records show

MIAMI — In the run-up to the 2018 election, Broken Promises — a mysterious nonprofit group registered to a UPS box in the nation’s capital — gave $25,000 to a political committee called Consumers for Energy Fairness. It was the first donation the committee received that year.

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Chicago Tribune

Salaries for top staffers at Obama Foundation are outpacing their counterparts at other presidential centers

CHICAGO — Even before Barack Obama left the White House, plans to build his presidential center in Jackson Park were met with resistance as nearby residents feared the center’s very existence would drive up costs in an area the former president says he wants to uplift.

Reason

Brickbat: Too Much Information

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…

WEKU

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.

Los Angeles Times

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.

Tribune News Service

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.

Reason

Short Circuit: A Roundup of Recent Federal Court Decisions

Mean teachers, bad warrants, and merest coincidences.

Tribune News Service

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.

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