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The Latest Breaking News from IRS

Winners and losers in Democrats’ signature tax and energy bill

WASHINGTON — President Joe Biden and Senate Majority Leader Chuck Schumer are the biggest winners now that a huge piece of Democrats’ economic agenda is hurtling toward enactment.

Tribune News Service

Sweeping budget package passes Senate; House will take up measure Friday

WASHINGTON — After a year of negotiations, impasses and political maneuvering, the Senate passed Democrats’ top domestic priority: an economic package that would pump hundreds of billions of dollars into clean energy programs, raise taxes on corporations and lower health care costs.

Tribune News Service

Senate Democrats approve big Biden deal; House to vote next

The estimated $740 billion package heads next to the House, where lawmakers are poised to deliver on Biden’s priorities.

Chicago Sun-Times

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Sweeping budget package passes Senate; House on deck Friday - Roll Call

After a year of negotiations, impasses and political maneuvering, the Senate passed Democrats' top domestic priority.

Roll Call

Thune breaks through Democratic bloc on 'vote-a-rama' amendments - Roll Call

Senate Democrats stuck together and mostly voted against amendments to their tax, climate and health care package.

Roll Call

After four-hour debate, Senate begins voting on budget bill amendments - Roll Call

The Senate is starting what could be a marathon session of votes on the budget package after four hours of debate.

Roll Call

Wealthy Americans escape tax hikes in bill but will face beefed-up IRS

Wealthy Americans dodged getting hit by tax increases in the Democrats’ economic package, but they likely will face a much better-funded Internal Revenue Service equipped with new auditors and technology to uncover tax avoidance.

Tribune News Service

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Tougher IRS enforcement central to Dem economic package

One of Washington’s favorite punching bags, the Internal Revenue Service, may finally get the resources it’s been asking Congress for if Democrats get their economic package focused on energy and health care over the finish line

The Independent UK

Biden, Republicans spar over impact of Dems' economic plan

Democrats call it the “Inflation Reduction Act.”

The Independent UK

Scoop: 2024 GOP hopefuls back Trump's plan to purge civil servants

Even if Trump isn't reelected, it’s likely the next GOP president will try to implement Schedule F.

Axios

The Inflation Reduction Act and Your Taxes: What to Know for 2025

The Inflation Reduction Act increased IRS funding, changed tax policy, and offered new and expanded tax credits.

Kiplinger

Commentary: As Americans reel from stagflation, Manchin pitches tax hikes

Stagflation is here. Inflation notched a fresh 40-year high of 9.1 percent in June, and the economy shrank in the first and second quarters of the year.

Tribune News Service

Right-wing group claims it's a "church"

Forty lawmakers are calling on the IRS and the Treasury to investigate Tony Perkins' Family Research Council

Salon

Here’s what you should do about suspicious credit report activity

Dear Liz: I recently obtained copies of my credit reports from the three major credit bureaus and discovered my brother’s home address listed in the personal information section. I am extremely concerned about how and why this happened since I have never lived with my brother.

Los Angeles Times

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Benzinga

Benzinga Before The Bell: Alibaba's Delisting Concerns, Amgen's Potential $10.7B Tax Bill, Kenya Will Not Shut Facebook Services And Other Top Financial Stories Monday, August 1

CNBC

Benzinga

How To Buy Real Estate With Cryptocurrency

From parking spots to vacation rental houses and homes, everything will soon be bought with the help of cryptocurrency. Real estate purchased with cryptocurrency is fast becoming popular with buyers, sellers, and investors.

Benzinga

StateHouse Holdings Reaches Agreement With IRS To Resolve Legacy Federal Tax Obligations

StateHouse Holdings Inc. (OTCQX: STHZF) (CSE:STHZ) has reached a partial payment installment agreement with the Internal Revenue Service related to the fed

Kiplinger

How Inflation Impacts Your Taxes

The impact of inflation on federal income tax brackets and some other tax credits might not be all bad.

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news in one place.

100's of premium titles.
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Tribune News Service

Sen. Manchin backs $369 billion energy-climate plan, rejects SALT

WASHINGTON — Sen. Joe Manchin and Majority Leader Chuck Schumer have struck a deal on a tax, energy and climate bill, breaking a deadlock on the Democrats’ long-sought legislation to enact major parts of President Joe Biden’s agenda.

Tribune News Service

Sen. Manchin backs $369 billion energy-climate plan, rejects SALT

WASHINGTON — Sen. Joe Manchin and Majority Leader Chuck Schumer have struck a deal on a tax, energy and climate policy bill, breaking a deadlock on the Democrats’ long-sought legislation to enact major parts of President Joe Biden’s agenda.

Kiplinger

Backdoor Roth IRAs: Good for Wealthy Retirees?

A backdoor Roth IRA is a tax loophole that enables wealthier individuals to earn tax-free income. But it's complicated.

Benzinga

Crypto Crash 2022 - Is Cryptocurrency Still Worth the Fight In A High Net Divorce?

By Sean M Cleary The all-time highs of cryptocurrency in 2021 now seem like a distant memory, as the 2022 crypto crash has seen major digital assets give back the gains made during their historic bull run. So, what is causing the crypto crash?

The Philadelphia Inquirer

If you lost money in crypto, here's how you can get some back

If you lost money in cryptocurrency this year, there's a bit of good news. You can claim that loss on your taxes.

Chicago Tribune

Illinois Gov. Pritzker gave Democratic governors’ group $24 million to fund ads that helped nominate his GOP opponent

CHICAGO — In addition to spending more than $62 million en route to an easy win in the June primary, Illinois Gov. J.B. Pritzker also gave $24 million to the Democratic Governors Association, which then spent millions on TV ads encouraging Republicans to vote for his favored GOP challenger, state…

The Texas Tribune

Texas charity that backs Trump’s stolen-election lie has deep ties to Ken Paxton

The Texas attorney general would be the one to hold True the Vote accountable on allegations that it swindled a $2.5 million donor. But the nonprofit’s founder has been a friend and an ally.

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