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The Latest Breaking News from IRS

Commentary: The IRS must be properly funded; here’s why

The Internal Revenue Service is the government agency that taxpayers “love to hate,” but starving it to death is bad for the country. The Biden administration’s Build Back Better legislation, which includes critically needed funding for the IRS, in now in limbo. The president has promised to fashion a stripped-down…

Tribune News Service

¿Va a declarar sus impuestos pronto? Así es como la asistencia fiscal por el COVID-19 podría afectar lo que debes

Incluso en 2022, millones de estadounidenses sentirán el impacto de la pandemia por coronavirus cuando declaren sus impuestos.

Tribune News Service

Michael Hiltzik: Proof the IRS targets the poor for tax audits while leaving millionaires alone

The Internal Revenue Service's preference for handling millionaires and billionaires with kid gloves has been known and documented for years.

Los Angeles Times

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Lowest-Income Taxpayers Are the Most Likely To Be Audited

Plus: North Carolina rescinds FART license plate, permit-free concealed carry gets OK in Ohio, COVID case counts rising again, and more...

Reason

Filing your taxes soon? Here’s how COVID-19 relief could affect what you owe

Even in 2022, millions of Americans will feel an impact from the coronavirus pandemic when they file their taxes.

Tribune News Service

Whistleblowers and tax evasion: what South Africa needs to add to its toolbox

The importance of whistleblowers was highlighted again recently in South Africa. In one of the reports released by Judge Raymond Zondo, who has headed up a commission of inquiry into state capture, he recommended that whistleblowers should be protected. He also recommended that they should be given an incentive to…

The Conversation

IRS sees path to cut lengthy phone waits, massive refund backlog

There’s a glimmer of hope for frustrated taxpayers who have been unable to reach the Internal Revenue Service or have had their tax refunds held up by massive processing backlogs.

Tribune News Service

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IRS plans to hire 10,000 workers to relieve massive backlog

The IRS is announcing plans to hire 10,000 new workers to help reduce a massive backlog that the Biden administration says will make this tax season the most challenging in history

The Independent UK

Tax audits drop for the highest earners

Yet, it's the wealthy who are more likely to evade taxes

Axios

Cormac McCarthy has 2 novels coming out in the fall

Cormac McCarthy has two novels coming out this fall, his first fiction releases since the Pulitzer Prize-winning “The Road” in 2006

The Independent UK

Congresswomen ask IRS to look at Golden Globes group's tax exempt status

LOS ANGELES — More than a year after a Los Angeles Times investigation into the Hollywood Foreign Press Association, a pair of congresswomen have sent a letter to the Internal Revenue Service, asking for an investigation into the organization's tax-exempt status.

Los Angeles Times

IRS "Waves White Flag" In Crypto Case Impacting "Millions of Americans."

This article was originally published on Gokhshtein Media and appears here with permission.

Benzinga

First trial in Atlanta corruption investigation set to start

A political consultant who was a top aide to former Atlanta Mayor Kasim Reed is the first person set to go to trial in a long-running federal investigation into corruption at City Hall

The Independent UK

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

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Tribune News Service

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.

Roll Call

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.

The Guardian - US

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

Tribune News Service

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.

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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.

Roll Call

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.

The Guardian - US

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

Kiplinger

Seven Reasons to Avoid a Self-Directed IRA or SDIRA

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.

Chicago Sun-Times

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.

The Conversation

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.

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