The Latest Breaking News from IRS

Give gun owners a tax break for getting rid of their weapons

The tax code should be amended so those who legally own a firearm can turn it in and receive a tax deduction on their federal income tax return.

Chicago Sun-Times · Jan 29, 2023

A federal EV program can save you thousands. How does it work and how do you apply?

Electric vehicles are typically seen as expensive cars to own. But an updated, federal tax program designed to make them more affordable could credit you up to $7,500 for purchasing a new clean vehicle.

Tribune News Service · Jan 27, 2023

Son of ex-state Rep. ‘Eddie’ Acevedo goes on trial, fights tax charges tied to Madigan probe

Alex Acevedo, his brother Michael Acevedo and their father were each charged with cheating on their taxes in separate indictments handed down in February 2021. Edward Acevedo pleaded guilty in December 2021 to tax evasion, was sentenced to six months behind bars and was released last month.

Chicago Sun-Times · Jan 27, 2023

Why your tax refund might shrink in 2023

Pandemic-era policies are expiring, leading to smaller refunds.

Axios · Jan 25, 2023

The IRS Serves Its 'Customers' by Terrifying Them

A $2.1 million penalty for failing to file a form on time reveals the agency’s true nature.

Reason · Jan 25, 2023

Jamie Lee Curtis’ reaction to her first Oscar nod is so pure: ‘No filters. No fakery’

LOS ANGELES — Jamie Lee Curtis — the self-appointed 2023 awards season cheerleader — had a pure, gleeful reaction to her first Academy Awards nomination after a long career in Hollywood.

Los Angeles Times · Jan 24, 2023

Extreme Israeli group takes root in US with fundraising bid

An Israeli group raising funds for Jewish extremists convicted in some of the country’s most notorious hate crimes is collecting tax-exempt donations from Americans

The Independent UK · Jan 24, 2023

Supreme Court Declines Case Challenging Excessive IRS Penalties

Should an elderly grandmother be forced to hand over millions of dollars to the government for failing to file a particular form?

Reason · Jan 23, 2023

Justice Gorsuch's Dissent from Denial of Review in an Excessive Fines Clause Case

Here's his opinion from today's Toth v. U.S.: In the 1930s, Monica Toth's father fled his home in Germany to escape the swell of violent antisemitism. Eventually, he found his way to South America, where he made a new life with his young family and went on to enjoy a…

Reason · Jan 23, 2023

Tax season 2023 gets underway. Your questions answered

IRS starts accepting and processing 2022 returns on Jan. 23, but last-minute filers will have a little extra time.

Fortune · Jan 22, 2023