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The Latest Breaking News from IRS

Alexis Leondis: FTX users can’t count on help from the IRS

When market investors suffer losses — or get taken for a ride — they’re often eligible for a tax write-off to soften the blow. Users of the bankrupt crypto exchange FTX won’t be so lucky.

Tribune News Service

IRS contractor gets more scrutiny in congressional report

House investigators say a federal contractor that provided identity verification services for the Internal Revenue Service overstated its capacity to perform its services

The Independent UK

Why did an Augusta golf course receive an $8 million tax deduction? The southern fox squirrel is part of the answer

The course, which hosts the annual Augusta National Women's Amateur tournament, was completed in June 2005.

USA Today Sports Media Group

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How To Get Your Taxes Done As A Trader

For most people, taxes can be a headache. This is especially true for investors who are not quite certain what they qualify for, how they need to report, or what tax benefits they can take advantage of. If you’re not careful, the IRS can classify you as an investor, which…

Benzinga

CBI to announce reward on 'absconding' IRS officer

The CBI will soon announce a reward of Rs one lakh for providing information on IRS officer Santosh Karnani who is absconding since October 4 after his name surfaced in Rs 30 lakh alleged bribery case, officials said. Read on for details:

Dynamite News

John Kelly says Trump wanted to "get the IRS on" James Comey and get DOJ to probe other foes

"The U.S. government ... should never be weaponized or used to retaliate," ex-WH chief of staff told NYT.

Axios

Home equity loan rates for the week of Aug. 26, 2024

The average home equity loan rate remained at 8.60%.

Fortune

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2023 IRA contribution and income limits: What retirement savers need to know

The IRS has some good news for workers who use traditional or Roth IRAs to save for retirement. In 2023, you’ll be able to contribute an additional $500 to either account. It’s the first increase since 2019, bringing the total annual contribution limit to $6,500. Those age 50 and older…

Tribune News Service

US far-right group sparks legal firestorm over drive to monitor drop-box voting

Melody Jennings of Clean Elections USA teamed up with True the Vote for project that echos Trump’s false claims about 2020

The Guardian - US

Standard Deduction 2026: How Much You Can Claim and Whether You Should Itemize

Most people claim the standard deduction on their federal tax return instead of itemizing deductions. How much can you claim?

Kiplinger

‘Breaking our way.’ Kentucky's Comer, Massie eye GOP House gains, weigh priorities after midterms

WASHINGTON — Rep. James Comer of Kentucky said he expects Republicans to gain 30 House seats in Tuesday’s midterm elections, easily clearing the six necessary for the GOP to capture control of the chamber.

McClatchy Washington Bureau

AP News Digest 3:45 a.m.

Here are the AP’s latest coverage plans, top stories and promotable content. All times EDT. For up-to-the minute information on AP’s coverage, visit Coverage Plan at https://newsroom.ap.org.

The Independent UK

IRS crime-fighting arm takes on new tasks during Ukraine war

The crime-fighting arm of the IRS has identified more than $32 billion in funds this past fiscal year for eventual seizure

The Independent UK

SCOTUS blocks Trump tax records release

Trump asked the high court to intervene after lower courts repeatedly rejected his appeals

Salon

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Reason

Twitter Was Toxic Long Before Musk Took Over

Plus: Hate speech is free speech, tax gap is stable, and more...

Benzinga

New Jersey Update: Cannabis Deductions Bill Heads To Senate, Expungement Clinics In Trenton

Under the Internal Revenue Service (IRS) code 280E, the marijuana industry remains blocked from taking federal deductions, which precludes entities that illegally sell Schedule I or II drugs from key tax deductions in their federal filings.

Tribune News Service

Trump asks Supreme Court to block disclosure of his tax returns

WASHINGTON — Former President Donald Trump has asked the U.S. Supreme Court to block a congressional committee from getting years of his tax returns.

Salon

What's new with ACA in 2023

Though much coverage stays the same from year to year, there are a few upcoming changes for 2023

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Salon

IRS ignores law-breaking churches

The IRS has largely abdicated its enforcement responsibilities as churches have become more brazen

WEKU

Shopping for ACA health insurance? Here's what's new this year

There's finally been a fix to the "family glitch" that made marketplace health plans sometimes unaffordable. And although premiums are rising, subsidies are too, and more people are eligible.

Tribune News Service

Coalition gears up for lame-duck push to shield online sellers

WASHINGTON — Lobbyists for online merchants and payment platforms and their congressional allies are pressing to raise the threshold that triggers tax reporting for certain sales and services before IRS forms go out to more gig workers and freelancers operating online early next year.

Tribune News Service

Could Minnesota officials have stopped Feeding our Future fraud sooner?

MINNEAPOLIS — Why did it take almost two years for government officials to shut down Feeding Our Future and cut off payments to individuals now accused of orchestrating the nation's largest pandemic fraud?

Kiplinger

What Are I-Bonds? Inflation Made Them Popular. What Now?

Inflation has made Series I savings bonds, known as I-bonds, enormously popular with risk-averse investors. How do they work?

The Independent UK

IRS: Growing gap between US income taxes owed and paid

The IRS says the amount of income tax money owed but not paid to the government is projected to grow

Tribune News Service

‘I had my son on my hip’: How this congresswoman from Delaware landed her first internship

WASHINGTON — When Lisa Blunt Rochester went to a town hall meeting in the late 1980s, she wasn’t necessarily looking for a job. She just wanted to hear what her elected officials had to say.

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