The Latest Breaking News from IRS

House centrists could derail Manchin reconciliation deal with demand for no new taxes

Trying to modify the potential deal could scuttle the entire package.

Axios · Jul 13, 2022

Feds open investigation of former Detroit Mayor Kilpatrick to recoup taxpayer money squandered in scandal

DETROIT — Federal prosecutors opened an investigation Thursday in an effort to force former Detroit Mayor Kwame Kilpatrick to pay restitution to taxpayers amid questions about whether he had started paying $1.7 million debt to the city and Internal Revenue Service.

Tribune News Service · Jul 8, 2022

Editorial: 2 'random' IRS audits miraculously target 2 high-profile Trump enemies

James Comey and Andrew McCabe, who both headed the FBI and both clashed with then-President Donald Trump, found themselves miraculously selected for “random” deep-dive audits by the Internal Revenue Service in 2019 and 2021. The chance of both Comey and McCabe being randomly selected out of more than 150 million…

St. Louis Post-Dispatch · Jul 8, 2022

FBI chief and deputy targeted by Trump both underwent rare intensive IRS audits, report says

Tax agency remains governed by Trump appointee

The Independent UK · Jul 6, 2022

California taxpayers told they owe the IRS money when they already paid. Here’s why

SACRAMENTO, Calif. — The Internal Revenue Service has sent letters to taxpayers throughout California telling them they owe money — and hefty penalties and interest — for their 2021 taxes even though they had already paid everything they were obligated to pay.

Tribune News Service · Jul 5, 2022

China to Expand Global Investors’ Access to Its Financial Derivatives Market

As offshore investors become more active in trading Chinese bonds, their demand for derivatives to manage the risks of fluctuating interest rates has grown

Caixin Global · Jul 4, 2022

In What Order Should You Tap Your Retirement Funds?

Should you go with your IRA first or your brokerage account? Follow this road map for tax-smart withdrawals.

Kiplinger · Jun 28, 2022

IRS officer Nitin Gupta appointed new CBDT chairman

The CBDT is headed by a Chairman and can have six members who are in the rank of special secretary. It is the administrative body for the Income Tax department.

The Hindu · Jun 27, 2022

Bureaucracy: Nitin Gupta appointed as Chairman CBDT

The Government of India on Monday appointed IRS Nitin Gupta as chairman of the Central Board of Direct Taxes (CBDT). Read more on Dynamite News:

Dynamite News · Jun 27, 2022

'Groundhog Day' at IRS: Returns pile up, phone delays worsen

An IRS watchdog says customer service issues are worsening at the tax-return-processing agency

The Independent UK · Jun 22, 2022