The Latest Breaking News from IRS

Running behind on taxes? Here’s how to file for an extension as deadline approaches

The federal tax deadline is nearing, but there’s still time to file for an extension if you’re running behind.

McClatchy Washington Bureau · Apr 11, 2022

Running behind on taxes? Here’s how to file for an extension as deadline approaches

The federal tax deadline is nearing, but there’s still time to file for an extension if you’re running behind.

McClatchy Washington Bureau · Apr 11, 2022

Cannabis Chart Of The Week: The Enormous Tax Impact On Marijuana Companies From IRS Code 280E

Public U.S. companies filing financial statements under GAAP must include a comprehensive tax footnote that details timing differences and permanent differences. Most of the tier one MSOs in the graph have filed annuals with footnotes that explicitly document the impact of 280E taxes. Verano (CSE:VRNO) and Jushi (OTCQX:JUSHF) have not…

Benzinga · Apr 11, 2022

Exclusive-U.S. suspends tax information exchange with Russian authorities

The U.S. Internal Revenue Service has suspended information exchanges with Russia's tax authorities in a bid to hamper Moscow's ability to collect taxes and fund its war against Ukraine, the Treasury Department told Reuters on Tuesday.

Reuters · Apr 5, 2022

Stacey Abrams reaches millionaire status before 2nd campaign

Georgia Democrat Stacey Abrams has become a millionaire

The Independent UK · Apr 5, 2022

Commentary: The IRS doesn’t need more workers, it needs less work

Tax day is approaching, and a shorthanded Internal Revenue Service just got a $675 million boost (6%) from Congress and the president. But money won’t fix this problem. We can solve it—and maybe some other problems—with tax reform.

Tribune News Service · Mar 31, 2022

‘Everything Everywhere All at Once’ a playful skip through the multiverses of hot-dog fingers and cooking raccoons

Rarely has a trip to the IRS yielded such cosmic, metaphysical digressions as it does in this antic movie with the spin cycle set to supercollider.

Chicago Sun-Times · Mar 30, 2022

Michael Hiltzik: The FTC sues TurboTax for trying to keep you from filing your taxes for free

For what seems like forever, Americans have been asking why it's so damn hard — and expensive — to file their taxes.

Los Angeles Times · Mar 29, 2022

Tax-loss harvesting: How to turn investment losses into money-saving tax breaks

Kiss your poor investment goodbye and get a tax break for doing it – that’s the idea behind tax-loss harvesting. It can be a smart move to make if you’re holding on to an underperforming stock or fund and you’re looking offset gains realized from selling another one of your…

Tribune News Service · Mar 28, 2022

The IRS promises your tax refund within three weeks. Here are some exceptions

WASHINGTON — More people are getting bigger federal tax refunds this year, but not everyone will be getting their refund within the 21 days the Internal Revenue Service promised.

McClatchy Washington Bureau · Mar 25, 2022