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The Latest Breaking News from IRS

GOP IRS cut for Israel increases deficit

"Republicans never miss a chance to protect their billionaire donors," said Sen. Sheldon Whitehouse, D-R.I.

Salon

House speaker lays out conditions for Republicans to support Ukraine aid

Mike Johnson says that Ukraine aid must be coupled with security for the US-Mexico border

The Independent UK

Mike Johnson’s Israel test: Few allies, fewer options

New House speaker faces doubt, low expectations as first test of leadership begins

The Independent UK

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Giving to Charity This Holiday Season? Eight Tips for Doing It the Right Way

Maximize your efforts by following these expert-recommended tips.

Kiplinger

Top Biden officials urge Congress to pass military aid for Israel and Ukraine

In hearing interrupted by protesters, Antony Blinken and Lloyd Austin try to beat Republican attempts to kill $106bn package

The Guardian - US

Biden’s Israel funding request gets scrutiny, hits early hurdle

US rights group says president’s request to Congress suggests US may ‘bankroll’ displacement of Palestinians.

Al Jazeera

Republicans’ Israel bill would strip money from IRS ability to crack down on tax cheats

The proposed bill will also strip money from the IRS’s plan to create a free electronic filing system

The Independent UK

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GOP seeks to pair Israel aid & IRS cuts

House GOP "using aid for Israel as a political pawn in order to slash taxes for their wealthy donors," Dem says

Salon

House Republicans aim to pay for Israel aid with cuts to IRS funds

Democrats want Israel and Ukraine funding to be linked together. House Republicans are proposing a standalone bill with roughly $14 billion for Israel offset with cuts to the Internal Revenue Service.

WEKU

You May Have to Put Catch-Up Contributions in a Roth 401(k): That's Not a Bad Idea

High earners will be required to put their catch-up contributions in a Roth 401(k).

Kiplinger

Taking From IRS, Giving to Israel

Plus: Massive union wins, abortion rebrands, Silvio Berlusconi's nude-art collection, and more...

Reason

Up First briefing: Israel won't agree to a cease-fire; how tech messes with our senses

Israeli troops have advanced deeper into Gaza as Prime Minister Benjamin Netanyahu rejects international calls for a humanitarian pause. Ditching your phone can help you tune in to your body.

WEKU

House Republicans unveil $14.3B stand-alone Israel supplemental - Roll Call

House Republicans' stand-alone bill would decouple aid for Israel from aid for Ukraine and border security.

Roll Call

How Are I Bonds Taxed? Nine Common Situations

Series I bonds are a popular investment that can help you save on taxes, but the federal income tax consequences can be complex.

Kiplinger

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Reason

You Can't Fix Him (the IRS)

Plus: Tanks in Gaza, quitting the DSA, Gen Z hates a sex scene, and more...

The Guardian - US

The grey moral ground of lying on expense travel reports

A Citibank employee was recently fired for fudging receipts, but companies are striving to follow the rules laid down by the IRS

Chicago Sun-Times

IRS plans limited rollout of free e-file tax return system with invitations to select taxpayers

The agency estimates that hundreds of thousands of taxpayers will participate in the limited rollout of the program for the 2024 filing season.

Roll Call

‘Oh, come on!’ Groans and gritted teeth as Jordan loses first speaker round

As Jim Jordan came up short Tuesday afternoon, visitors watching from the gallery said this was — and wasn’t — planned.

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Fortune

'This is all bad news': 'Shark Tank' mogul Kevin O'Leary looks at the commercial real estate landscape and despairs, warning of 'chaos' to come

Not only does O'Leary see a "correction" coming for the office sector, but in New York it may be better "to actually tear these buildings down and rebuild.”

The Guardian - US

Harvard billboard accusing students of antisemitism linked to rightwing funder

IRS filings show Informing America Foundation helping to bankroll variety of conservative groups and causes

Reason

Americans Don't Much Like Federal Agencies

Yet another year of low ratings for the apparatus of the D.C. leviathan.

Fortune

Why Microsoft got a $29 billion tax bill from the IRS

In the largest tax audit in U.S. history, the IRS rejected Microsoft’s efforts to assign profits to a small factory in Puerto Rico.

Reason

Short Circuit: A Roundup of Recent Federal Court Decisions

SWAT takings, retaliatory liens, and a Spam confiscation.

Kiplinger

Medicare Premiums 2024: IRMAA for Parts B and D

WEKU

Gap between U.S. income taxes owed and paid is set to keep growing, the IRS says

For tax years 2021 and 2020, the latest to receive such IRS estimates, the projected gross "tax gap" soared to $688 billion and $601 billion, respectively. That is a significant jump from the past.

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