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The Latest Breaking News from IRS

Opponents deny McCarthy speaker’s gavel on first vote - Roll Call

Opposition from fellow Republicans denied Kevin McCarthy the role of House speaker on the first roll call vote in the 118th Congress.

Roll Call

House leadership is in limbo as McCarthy loses 3 rounds of voting for speaker

Rep. Kevin McCarthy failed to secure the necessary votes to become House speaker in another round of voting — the third — after 20 House Republicans voted against him.

WEKU

Five-Seat Tesla Model Y Does Not Qualify For New Federal Tax Credit

That's because not all Tesla Model Y vehicles are classified as SUVs; the five-seat variants are considered cars and therefore hit with a $55,000 MSRP limit.

InsideEVs

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New tax brackets and other IRS changes can boost paychecks, lower taxes

Yearly changes made by the IRS can have a significant impact in the era of high inflation.

Axios

Avoid these mistakes with required minimum distributions

Withdrawing the wrong amount, forgetting to take your RMD, mixing plan types are some of the most common mistakes.

Fortune

‘SALT’ cap foes poised to influence House GOP tax agenda

WASHINGTON — Republicans who flipped or held districts in blue states are gearing up to flex newfound muscles in their party’s slim majority against a GOP-created limit on deducting state and local taxes, known as the “SALT” cap.

Tribune News Service

Donald Trump's White House-era tax returns have dropped. Here's what we learned

After fighting for years to keep them hidden, Donald Trump has his tax returns released to the public. They give an unvarnished look at the finances of the real estate mogul turned reality TV star, who broke decades of precedent by keeping his filings secret as president.

ABC News

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Big write-offs, tax-cut perks: Key takeaways from Trump’s tax returns

WASHINGTON — Massive losses and large tax deductions in Donald Trump’s returns reveal how the former president was able to use the tax code to minimize his income tax payments.

Tribune News Service

Did Trump break the law with his taxes? How he got away with paying so little

Ex-president hits out after personal and business returns published by House committee revealing he pursued strategies to pay as little as possible between 2015 and 2020

The Independent UK

Trump's holding company racked up $300 million in losses

The entity known as DJT Holdings LLC was awash in a sea of red ink from 2015-2020.

Axios

Trump's tax returns, revealed at last

After years-long battle, House releases thousands of pages of the former president's byzantine financial data

Salon

Alexis Leondis: New retirement rule delaying withdrawals could bite

Wealthy retirees seem to have scored big in Congress’ sweeping year-end spending package.

Tribune News Service

House Democrats release Trump's tax returns

The Democratic-controlled Ways and Means Committee has released former President Trump's tax returns from his time in office, ending a multi-year legal battle for the information.

WEKU

Trump’s tax returns are out. Here’s how he was able to pay so little — so often

WASHINGTON — Former President Donald Trump’s seven-year battle to keep the public from seeing his taxes ended in defeat Friday as a House committee released six years of returns documenting his aggressive efforts to minimize what he paid the IRS.

Los Angeles Times

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The National (Scotland)

Donald Trump's tax returns made public for first time

DONALD Trump’s tax returns have been made public despite objections by the former US president who broke decades of precedent by keeping them…

Dynamite News

Bureaucracy: 19 Joint Secretary Level Officers Transferred In Central Government

19 officers of Joint Secretary level were transferred in the Central Government on Friday. Full list on Dynamite News.

Roll Call

Trump tax returns made public after lengthy legal battle - Roll Call

The House Ways and Means Committee on Friday released six years of former President Donald Trump's tax returns.

Fortune

Lose money on crypto in 2022? Tap this tax loophole while you still can.

It's still possible for big companies—but also individual crypto owners—to take advantage of special tax treatment for Bitcoin and other digital assets.

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Tribune News Service

Trump Tax returns' release might start tit-for-tat battle in Congress, GOP aide says

WASHINGTON — Democrats’ plans to release former President Donald Trump’s tax returns could be the start of a tit-for-tat battle using Internal Revenue Service documents to target political foes, a Republican aide said.

Roll Call

'SALT' cap foes poised to influence House GOP tax agenda - Roll Call

Republicans from blue districts plan to pressure their slim House majority against a GOP-created limit deductions for state and local taxes.

Salon

Trump’s brazen tax cheating revealed

That Trump persisted in using the same fraudulent technique in 6 years of recent tax returns is evidence of intent

Kiplinger

What is the Gift Tax Exclusion for 2025 and 2026?

Knowing the annual gift tax exemption can save you time and money.

St. Louis Post-Dispatch

Editorial: Question remains unanswered of why the IRS failed to audit Trump's taxes

A gaping question remains to be answered following the House Ways and Means Committee’s decision to release Donald Trump’s tax returns: Why did the Internal Revenue Service fail to audit Trump’s taxes during the first two years of his presidency, as required by law? There’s a growing mountain of circumstantial…

Evening Standard

Former US president Donald Trump’s tax returns will finally be released on Friday

The documents to be released are expected to span the six years he ran for and served as president

The Independent UK

House committee expected to release Trump's taxes Friday

Former President Donald Trump’s tax returns are expected to be released by the House Ways and Means Committee on Friday

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