The Latest Breaking News from IRS

The new Republican-controlled House passed a bill to claw back funding for the IRS that was part of Democrats’ reconciliation law last year.

Congressional Democrats last year showered the IRS with $80 billion in new funding in an effort to close an estimated $600 billion “tax gap,” the difference between income taxes actually owed and those actually collected. This was supposed to help pay for the Biden administration’s ongoing spendapalooza that has run…

​Rep. Jason Smith, a self-proclaimed “firebrand” preaching a populist image of the GOP, won the nomination to be Ways and Means chairman.

Inflation has a way of affecting nearly every aspect of our finances

The proposal has little chance of passing in the Senate, but could be used as leverage by the GOP later this year

Plus: More documents showcase government pressure on social platforms, appeals court to reconsider ban on nonviolent felon gun ownership, and more...

House GOP is promising all kinds of unhinged investigations — but Senate Democrats have subpoena powers too

The government is offering a hefty tax credit to buyers of electric vehicles, but taking advantage of it is not straightforward. Here's what you need to know.

If you win the big prize, you'll owe 37% to the federal government, and even more in taxes depending on what state you live in.