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The Latest Breaking News from IRS

A federal EV program can save you thousands. How does it work and how do you apply?

Electric vehicles are typically seen as expensive cars to own. But an updated, federal tax program designed to make them more affordable could credit you up to $7,500 for purchasing a new clean vehicle.

Tribune News Service

Son of ex-state Rep. ‘Eddie’ Acevedo goes on trial, fights tax charges tied to Madigan probe

Alex Acevedo, his brother Michael Acevedo and their father were each charged with cheating on their taxes in separate indictments handed down in February 2021. Edward Acevedo pleaded guilty in December 2021 to tax evasion, was sentenced to six months behind bars and was released last month.

Chicago Sun-Times

GOP wants to impose 30% US sales tax

The bill would also eliminate corporate income taxes and abolish the IRS

Salon

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Chris Brown mocked for ‘department store’ sized closet in his house: ‘This isn’t a flex’

‘If you can pay for a department store, please pay to organise it for convenience sake,’ said one fan

The Independent UK

Tax season already? Some tips for avoiding stress and scams

Tax season is here again

The Independent UK

IRS harshly punishes taxpayers who accidentally break the rules

The main function of the IRS is separating people from their money, and its chief tool is fear, as illustrated by the $2.1 million penalty it imposed on an 82-year-old grandmother for failing to file a form on time.

Chicago Sun-Times

Why your tax refund might shrink in 2023

Pandemic-era policies are expiring, leading to smaller refunds.

Axios

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The IRS Serves Its 'Customers' by Terrifying Them

A $2.1 million penalty for failing to file a form on time reveals the agency’s true nature.

Reason

Jamie Lee Curtis’ reaction to her first Oscar nod is so pure: ‘No filters. No fakery’

LOS ANGELES — Jamie Lee Curtis — the self-appointed 2023 awards season cheerleader — had a pure, gleeful reaction to her first Academy Awards nomination after a long career in Hollywood.

Los Angeles Times

Extreme Israeli group takes root in US with fundraising bid

An Israeli group raising funds for Jewish extremists convicted in some of the country’s most notorious hate crimes is collecting tax-exempt donations from Americans

The Independent UK

Supreme Court Declines Case Challenging Excessive IRS Penalties

Should an elderly grandmother be forced to hand over millions of dollars to the government for failing to file a particular form?

Reason

Justice Gorsuch's Dissent from Denial of Review in an Excessive Fines Clause Case

Here's his opinion from today's Toth v. U.S.: In the 1930s, Monica Toth's father fled his home in Germany to escape the swell of violent antisemitism. Eventually, he found his way to South America, where he made a new life with his young family and went on to enjoy a…

Reason

Tax season 2023 gets underway. Your questions answered

IRS starts accepting and processing 2022 returns on Jan. 23, but last-minute filers will have a little extra time.

Fortune

Your tax refund will likely be smaller this year. Here are more things to know

The IRS starts accepting tax returns for 2022 on Jan. 23. A financial expert breaks down the changes from last year, and shares her tips for coping with tax season.

WEKU

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Chicago Sun-Times

Cook County Commissioner Sean Morrison took $300K from nonprofit linked to Ken Griffin

Morrison got the money in his tight reelection race from a nonprofit that has financial ties to a PAC funded by the billionaire.

The Conversation

The weaponization of the federal government has a long history

Now that House Republicans have created a “Select Subcommittee on Weaponization of the Federal Government,” let’s revisit a classic of that power-abusing genre, featuring its greatest star, Richard M. Nixon.

Salon

McCarthy GOP brags brutally fact-checked

McCarthy tried to brag about Republican successes after a disastrous start. It didn't go well

Salon

Expert on Santos' alleged fake charity

Santos claimed his nonprofit rescued thousands of animals. There's no evidence it ever existed

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Fortune

Tax season starts next week. Here are 5 ways you can prepare to file

Tax season 2023: Important deadlines, documents, and money-saving strategies—according to experts.

Kiplinger

Child Tax Credit 2023: Who Qualifies and What It’s Worth

How much will your child tax credit be for 2023?

The Conversation

Allegations that the charity George Santos claims to have run was fake highlight how scams divert money from worthy causes

Rep. George Santos, the New York Republican whose 2022 election to the House of Representatives flipped a seat previously held by a Democrat, faces pressure to resign for having reportedly lied extensively about his education, employment history and religious heritage. He also faces allegations that he may have participated in…

The Independent UK

Biden condemns ‘fiscally demented’ congressional Republicans for IRS and tax agenda

President asks ‘what in God’s name is that all about?’ as the new House GOP majority outlines its priorities

The Guardian - US

How McCarthy’s speaker deals will cause ‘cannibalistic brawl among extremists’

The deals struck between Kevin McCarthy and the far-right House Freedom Caucus will give the most conservative figures considerable power

Fortune

Heirs of Subway’s billionaire founders could become some of America’s richest people overnight in a $10 billion sale deal

Subway has been owned by its two founding families for more than five decades.

The Independent UK

NOT REAL NEWS: A look at what didn't happen this week

Social media users shared a range of false claims this week

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People

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