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The Latest Breaking News from IRS

Feds open investigation of former Detroit Mayor Kilpatrick to recoup taxpayer money squandered in scandal

DETROIT — Federal prosecutors opened an investigation Thursday in an effort to force former Detroit Mayor Kwame Kilpatrick to pay restitution to taxpayers amid questions about whether he had started paying $1.7 million debt to the city and Internal Revenue Service.

Tribune News Service

Editorial: 2 'random' IRS audits miraculously target 2 high-profile Trump enemies

James Comey and Andrew McCabe, who both headed the FBI and both clashed with then-President Donald Trump, found themselves miraculously selected for “random” deep-dive audits by the Internal Revenue Service in 2019 and 2021. The chance of both Comey and McCabe being randomly selected out of more than 150 million…

St. Louis Post-Dispatch

IRS audits of ex-FBI chiefs Comey and McCabe, called traitors by Trump, prompt probe

WASHINGTON — The odds of matching six numbers in the Texas Powerball lottery are 1 in 25 million. That’s three times better than the odds that two former FBI directors deemed traitors by then-President Donald Trump, James Comey and Andrew McCabe, were picked at random for an unusually intensive IRS…

Tribune News Service

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IRS asks US Treasury watchdog to probe audits of ex-FBI officials

James Comey and Andrew McCabe, former FBI officials fired by Donald Trump, were targeted by intensive tax audits.

Al Jazeera

Remy: Spiderwebs (No Doubt IRS Parody)

Forget long hold times—the IRS isn’t answering at all.

Reason

Did Trump IRS "target" Comey, McCabe?

Comey and McCabe suspiciously both faced audits targeting just 1 in 30,000 people each year

Salon

FBI chief and deputy targeted by Trump both underwent rare intensive IRS audits, report says

Tax agency remains governed by Trump appointee

The Independent UK

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California taxpayers told they owe the IRS money when they already paid. Here’s why

SACRAMENTO, Calif. — The Internal Revenue Service has sent letters to taxpayers throughout California telling them they owe money — and hefty penalties and interest — for their 2021 taxes even though they had already paid everything they were obligated to pay.

Tribune News Service

China to Expand Global Investors’ Access to Its Financial Derivatives Market

As offshore investors become more active in trading Chinese bonds, their demand for derivatives to manage the risks of fluctuating interest rates has grown

Caixin Global

In What Order Should You Tap Your Retirement Funds?

Should you go with your IRA first or your brokerage account? Follow this road map for tax-smart withdrawals.

Kiplinger

IRS officer Nitin Gupta appointed new CBDT chairman

The CBDT is headed by a Chairman and can have six members who are in the rank of special secretary. It is the administrative body for the Income Tax department.

The Hindu

Bureaucracy: Nitin Gupta appointed as Chairman CBDT

The Government of India on Monday appointed IRS Nitin Gupta as chairman of the Central Board of Direct Taxes (CBDT). Read more on Dynamite News:

Dynamite News

'Groundhog Day' at IRS: Returns pile up, phone delays worsen

An IRS watchdog says customer service issues are worsening at the tax-return-processing agency

The Independent UK

AP News Digest 3 a.m.

Here are the AP’s latest coverage plans, top stories and promotable content. All times EDT. For up-to-the minute information on AP’s coverage, visit Coverage Plan at https://newsroom.ap.org.

The Independent UK

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The Independent UK

IRS erases last season's backlog, but still faces 2022 crush

The Internal Revenue Service says that it will have erased its backlog of last season’s tax returns by the end of this week

Salon

How GOP donor Jeff Yass games tax system

Jeff Yass dodged $1 billion in taxes — now he's pouring money to support election deniers

Salon

APT illegally raises millions: complaint

New complaint says Americans for Public Trust is illegally raising millions while airing GOP propaganda

The Independent UK

Millennial Money: 4 items for your midyear money checklist

Heading into the second half of 2022, it’s a good time to pause and check in on your financial life

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news in one place.

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Tribune News Service

Auto review: Super-charged, Super Cruise, super-ute Cadillac Escalade-V is Hulk on wheels

SCOTTSDALE, Arizona — The Cadillac Escalade-V’s specs seem like something out of a Marvel comics creative session: Big as Hulk, seats seven, built on a steel truck frame, cruises on autopilot — yet accelerates from zero to 60 mph in 4.4 seconds, dances on Corvette-inspired magnetic shocks, and stops on…

Input

A24 turns the ‘Everything Everywhere All at Once’ butt plug trophy into a candle

Don’t worry, it doesn’t smell how you may think.

Tribune News Service

Lawmakers who ran on ‘SALT’ relief prepare to face voters

WASHINGTON — Democrats are short on time to act on a budget package containing much of President Joe Biden’s domestic agenda before November’s midterm elections, which could spell trouble for an issue that’s animated some tight House races before: the cap on deducting state and local taxes.

Roll Call

Lawmakers who ran on 'SALT' relief prepare to face voters - Roll Call

Democrats who previously campaigned on addressing the cap on deducting state and local taxes are running out of time to do so.

Daily Mirror

Logan Paul responds to Floyd Mayweather claiming he has been paid for fight

Logan Paul reasserted his claim that Floyd Mayweather hasn't paid him for their exhibition clash last year, with the YouTube star branding the boxing legend a "punch drunk idiot"

Roll Call

Bipartisan crypto bill outlines regulatory, tax framework - Roll Call

New legislation would treat cryptocurrency as a commodity and give the Commodity Futures Trading Commission regulatory authority.

Salon

Dark money fueled Jan. 6 — but whose?

Shadowy "war games" for what happened on Jan. 6 began months earlier — but we still don't know who paid for them

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