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The Latest Breaking News from IRS

Lowest-Income Taxpayers Are the Most Likely To Be Audited

Plus: North Carolina rescinds FART license plate, permit-free concealed carry gets OK in Ohio, COVID case counts rising again, and more...

Reason

Filing your taxes soon? Here’s how COVID-19 relief could affect what you owe

Even in 2022, millions of Americans will feel an impact from the coronavirus pandemic when they file their taxes.

Tribune News Service

Whistleblowers and tax evasion: what South Africa needs to add to its toolbox

The importance of whistleblowers was highlighted again recently in South Africa. In one of the reports released by Judge Raymond Zondo, who has headed up a commission of inquiry into state capture, he recommended that whistleblowers should be protected. He also recommended that they should be given an incentive to…

The Conversation

From analysis to the latest developments in health,
read the most diverse news in one place.

IRS sees path to cut lengthy phone waits, massive refund backlog

There’s a glimmer of hope for frustrated taxpayers who have been unable to reach the Internal Revenue Service or have had their tax refunds held up by massive processing backlogs.

Tribune News Service

IRS plans to hire 10,000 workers to relieve massive backlog

The IRS is announcing plans to hire 10,000 new workers to help reduce a massive backlog that the Biden administration says will make this tax season the most challenging in history

The Independent UK

Tax audits drop for the highest earners

Yet, it's the wealthy who are more likely to evade taxes

Axios

Cormac McCarthy has 2 novels coming out in the fall

Cormac McCarthy has two novels coming out this fall, his first fiction releases since the Pulitzer Prize-winning “The Road” in 2006

The Independent UK

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Congresswomen ask IRS to look at Golden Globes group's tax exempt status

LOS ANGELES — More than a year after a Los Angeles Times investigation into the Hollywood Foreign Press Association, a pair of congresswomen have sent a letter to the Internal Revenue Service, asking for an investigation into the organization's tax-exempt status.

Los Angeles Times

IRS "Waves White Flag" In Crypto Case Impacting "Millions of Americans."

This article was originally published on Gokhshtein Media and appears here with permission.

Benzinga

First trial in Atlanta corruption investigation set to start

A political consultant who was a top aide to former Atlanta Mayor Kasim Reed is the first person set to go to trial in a long-running federal investigation into corruption at City Hall

The Independent UK

Campaign 2022 kicks off with ‘camaraderie,’ coffee and catcalls — as candidates line up to get on the ballot

It was the first day of the weeklong period for candidates to file their nominating petitions for federal, state and local offices on the June primary ballot. The Illinois State Board of Elections headquarters didn’t open until 8 a.m. But that didn’t stop candidates and staffers from gathering…

Chicago Sun-Times

Uphill climb seen for employment tax credit in omnibus talks

WASHINGTON — Lawmakers on both sides of the aisle want to restore a pandemic-era tax break for small businesses and nonprofits as part of a massive spending bill taking shape, after Congress stripped the benefit away for the final months of 2021.

Tribune News Service

Uphill climb seen for employment tax credit in omnibus talks - Roll Call

Lawmakers on both sides of the aisle want to restore a pandemic-era employee retention tax break for small businesses and nonprofits.

Roll Call

Meet the oligarchs: the Russian billionaires whose jets, yachts and mansions are now in the crosshairs

Some of Russia’s super rich are finding their assets in the west under threat of sanctions from the US

The Guardian - US

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Tribune News Service

The IRS dropped ID.me's facial recognition tech after backlash. WA is rolling it out in June

Washington state is getting ready to roll out the ID.me facial recognition system dropped by the IRS last month over privacy and equity concerns.

Tribune News Service

State of the Union address will seek to revive dormant budget reconciliation bill

President Joe Biden will use part of his first State of the Union address Tuesday to revamp his pitch to Congress on passing his stalled social safety net and climate package, focusing on how the budget measure can lower costs for families and reduce the deficit.

Tribune News Service

Poll: 67% expecting tax refunds say the money is important for their finances

As with every year, the start of 2022 brings one of life’s few certainties: tax season. And more than two years into the pandemic, financial hardships mean this year’s filing will be important to millions of Americans.

Roll Call

State of the Union address will seek to revive dormant budget reconciliation bill - Roll Call

President Joe Biden will use part of his first State of the Union address Tuesday to press Congress on his stalled budget package.

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The Guardian - US

Beware: new IRS rules will lead to a wave of phishing frauds

Services like PayPal and Square now need your tax information. Scammers are going to be on the prowl to get it too

Kiplinger

Seven Reasons to Avoid a Self-Directed IRA

Self-directed IRAs let investors do things they can't in an ordinary IRA, like invest directly in alternative assets. But this opportunity also comes with these risks.

Chicago Sun-Times

Desperate for loans, Patrick Daley Thompson put hundreds of thousands in campaign cash in crooked Bridgeport bank

Documents subpoenaed by prosecutors and other public records reflect a growing desperation as he tried to quadruple the amount of money he was borrowing from Washington Federal Bank for Savings.

The Conversation

Taxpayers should expect serious delays from the IRS this year – a tax scholar offers tips but says only Congress can fix the underlying problem

No one likes tax season. It’s complicated, it’s stressful, and it’s getting worse.

Ballotpedia

Checks and Balances: IRS walks back use of facial recognition technology

The Checks and Balances Letter delivers news and information from Ballotpedia’s Administrative State Project, including pivotal actions at the federal and state levels related to the separation of powers, due process, and the rule of law.

Los Angeles Times

Michael Hiltzik: Don't blame the IRS for its lousy service. Blame Congress

With tax season already underway — the filing deadline this year is April 18 — complaints about the Internal Revenue Service are already rolling in.

Tribune News Service

Nondefense squeeze won’t spare IRS in omnibus spending talks

WASHINGTON — The IRS won’t get the appropriations boost for the ongoing fiscal year that Democrats had hoped for, adding emphasis to the party’s push to offer the agency $80 billion in extra funds through their stalled budget reconciliation package.

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