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The Latest Breaking News from IRS

Is Tax Relief for Marijuana Businesses Coming?: Kiplinger Tax Letter

Marijuana businesses get tax relief in some states to help with their thorny income tax issues.

Kiplinger

$80bn for the IRS? Fund the US taxman, but not like this

The Internal Revenue Service is woefully underfunded, and badly needs money – but Biden has made a PR blunder

The Guardian - US

IRS Targets Unreported Foreign Accounts: Kiplinger Tax Letter

The IRS devotes significant resources to ensure timely reporting of overseas financial accounts.

Kiplinger

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Experian to Pay $650K Fine for Spamming People

People seeking to freeze their credit data online were hit with unsolicited emails and no way to opt out.

Kiplinger

Ready to kick-start your retirement savings? Don't sleep on a Roth IRA

With a Roth IRA, you trade tax-deductible contributions for tax-free retirement income.

Fortune

As Biden celebrates climate funding, Republicans eye the money - Roll Call

President Biden is marking the first year since enactment of climate, tax and health law, but much of the money has yet to be put to use.

Roll Call

Bray Wyatt's Father, Ex-WWE Star IRS, Gives Confusing But Promising Update On Superstar's Return

Bray Wyatt's father gave a promising update on the WWE superstar's status, though the messaging was a bit confusing.

Cinemablend

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The IRS Misplaced Millions of Taxpayer Records. Again.

The only effective means of keeping tax collectors from misusing data is keeping it from them.

Reason

Are You Mistakenly Dead to the IRS?

A new report says the IRS placed 'deceased locks' on accounts of more than 90,000 taxpayers who weren’t dead.

Kiplinger

Hunter Biden: the moments that pushed president’s son into spotlight

As federal prosecutors charge Joe Biden’s son over illegally possessing a firearm, we look back at a list of controversies

The Guardian - US

When Claiming the Employee Retention Credit (ERC) Doesn’t Pay

A tax preparer arrested for $124 million in alleged fake employee retention tax credits highlights IRS concerns about the ERC program.

Kiplinger

Competition closing soon! There's still time to win a $500 Apple Gift Card

Have your say on the greatest Apple devices, apps and accessories of the year.

iMore

Will California Stop Taxing Military Pensions?

California fully taxes military retirement pay but a new bill would change that to provide tax relief to military retirees.

Kiplinger

Teslas Now Appear Eligible For $4,000 Used EV Tax Credit

The IRS updated its website and it appears that used Tesla products under $25,000 could potentially qualify for the $4,000 federal tax credit.

InsideEVs

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Kiplinger

Claiming the Employee Retention Tax Credit is an IRS Audit Red Flag: Kiplinger Tax Letter

Tackling improper ERTC claims is one of the IRS’s biggest enforcement priorities.

Kiplinger

Tax Court Filing Deadlines: Kiplinger Tax Letter

How broad is a U.S. Supreme Court case on Tax Court filing deadlines?

The Guardian - US

The far-right financier giving millions to the Republican party to fight ‘woke communists’

Financier Thomas Klingenstein has become one of the largest donors to the party and has increasingly used his resources to pursue a hard-edged version of rightwing politics

The Week

Too close to the son: could Hunter Biden cost Joe the election?

Joe Biden has always presented himself as the “loving patriarch” of a close-knit family, said The New York Times, one that has endured more than its share of tragedy, including the deaths of Biden’s first wife and infant daughter in a car crash in 1972, and of his older son…

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Zenger

‌Iniciativa de procesamiento sin papel del IRS para ahorrar $ 2.6 billones en el déficit federal de EE. UU.

‌‌Yellen elogia el programa del IRS como un cambio de juego, insta al Congreso a que continúe apoyando.

Zenger

IRS’s Paperless Processing Initiative To Save $2.6 Trillion In U.S. Federal Deficit

Yellen lauds IRS program as game-changer, urges Congress for continued support.

Kiplinger

Tax Benefits of Hiring Your Kids Plus IRS Rules to Follow

Hiring your child can potentially lower your tax bill and help kids develop skills, but there are some rules you need to know — and follow.

TechRadar

The IRS says you'll be able to file all your taxes online by 2025

The IRS is going to help you submit your taxes digitally, as well as converting all previous papers to e-records.

The Hindu

1,365 vacant posts in IAS, 703 in IPS: Government tells Rajya Sabha

There are 1,365 vacancies in the Indian Administrative Service (IAS) and 703 in the Indian Police Service (IPS), Union Minister of State for Personnel Jitendra Singh informed Rajya Sabha in a written reply on August 3, 2023

Kiplinger

Why Business Owners Should Review Their Buy-Sell Agreements

A recent tax case now before the U.S. Supreme Court hasn’t gone well for a small business, highlighting the need for businesses using a similar (and typical) succession planning arrangement to take a look at theirs.

Kiplinger

Bond Basics: Zero-Coupon Bonds

These investments are attractive only to a select few. Find out if they're right for you.

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