The Latest Breaking News from IRS

WASHINGTON — The new Republican-controlled House passed a bill to claw back $71.5 billion in funding for the IRS that was part of Democrats’ climate, tax and health care reconciliation law last year.

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…

The bill is unlikely to pass the Democratic-led Senate.

House Republicans have began their tenure in the majority by passing a bill that would rescind nearly $71 billion that Congress had provided the IRS

In Cadillac's case, the classification means the Lyriq doesn't get a $7,500 EV tax credit.

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

​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...