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The Latest Breaking News from IRS

IRS increases 401(k), IRA contribution limits for inflation

The IRS is raising contribution limits to retirement plans, including 401(k) and IRAs, by a record 9.8% for 2023.

Axios

Standard deductions, tax brackets rise due to inflation

The IRS is increasing standard deductions for 2023 and tax brackets will be revised upward because of inflation.

Chicago Sun-Times

The new income tax brackets for 2023 likely to boost your paycheck

Here's a breakdown of income and rates for next year.

Axios

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IRS ups standard deductions, tax brackets due to inflation

Taxpayers will get fatter standard deductions for 2023 and all seven federal income tax bracket levels will be revised upward as the government allows people to shield more of their money from taxation because of persistently high inflation

The Independent UK

Republicans are trying to win by spreading three false talking points. Here’s the truth

Republicans want midterm voters to believe lies about crime, inflation and taxes. This is what they’re claiming – followed by the facts

The Guardian - US

Arizona AG seeks probe of election integrity group

Arizona’s Republican attorney general has asked the FBI and IRS to look into an election integrity group that claimed to have uncovered widespread fraud in the 2020 election but never provided evidence

The Independent UK

IRS extends time to claim child tax credits, stimulus checks with Free File

If you're missing a stimulus check or Child Tax Credit payment, the IRS is giving an extra month to use Free File.

Axios

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Complaint seeks IRS audit of Warnock, church foundation

ATLANTA — A charity arm of Ebenezer Baptist Church should face an IRS audit for allegedly concealing its ownership in an Atlanta apartment building which houses chronically homeless and mentally ill residents, according to a complaint filed by a conservative watchdog group.

Tribune News Service

‘Firebrand’ Missourian shakes up Ways and Means race - Roll Call

Rep. Jason Smith invokes a populist image for the GOP as he seeks the top Republican spot on the House Ways and Means Committee.

Roll Call

Uihlein kicks in $13.9 million more to defeat Pritzker; $1 million to oppose union rights amendment

GOP mega donor Uihlein’s campaign cash is being used to oppose Illinois Gov. J.B. Pritzker — not promote Republican nominee Darren Bailey.

Chicago Sun-Times

Poll: Most Americans Want Money For New IRS Agents Redirected To U.S. Border Patrol

While there is clear support for lawful immigration, there are also calls for stronger border controls.

Zenger

How inflation could lower your taxes

COLAs were barely noticed in the era before high inflation, but are now crucial for Americans coping with price increases.

Axios

Court error exposes Trump judge's bias

Judge Aileen Cannon's descriptions of potentially privileged documents are in stark contrast with the actual docs

Salon

U.S. IRS identifies 79 tax fugitives in Mexico, neighbors

The Internal Revenue Service's Criminal Investigation unit said on Thursday it has located 79 tax evasion fugitives in Mexico, Belize, El Salvador, Guatemala and Honduras in the first year of a new extradition initiative.

Reuters

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Tribune News Service

Commentary: Republicans hold cards to ensuring $130B in wasteful spending is cut by end of year

It’s no secret that government spending has been out of control for years. But come December, Congress will have a golden opportunity to stem the tide of red ink.

Tribune News Service

Inside Mar-a-Lago: Pardons, White House emails, legal bills

WASHINGTON — The thousands of documents recovered from former President Donald Trump’s Florida home included a mix of government, business and personal affairs, including analysis about who should get a pardon, call notes marked with a presidential seal, retainer agreements for lawyers and accountants, and legal bills, according to newly…

Reason

Throwing Money at the IRS Won't Fix Its Problems

Can the government turn $80 billion into $204 billion? Probably not.

The Guardian - US

The tax man is receiving $80bn – but US small businesses shouldn’t worry

Will your small business face greater scrutiny from the IRS? Will your tax bill go up as a result? The answer to both questions: don’t panic

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Reason

IRS Sent $1.1 Billion in Child Welfare Payments to the Wrong People

Possibly the federal government's most efficient pandemic spending effort.

Benzinga

Ten Multistate Cannabis Companies Owe $500M To The IRS, Says A New Report

An analysis of financial filings by Green Market Report showed that ten publicly traded multistate cannabis companies are carrying over $500 million in federal tax debts.

Texas Observer

Conservatives Against Conservation

American Stewards of Liberty campaigns against Biden's conservation efforts, and some question the legality of their lobbying.

The Independent UK

FAFSA season starts: What you need to know for financial aid

The Free Application for Federal Student Aid period opens Oct. 1 for the 2023-2024 school year

Liverpool Echo

Mum who was 'life and soul of the party' dies days after returning from holiday

Laura was forced to wait for mental health support due to a lack of sufficient resources

Salon

Olympic abuse scandal: A strange twist

Center for SafeSport is supposed to investigate alleged abusers. But no one has accused Jonathan Little of a crime

Investors Business Daily

Cryptocurrency News And Price Weekly Wrap-Up For Sept. 23

Crypto News Wrap-Up: Bitcoin and Ethereum fall; White House pushes for crypto regulations; Warren Buffett's indirect crypto investments; Coinbase denies proprietary trading; Jamie Dimon calls crypto a Ponzi scheme and more

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