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The Latest Breaking News from IRS

School districts face millions in extra costs as Texas program that backs bond debt hits its limit

Without the state’s safety net, districts with pending bond projects must now decide whether to pay more in interest or halt construction.

The Texas Tribune

For donors, wartime Ukraine aid creates blurry ethical line

Since Russia invaded Ukraine a year ago, U.S. companies, nonprofits and individuals have responded with donations, including of equipment like bulletproof vests and drones

The Independent UK

The average tax refund is $300 smaller so far this year

There might also be a delay in receiving your refund.

Fortune

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

I Don't Want To Pay Taxes By April 18; Any Reasons I Should Wait?

But in some cases, jumping the gun and sending your Form-1040 to Uncle Sam early is the wrong move.

Investors Business Daily

Big Biz wields influence over governors

NGA Chair Phil Murphy represents "the absolute worst of trickle-down economics," expert says

Salon

IRS nominee: No audit boost for households under $400,000

President Joe Biden's nominee to lead the Internal Revenue Service says that, if confirmed, he will commit to not increasing tax audits on businesses and households making less than $400,000 per year

The Independent UK

Editorial: Surprise! IRS seeks to boost compliance among tipped workers

It was barely six months ago that congressional Democrats voted to boost IRS funding by $80 billion over the next decade under the guise of beefing up tax enforcement and wringing more money out of billionaires and millionaires. Wage-earners of less means were assured they had little to worry about…

Tribune News Service

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IRS nominee faces herculean challenge of modernizing agency

A familiar face is positioned to take on the monumental task of rebuilding the understaffed and underappreciated IRS

The Independent UK

Jonathan Bernstein: Republican plans for oversight are plainly underdone

Republicans held their first hearing last week of the House Select Subcommittee on the Weaponization of the Federal Government. The session told us a lot about how little to expect from the Republican-led 118th Congress.

Tribune News Service

Commentary: It’s time we make billionaires pay their fair share

A fundamental question in politics is “which side are you on?”

Tribune News Service

Tax season has resumed—and the IRS is warning about more delays and smaller refunds in 2023

The past few years have put the IRS to the test.

Fortune

IRS won't tax most relief payments made by states last year

The IRS says most relief checks issued by states last year won't be subject to federal taxes, providing late guidance as taxpayers have begun filing returns

The Independent UK

The IRS now says most state relief checks last year are not subject to federal taxes

A week after telling payment recipients to delay filing returns, the agency won't challenge the taxability of payments related to general welfare and disaster.

WEKU

How much America's richest people would pay under a billionaire tax is pretty complicated

Elon Musk and Bill Gates could owe billions under the Billionaire Minimum Income Tax. But how that tax would play out depends on several factors.

Fortune

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Reason

IRS Plans To Raid Workers' Tip Jars

A coming crackdown on $1.6 billion in unreported tips will continue the IRS' long and ugly history of targeting low-income Americans.

Roll Call

Ideological, regional diversity hallmarks of tax panel's frosh - Roll Call

The new Republicans on the House Ways and Means Committee don't always jibe with their party's mainstream.

Salon

How the rich skirt century-old tax law

Goldman Sachs has helped billionaires see huge tax savings by selling stocks for a loss and then replacing them

WEKU

If you got inflation relief from your state, the IRS wants you to wait to file taxes

They're dubbed inflation relief payments, but they reflect a hodgepodge of rules and eligibility requirements. The IRS wants time to figure out which rules apply to them.

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news in one place.

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Fortune

Expert advice on vetting your tax preparer

More than half of all taxpayers rely on a paid tax preparer according to the most recent data.

Motor1

IRS Backtracks, Says Ford Escape And Cadillac Lyriq Are SUVs After All

The government agency has employed some changes in its classification of electrified vehicles on its website.

The Independent UK

IRS urges special refund recipients to delay filing taxes

The Internal Revenue Service is recommending that taxpayers hold off on filing their tax returns for 2022 if they received a special tax refund or payment from their state last year

Fortune

5 side hustles you can do from home that can earn you an extra $20,000 per year

Side hustles can help you explore your hobbies and pad your budget.

Reason

Short Circuit: A Roundup of Recent Federal Court Decisions

Alaskan Natives, Alaska Airlines, and Alaskan students.

Salon

Hunter Biden tries to turn tables on GOP

Hunter Biden demanded an investigation into the theft of his laptop and sent cease-and-desist letter to Fox News

Axios

Read: Hunter Biden's lawyers request criminal investigation

Read the letters his attorneys sent the DOJ, IRS, Delaware attorney general and Fox News' Tucker Carlson.

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