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The Latest Breaking News from IRS

He's trying to fix the IRS and has $80 billion to play with. This is his plan

There are two competing trends: The population of the U.S. has grown at the same time as the workforce of the IRS has shrunk. A 10-year, $80 billion plan aims to tackle the agency's troubles.

WEKU

Low-Tax States Gain Residents From California and New York

IRS data show taxpayers are leaving high-tax states like California and New York and moving to low-tax states.

Kiplinger

Tax pledge’s father bestows blessing on GOP debt limit package - Roll Call

Grover Norquist says his group determined a debt limit bill wouldn’t raise taxes, which helped Speaker Kevin McCarthy secure a narrow win.

Roll Call

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IRS Relief for Florida Comes as Lawmakers Mull Major Tax Cuts

Residents impacted by recent severe Florida storms have an extended IRS tax deadline.

Kiplinger

Why Do Federal Bureaucrats Need So Much Firepower?

A new report details a startling trend: Federal agencies with no obvious law enforcement purview are spending millions each year on guns and ammunition.

Reason

2023 Georgia Tax Rebates Up to $500 Are Now Being Sent

Georgia has started sending special 2023 surplus tax refunds to eligible residents.

Kiplinger

Court Rejects School District's "Heckler's Veto" of The Satanic Temple's After-School Meeting Application

From The Satanic Temple, Inc. v. Saucon Valley School Dist., decided yesterday by Judge John M. Gallagher (E.D. Pa.): [According to the Complaint,] Plaintiff, The Satanic Temple, Inc. ("TST") "is a non-theistic, religious not-for-profit corporation" that "has been recognized by the IRS as a church… and as a religious corporation."…

Reason

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Are Scholarships Always Tax-Free? What You Need to Know

Scholarships are generally tax-free if certain IRS and other requirements are met.

Kiplinger

Oklahoma Storm Victims Have an Extended IRS Tax Deadline

Oklahoma taxpayers impacted by severe April storms have an extended tax filing and tax payment deadline.

Kiplinger

‘Excessive loyalty’: how Republican giant George Shultz fell for Nixon, Reagan … and Elizabeth Holmes

The great secretary of state’s biographer, Philip Taubman, balances cold war achievements with costly political failures

The Guardian - US

Beyoncé responds to government claim she owes millions in back taxes

Lawyer Michael C Cohen said: ‘We are working with the IRS and anticipate that the matter will be resolved shortly’

The Independent UK

Beyoncé responds to government claim she owes millions in back taxes

Lawyer Michael C Cohen said: ‘We are working with the IRS and anticipate that the matter will be resolved shortly’

The Independent UK

Danger and deja vu: what 2011 can tell us about the US debt ceiling crisis

Congress appears to be facing its biggest debt standoff in years – and the consequences of default could be disastrous

The Guardian - US

Vivek Ramaswamy: Why He's Running for President—and Against 'Woke Capitalism'

The Capitalist Punishment author explains his America First 2.0 agenda, how to fix America's identity crisis, and why he no longer calls himself a libertarian.

Reason

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Zenger

Phone Phising Scams Stole More Than $29 Billion From Americans, New Report Says

Even corporate accounting departments lost some $1.2 billion this past year to vishing calls.

Salon

House GOP passes debt "sabotage" bill

"This is completely unworkable," Rep. Pramila Jayapal says

Kiplinger

How to Financially Get Through A Layoff

Losing your job can be traumatic, but it doesn’t have to wreck your finances.

The Independent UK

House Republicans pressure Biden as they vote to raise debt ceiling in exchange for spending cuts

The House voted 217-215 along party lines to raise the debt ceiling by $1.5 trillion

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The Independent UK

Ex-Harvard prof sentenced, fined for lying about China ties

A former Harvard University professor convicted of lying to federal investigators about his ties to a Chinese-run science recruitment program and failing to pay taxes on payments from a Chinese university was sentenced Wednesday to supervised release and ordered to pay more than $83,000 in restitution and fines

The Independent UK

What's in the GOP bill to lift debt limit, cut spending

House Republicans are pushing their top priorities in a bill to raise the debt limit

Kiplinger

IRS Service Improvements Could Bring Faster Tax Refunds

Recent IRS improvements mean taxpayers could see faster tax refunds next year and beyond.

Tribune News Service

‘Excessive wealth disorder’: Should the ultra-rich pay more to help solve America’s problems?

Boosting taxes on America’s wealthiest people could bring in trillions of dollars to help the country solve its most pressing problems, according to Gabriela Sandoval, executive director of the non-profit Bay Area think tank Excessive Wealth Disorder Institute.

InsideEVs

Rivian R1T And R1S Join EVs Now Eligible For Partial US Tax Credit

After the US Treasury put out its US EV tax credit guidelines, which make most EVs ineligible for at least part of the credit, Rivian submitted new paperwork.

Tribune News Service

Hydrogen energy gets ready for its close-up as US funds flow

The hydrogen rush is on.

Kiplinger

Supreme Court to Decide if IRS Can Secretly Obtain Bank Records

Among other high-profile issues, the Supreme Court is considering a case involving taxpayer privacy and the IRS.

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