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The Latest Breaking News from IRS

All the new funding that congressional Democrats and President Joe Biden showered on the IRS has the tax agency thinking big. That should worry taxpayers.

Tribune News Service

Biden, McCarthy will attempt to salvage debt limit deal

President Joe Biden and Speaker Kevin McCarthy plan to meet Monday afternoon to discuss how to raise the debt limit after a weekend of negotiations by proxies left each side accusing the other of throwing up new roadblocks to a deal.

Tribune News Service

Supreme Court: Yes, the IRS Can Secretly Obtain Your Bank Records

The Supreme Court has sided with the IRS in a case that involves owing the IRS money, taxpayer privacy, and notice.

Kiplinger

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725,000 people left California in 2020. Which states did they move to?

The most common destinations for California migrants were Texas, Arizona, and Nevada.

USAFacts

Bombay HC continues relief for Sameer Wankhede till June 8, takes his undertaking of not making press statements or tampering with witnesses

MUMBAI: Sameer Wankhede, the former Narcotics Control Bureau (NCB) zonal director in Mumbai accused by the Central Bureau of Investigation (CBI) in an alleged Rs 25 crore extortion and corruption case can continue to breathe easy till June 8.

The Times of India

Biden, McCarthy will attempt to salvage debt limit deal - Roll Call

President Joe Biden and Speaker Kevin McCarthy meet Monday to discuss how to raise the debt limit after a weekend of talks by proxies.

Roll Call

Big News: IRS officer arrested in Delhi for harassing a senior woman IAS, FIR registered

An IRS officer arrested in New Delhi for allegedly stalking and harassing a woman IAS, FIR registered at Parliament Street PS under sections 354D, 354, 506 IPC. More details on Dynamite News:

Dynamite News

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Will AI Violate Taxpayer Rights?

When the IRS uses AI, will it violate your rights as a taxpayer (or your rights as a human being)?

Kiplinger

IRS granted tax-exempt status to extremists, including an Oath Keepers foundation – here’s why that’s not as surprising as it sounds

When someone mentions nonprofits, chances are you picture homeless shelters, free medical clinics, museums and other groups that you believe are doing good one way or another.

The Conversation

Will an IRS Tax Prep Service Replace H&R Block or TurboTax?

IRS Direct File has some wondering if people will leave H&R Block and TurboTax and let the IRS do their taxes.

Kiplinger

IRS chief says agency is 'deeply concerned' by higher audit rates for Black taxpayers

Findings from an internal investigation come after researchers said the IRS was at least three times more likely to audit Black taxpayers than other racial groups.

WEKU

IRS moves forward with free e-filing system in pilot program to launch in 2024

The IRS is planning to launch a pilot program for a government-run, online tax filing system that’s free for all

The Independent UK

The IRS is building its own online tax filing system. Tax-prep companies aren't happy

The IRS is working to develop its own free electronic tax-filing system in a potential challenge to commercial products such as TurboTax. The agency plans a pilot test of the program next year.

WEKU

The IRS is working on a TurboTax alternative to make filing your taxes easier

Free IRS software for filing your tax returns could topple TurboTax at last, but it may take years to reach everybody.

TechRadar

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Barchart

Stocks Close Higher on Hopes for U.S. Debt Ceiling Resolution

What you need to know… The S&P 500 Index ($SPX ) (SPY ) Monday closed up +0.30%, the Dow Jones Industrials Index ($DOWI ) (DIA ) closed up +0.14%, and the Nasdaq 100 Index ($IU ) (QQQ ) closed up +0.55%. Stock indexes Monday closed moderately higher on hopes that...

Reason

Simplify the Tax Code Instead of Creating an IRS Rival to TurboTax

Americans collectively spend billions of hours each year preparing their taxes. Rather than adding a government-run website into the mix, politicians should just simplify the tax code.

Barchart

Stocks Rise on Optimism About the Debt Ceiling

The S&P 500 Index ( $SPX ) ( SPY ) is up +0.09%, the Dow Jones Industrials Index ( $DOWI ) ( DIA ) is up +0.01%, and the Nasdaq 100 Index ( $IUXX ) ( QQQ ) is up +0.35%. U.S. stock index futures this morning are moderately higher...

Barchart

Stocks Mixed as Hawkish Fed Comments Push Bond Yields Higher

What you need to know… The S&P 500 Index ($SPX ) (SPY ) today is up +0.03%, the Dow Jones Industrials Index ($DOWI ) (DIA ) is down -0.05%, and the Nasdaq 100 Index ($IUXX ) (QQQ ) is up +0.05%. U.S. stocks this morning gave up an early advance...

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Fortune

Would you trust the IRS to prepare your taxes? Upcoming report could lead to government-run tax prep option

Pending report could set off a number of fights.

The Guardian - US

Mormon church has $100bn ‘clandestine hedge fund’, says whistleblower

Former church investment manager claims funds were intended for charity work but spent on for-profit initiatives as a tax dodge

Barchart

Markets Today: Stocks Slide Despite Optimism About the Debt Ceiling

The S&P 500 Index ( $SPX ) ( SPY ) is down -0.31%, the Dow Jones Industrials Index ( $DOWI ) ( DIA ) is down -0.35%, and the Nasdaq 100 Index ( $IUXX ) ( QQQ ) is down -0.11%. U.S. stock index futures this morning are moderately lower...

Barchart

Markets Today: Stocks Climb on Debt Ceiling Optimism

Morning Markets June E-Mini S&P 500 futures (ESM2 3) this morning are up +0.17%, and June Nasdaq 100 E-Mini futures (NQM2 3) are up +0.15%. U.S. stock index futures this morning are moderately higher on hopes a deal on the debt ceiling can be reached. President Biden will reconvene with...

Reason

It's Been 10 Years Since the IRS's Tea Party Scandal. Will Congress Finally Act?

The partisan and constitutional dangers of letting the IRS police speech are simply too great.

Roll Call

Santos isn’t the first member of Congress indicted. Here’s how others ended up - Roll Call

Here's what happened in past cases of members of Congress who were indicted in office, as New York Republican George Santos was Wednesday.

The Independent UK

Federal bank records emerge as focus of GOP's Biden probes

House Republicans are facing growing pressure to show progress in their investigations

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