The big climate and health care bill passed by the House Friday includes billions in new funding for the IRS over the next decade. Most of that money is aimed at catching wealthy tax cheats.
U.S. Tax Commissioner Charles Rettig, who was appointed by President Trump in 2018, will face questions behind closed doors from lawmakers in the House and Senate before the end of the month.
Twelve days from now, you need to file your tax forms. Most of you will get a refund — the number changes, but the IRS says about 75% of tax filers got a refund in 2020.
The Biden administration hopes to help fund its agenda by cracking down on tax evasion, but its plan to require more bank information is drawing strong opposition from GOP lawmakers and banks.
Democrats will use the same budgetary process used four decades ago when first-year President Ronald Reagan used reconciliation to achieve his "revolution" in federal fiscal policy.
The debit cards can't be processed in prisons so inmates can't deposit their payments. The IRS has acknowledged the problem, but hasn't offered an immediate solution.
Earlier this year, the coronavirus pandemic prompted the U.S. Treasury Department and Internal Revenue Service to announce a historic three-month delay to the April Tax Deadline.
The improper payments happened due to confusion over whether dead people should receive the payments from the IRS, according to a report by the Government Accountability Office.
This applies to people who haven't received a payment and who haven't checked that the IRS has their information. Those who miss the deadine will get a paper check, which may not arrive until June.
The IRS said the economic relief payments "are going out on schedule, as planned, without delay." The Washington Post reported that Trump's name would be included on the checks, an unprecedented step.
The Treasury has begun sending $1,200 relief payments to people economically affected by the coronavirus. The IRS set up a website for those who haven't already supplied their bank information.
LAS VEGAS (AP) — A Las Vegas man who operated a tax return preparation business by nearly $440,000 has pleaded guilty to underreporting his own income on multiple tax returns.
The IRS says it is reviewing concerns about its Free File program after ProPublica reporting found that tax-prep companies made it difficult to find the program.
The agency's budget has been cut sharply over the past decade. That means fewer audits. The Trump administration says those cuts may have gone too far and it's seeking more money for tax enforcement.
Tax refunds so far have been smaller than last year's. Some taxpayers kept a bigger share of their income, but for others it reflects an overhaul that rewarded high earners the most.
Tax season is more stressful this year for filers and IRS workers alike, because of tax law changes and the partial government shutdown that has left the agency with roughly half its normal staff.
Three House and Senate committees have "the unqualified right" to request taxpayers' returns from the IRS. There's no provision exempting the president.
Because of a "high volume technical issue" that kept key services from functioning, the Internal Revenue Service will give taxpayers one more day, till midnight Wednesday, to get their paperwork in.
