As Tax Season Starts, a Beleaguered I.R.S. Looks to Bolster Customer Service

The Biden administration is focusing on making the agency more responsive amid concerns that a funding increase will result in more audits.

#biden-joseph-r-jr, #customer-relations, #house-of-representatives, #inflation-reduction-act-of-2022, #internal-revenue-service, #law-and-legislation, #republican-party, #tax-evasion, #taxation, #united-states-politics-and-government

And Now a Few Words About How Power Makes You Weird

From the royal family to the House of Repesentatives, it’s been a strange week.

#biden-joseph-r-jr, #classified-information-and-state-secrets, #great-britain, #harry-duke-of-sussex, #house-of-representatives, #internal-revenue-service, #markle-meghan, #montecito-calif, #republican-party, #royal-families, #special-prosecutors-independent-counsel, #united-states, #united-states-politics-and-government

Your Tax Refunds May Be Smaller This Year

Credits that were expanded as part of pandemic relief have expired, as has the deduction for donations for people who don’t itemize.

#child-tax-credits-and-stipends, #content-type-service, #income-tax, #internal-revenue-service, #personal-finances, #rebates-and-refunds, #tax-credits-deductions-and-exemptions

I.R.S. Backlogs Continue as Republicans Mount Offensive

The National Taxpayer Advocate expressed hope that better days were ahead for the tax collection agency.

#high-net-worth-individuals, #inflation-reduction-act-of-2022, #internal-revenue-service, #taxpayer-advocate-service, #united-states-politics-and-government

Election Deniers Are Also Economy Deniers

There’s no recession yet, and inflation is falling.

#consumer-price-index, #federal-budget-us, #house-of-representatives, #inflation-economics, #internal-revenue-service, #recession-and-depression, #republican-party, #tax-evasion, #united-states-economy, #united-states-politics-and-government

House Republicans Will Try to Rescind I.R.S. Funding

Their first legislative move will seek to cut billions in funding that Democrats passed last year to help the agency crack down on tax cheats.

#congressional-budget-office, #house-committee-on-ways-and-means, #house-of-representatives, #inflation-reduction-act-of-2022, #internal-revenue-service, #republican-party, #tax-evasion, #united-states-politics-and-government

What the Far-Right Republicans Want: To Remake Congress and the Government

At the heart of the speakership battle is a right-wing push for more influence.

#biggs-andy-1958, #gosar-paul-1958, #house-freedom-caucus, #house-of-representatives, #internal-revenue-service, #mccarthy-kevin-1965, #republican-party, #united-states-politics-and-government

Trump Tax Returns Undermine His Image as a Successful Entrepreneur

The release of former President Donald J. Trump’s private tax documents by the House Ways and Means Committee shows heavy losses from his own ventures as he continued to cash in on inherited assets.

#conflicts-of-interest, #house-committee-on-ways-and-means, #income-tax, #internal-revenue-service, #tax-credits-deductions-and-exemptions, #tax-cuts-and-jobs-act-2017, #tax-evasion, #trump-tax-returns, #trump-donald-j, #united-states-politics-and-government

Trump Tax Returns Released by House Democrats

The publication of former President Donald J. Trump’s private tax documents comes amid questions about why the I.R.S. failed to fully audit him during his presidency.

#conflicts-of-interest, #house-committee-on-ways-and-means, #income-tax, #internal-revenue-service, #tax-evasion, #trump-tax-returns, #trump-donald-j, #united-states-politics-and-government

I.R.S. Delays Tax Change for Users of Venmo, Cash App and Other Digital Wallets

Users who receive income through digital payments will have another year before having to comply with a new tax rule that had sowed confusion and concern.

#e-commerce, #income-tax, #internal-revenue-service, #mobile-commerce-and-payments

Trump’s Tax Audit Shows Depths of IRS Funding Woes

The agency lacks the resources to go after rich taxpayers. For years, a single revenue agent was responsible for the audits of Donald J. Trump.

#high-net-worth-individuals, #house-committee-on-ways-and-means, #internal-revenue-service, #tax-evasion, #taxation, #trump-tax-returns, #trump-donald-j, #united-states-politics-and-government

I.R.S. Routinely Audited Obama and Biden, Raising Questions Over Delays for Trump

The revelation that the agency had not audited Donald J. Trump during his first two years in office despite a mandatory presidential audit program raised concerns about potential politicization.

#house-committee-on-ways-and-means, #income-tax, #internal-revenue-service, #koskinen-john-a, #neal-richard-e, #rettig-charles-p, #trump-tax-returns, #trump-donald-j, #united-states-politics-and-government

Trump’s Taxes: Red Flags, Big Losses and a Windfall From His Father

The presidency of Donald J. Trump, a congressional report reveals, was marked by some of the same questionable tax maneuvers that had characterized his business career.

#house-committee-on-ways-and-means, #income-tax, #internal-revenue-service, #joint-committee-on-taxation, #starrett-city-brooklyn-ny-apartments, #tax-credits-deductions-and-exemptions, #tax-evasion, #trump-organization, #trump-tax-returns, #trump-university, #trump-donald-j, #trump-donald-j-jr, #trump-eric-f-1984, #trump-fred-c, #trump-ivanka

How New IRS Rules Could Affect Venmo, Zelle and CashApp Users

Users of digital wallets and e-commerce platforms must start reporting small transactions, sowing fears among small-business owners.

#american-rescue-plan-2021, #e-commerce, #income-tax, #internal-revenue-service, #law-and-legislation, #mobile-commerce-and-payments, #treasury-department

Would Elon Musk Actually Step Down as Twitter’s C.E.O.?

The Twitter owner has said he will resign as chief executive, but it’s far from certain whether he would actually step down as the boss.

#adidas-ag, #appointments-and-executive-changes, #bank-of-japan, #bankman-fried-sam, #biden-joseph-r-jr, #european-commission, #exxon-mobil-corp, #fedex-corporation, #hk-ftx-trading-ltd-futures-exchange, #internal-revenue-service, #kushner-jared, #musk-elon, #nike-inc, #puma-ag, #salt-bae-chef, #tesla-motors-inc, #trump-donald-j, #twitter, #wells-fargocompany, #youtube-com, #zelensky-volodymyr

I.R.S. Delayed Auditing Trump in Office Despite Mandate, House Panel Finds

Mr. Trump refused to disclose his taxes. A committee’s vote to release them ended an oversight battle Democratic lawmakers waged since 2019.

#brady-kevin-1955, #democratic-party, #house-committee-on-ways-and-means, #house-of-representatives, #internal-revenue-service, #neal-richard-e, #trump-tax-returns, #trump-donald-j, #united-states-politics-and-government

Trump Paid $1.1 Million in Taxes During Presidency, but $0 in 2020, Report Shows

The former president reported a burst of income after entering the Oval Office, but by the end of his term, his tax filings had reverted to large losses, according to data released by a House panel.

#house-committee-on-ways-and-means, #income, #income-tax, #internal-revenue-service, #trump-tax-returns, #trump-donald-j, #united-states-politics-and-government

House Committee Will Vote on Making Trump’s Taxes Public

The Ways and Means Committee’s vote is expected to end a battle that Democrats in the House have been waging since 2019, when they began trying to perform oversight of then President Donald J. Trump.

#brady-kevin-1955, #democratic-party, #house-committee-on-ways-and-means, #house-of-representatives, #internal-revenue-service, #neal-richard-e, #trump-tax-returns, #trump-donald-j, #united-states-politics-and-government

Release of Trump Tax Returns Could Herald New Era for Taxpayer Privacy

Revealing private documents risks a tit for tat with Republicans set to retake control of the House of Representatives.

#conflicts-of-interest, #house-committee-on-ways-and-means, #internal-revenue-service, #privacy, #trump-tax-returns, #trump-donald-j, #united-states-politics-and-government

House Committee Takes Step Toward Potential Release of Trump’s Tax Data

The Ways and Means Committee announced a closed-door meeting next week at which it may vote to disclose the information.

#house-committee-on-ways-and-means, #internal-revenue-service, #justice-department, #neal-richard-e, #supreme-court-us, #trump-tax-returns, #trump-donald-j, #united-states-politics-and-government

Project Veritas Says It Provided $20,500 in ‘Excess Benefit’ to Its Founder

The conservative nonprofit said it had paid for staff to accompany its founder, James O’Keefe, when he starred in a 2021 production of “Oklahoma!”

#federal-taxes-us, #internal-revenue-service, #nonprofit-organizations, #okeefe-james-e-iii, #project-veritas, #united-states-politics-and-government

Michael Avenatti Gets 14-Year Sentence for Stealing Millions From Clients

The former lawyer for Stormy Daniels was found guilty of stealing money from four clients and of obstructing I.R.S. efforts to collect more than $3 million in unpaid payroll taxes.

#avenatti-michael, #clifford-stephanie-1979, #frauds-and-swindling, #internal-revenue-service, #justice-department, #payroll-tax

Report Suggests Tax Audits of Trump Foes Were Random, but Leaves Questions

The I.R.S.’s inspector general said that returns from James Comey and Andrew McCabe were initially part of a randomly generated pool, but that a flaw in the final winnowing required further attention.

#comey-james-b, #ethics-and-official-misconduct, #house-committee-on-ways-and-means, #internal-revenue-service, #mccabe-andrew-g, #neal-richard-e, #trump-donald-j, #united-states-politics-and-government

House Committee Obtains Access to Trump’s Tax Returns, Ending Long Fight

The Supreme Court last week declined to block the Treasury Department from giving the data to the House in the waning weeks of Democratic control.

#house-committee-on-ways-and-means, #house-of-representatives, #internal-revenue-service, #neal-richard-e, #supreme-court-us, #treasury-department, #trump-tax-returns, #trump-donald-j, #united-states-politics-and-government

Major tax-filing websites secretly share income data with Meta

Major tax-filing websites secretly share income data with Meta

Enlarge (credit: Drew Angerer / Staff | Getty Images News)

Here to add another layer of dread ahead of the upcoming tax season, The Markup reported that some of the biggest online e-filing services—unbeknownst to millions of users—have been sharing sensitive user financial information with Meta. Some services linked user names and email addresses with detailed information like income, refund amounts, filing status, and even the amount of dependents’ college scholarships.

These services include H&R Block, TaxAct, and TaxSlayer, which transmit data via a tool that Meta provides for businesses called the Meta Pixel. The Markup published the data sent to Meta by these companies, which it confirmed was sometimes generated and shared “regardless of whether the person using the tax filing service has an account on Facebook” or other Meta service.

Meta provides the Meta Pixel as a code that businesses can customize and embed on their websites to gather information to help businesses improve targeted marketing campaigns on Meta platforms. In return for this service, Meta gets to use the shared data to drive its own algorithms in its mission to know just about everything that can be known about its own users.

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#google, #google-analytics, #internal-revenue-service, #meta, #meta-pixel, #policy, #taxpayer

Todd and Julie Chrisley, Reality TV Stars, Are Sentenced to Prison for Fraud and Tax Evasion

The stars of “Chrisley Knows Best” were convicted in June of conspiring to defraud banks out of more than $30 million and evading taxes for several years.

#atlanta-ga, #banking-and-financial-institutions, #chrisley-julie-1973, #chrisley-todd-1969, #frauds-and-swindling, #internal-revenue-service, #reality-television, #tax-evasion

Trump Wanted I.R.S. Investigations of Foes, Top Aide Says

John F. Kelly, who was White House chief of staff, said that as president, Donald J. Trump wanted investigations into perceived enemies like James Comey, the former F.B.I. director.

#comey-james-b, #federal-bureau-of-investigation, #internal-revenue-service, #justice-department, #mccabe-andrew-g, #trump-donald-j, #united-states-politics-and-government

Kittens? Sex Toys? Pushing the Limits of Flexible Spending Accounts.

The deadline for spending the money in the health accounts is approaching, and people are stretching the definition of eligible expenses.

#content-type-service, #health-insurance-and-managed-care, #internal-revenue-service, #personal-finances

Biden to Nominate Former Obama and Bush Official to Lead IRS Overhaul

If confirmed by the Senate, Daniel Werfel will oversee an $80 billion revamp of the tax agency.

#appointments-and-executive-changes, #emergency-economic-stabilization-act-2008, #internal-revenue-service, #rettig-charles-p, #werfel-daniel-i, #yellen-janet-l

Biden’s Agenda Hangs in the Balance if Republicans Take Congress

On a wide array of issues like abortion, taxes, race and judges, President Biden’s opportunities would shrink as Republicans vow to dismantle much of his legislative accomplishments.

#abortion, #biden-joseph-r-jr, #consumer-financial-protection-bureau, #democratic-party, #federal-taxes-us, #global-warming, #house-of-representatives, #inflation-reduction-act-of-2022, #internal-revenue-service, #midterm-elections-2022, #race-and-ethnicity, #republican-party, #senate, #treasury-department, #united-states-politics-and-government

Here Are the 401(k) Contribution Limits for 2023

The I.R.S. announced one of its largest increases in decades to caps on retirement contributions, allowing workers with access to the plans to save more.

#401k-403b-and-457-plans, #internal-revenue-service, #labor-and-jobs, #pensions-and-retirement-plans, #retirement, #savings

Your Paycheck Next Year Will Be Affected by Inflation. Here’s How.

If you get a raise, you may not end up in a higher tax bracket. But more of your income may be subject to Social Security taxes. And you’ll probably pay more for health care.

#content-type-service, #health-insurance-and-managed-care, #income-tax, #inflation-economics, #internal-revenue-service, #labor-and-jobs, #medicare, #payroll-tax, #pensions-and-retirement-plans, #personal-finances, #social-security-us, #tax-credits-deductions-and-exemptions, #wages-and-salaries

IRS Releases Inflation-Adjusted Tax Rates for 2023

Filers whose salaries have not kept pace with inflation could see savings on their federal income tax bills.

#consumer-price-index, #food, #income, #income-tax, #inflation-economics, #internal-revenue-service, #tax-credits-deductions-and-exemptions, #tax-cuts-and-jobs-act-2017, #taxation

How a Hospital Chain Used a Poor Neighborhood to Turn Huge Profits

Bon Secours Mercy Health, a major nonprofit health system, used the poverty of Richmond Community Hospital’s patients to tap into a lucrative federal drug program.

#bon-secours-mercy-health, #emergency-medical-treatment, #federal-taxes-us, #finances, #hospitals, #income-inequality, #internal-revenue-service, #nonprofit-organizations, #your-feed-healthcare

I.R.S. to Refund Late-Filing Penalties for 2019 and 2020 Returns

But to be eligible for the relief, taxpayers have to file the returns by Sept. 30. The agency says the average refund will be $750.

#content-type-service, #coronavirus-2019-ncov, #income-tax, #internal-revenue-service, #personal-finances, #rebates-and-refunds, #tax-preparers-and-preparation, #taxpayer-advocate-service

Yoga Chain Was a Criminal Enterprise That Reaped Millions, Prosecutors Say

The founders of Yoga to the People, a once wildly successful business that closed in 2020, are accused of concealing their income from the Internal Revenue Service for years.

#internal-revenue-service, #manhattan-nyc, #sex-crimes, #tax-evasion, #yoga, #yoga-to-the-people

More Money for I.R.S. Spurs Conspiracy Theories of ‘Shadow Army’

The agency will receive $80 billion to hire new agents, modernize technology and expand enforcement as part of the new climate, health and tax law.

#inflation-reduction-act-of-2022, #internal-revenue-service, #united-states-politics-and-government

Prosecutors Struggle to Catch Up to a Tidal Wave of Pandemic Fraud

Investigators say there was so much fraud in federal covid-relief programs that — even after two years of work and hundreds of prosecutions — they’re still just getting started.

#coronavirus-aid-relief-and-economic-security-act-2020, #federal-aid-us, #federal-bureau-of-investigation, #frauds-and-swindling, #internal-revenue-service, #postal-service-us, #secret-service, #small-business-administration

What’s In the Climate, Tax and Health Care Bill

The bill includes billions in tax credits for the production of renewable energy, drug-pricing reforms and a boost for the I.R.S.

#drugs-pharmaceuticals, #global-warming, #greenhouse-gas-emissions, #internal-revenue-service, #senate, #tax-credits-deductions-and-exemptions, #united-states-economy, #united-states-politics-and-government

Analysis Deems Biden’s Climate and Tax Bill Fiscally Responsible

Despite Republican claims, the new legislation would be only a modest corporate tax increase, Congress’s Joint Committee on Taxation found.

#alternative-and-renewable-energy, #congressional-budget-office, #corporate-taxes, #drugs-pharmaceuticals, #federal-budget-us, #global-warming, #income-tax, #inflation-economics, #inflation-reduction-act-of-2022, #internal-revenue-service, #joint-committee-on-taxation, #law-and-legislation, #national-debt-us, #senate-committee-on-finance, #tax-credits-deductions-and-exemptions, #tax-cuts-and-jobs-act-2017, #tax-evasion, #united-states-economy, #united-states-politics-and-government

I.R.S. Asks Inspector General to Review Audits of Comey and McCabe

The tax agency said its commissioner asked the Treasury Department’s inspector general for tax administration to look into the audits after The Times raised questions about them.

#comey-james-b, #federal-bureau-of-investigation, #federal-taxes-us, #inspectors-general, #internal-revenue-service, #mccabe-andrew-g, #rettig-charles-p, #trump-donald-j, #united-states-politics-and-government

Officials Balked at a Drug Company’s Tax Shelter. Auditors Approved It Anyway.

Court documents show the potential conflicts of interest when accounting firms simultaneously help clients avoid taxes and audit their finances.

#accounting-and-accountants, #bdo-international, #conflicts-of-interest, #corporate-taxes, #ernstyoung, #federal-taxes-us, #internal-revenue-service, #perrigo-company, #securities-and-commodities-violations, #suits-and-litigation-civil, #tax-evasion, #tax-shelters, #taxation

Comey and McCabe, Two Trump Foes, Both Faced Intensive I.R.S. Audits

The former F.B.I. director and his deputy, both of whom former President Donald J. Trump wanted prosecuted, were selected for a rare audit program that the tax agency says is random.

#comey-james-b, #federal-bureau-of-investigation, #federal-taxes-us, #internal-revenue-service, #mccabe-andrew-g, #rettig-charles-p, #trump-donald-j, #united-states-politics-and-government

76 Fake Charities Shared a Mailbox. The I.R.S. Kept Approving More.

The tax agency is the gatekeeper for America’s charity system, but reduced vetting has opened the door to scams.

#american-cancer-society, #federal-taxes-us, #frauds-and-swindling, #ian-hosang, #internal-revenue-service, #nonprofit-organizations

The Federal Government Subsidizes Abortions. Will That Last?

Individuals can often use health insurance or flexible spending accounts to pay for abortions or deduct the cost on tax returns. Congress might weigh in.

#abortion, #content-type-service, #corporate-taxes, #dobbs-v-jackson-womens-health-organization-supreme-court-decision, #federal-taxes-us, #health-insurance-and-managed-care, #internal-revenue-service, #tax-credits-deductions-and-exemptions

On Tax Day, Treasury Makes a Plea For More IRS Funding

The Biden administration continues to push for $80 billion in new funding for the tax collection agency.

#biden-joseph-r-jr, #federal-taxes-us, #internal-revenue-service, #rebates-and-refunds, #sarin-natasha, #united-states-economy, #united-states-politics-and-government

How to Save on Your Taxes and Other Last-Minute Tax Tips

You may still be able to reduce your tax bill by contributing to an I.R.A., for instance. And if you have questions, the I.R.S. is offering free walk-in help on Saturday.

#content-type-service, #federal-taxes-us, #income-tax, #individual-retirement-accounts, #internal-revenue-service, #personal-finances, #tax-credits-deductions-and-exemptions, #tax-preparers-and-preparation

Paying Taxes in 2022: What You Need to Know

Did you make money on GameStop? Miss a stimulus payment? Have a student loan forgiven? Let our guide fill you in.

#content-type-service, #federal-taxes-us, #income-tax, #internal-revenue-service, #student-loans, #tax-credits-deductions-and-exemptions, #unemployment-insurance

As Home Sale Prices Surge, a Tax Bill May Follow

Single sellers can exclude $250,000 from their taxable profit and married sellers $500,000. The amounts haven’t changed in 25 years.

#capital-gains-tax, #content-type-service, #federal-taxes-us, #internal-revenue-service, #personal-finances, #real-estate-and-housing-residential

Amid Russia Invasion, I.R.S. Aims to Police Oligarch Sanctions

It wants to add agents to a 3,000-person investigations unit to help crack down on attempts by Russian oligarchs to evade sanctions.

#embargoes-and-sanctions, #internal-revenue-service, #rettig-charles-p, #russian-invasion-of-ukraine-2022, #united-states-politics-and-government