Tax Day reveals a major split in how Joe Biden and Donald Trump would govern
Tax Day reveals a major split in how Joe Biden and Donald Trump would govern: The presidential candidates have conflicting ideas about how much to reveal about their own finances and the best ways to boost the economy through tax policy.
IRS launches direct file pilot program in Florida for the 2024 tax season โ here is how it works
With income tax filing season officially underway, a limited number of taxpayers in 12 states are now eligible to join an IRS pilot program that will allow them to calculate and submit their returns to the government directly without using commercial tax preparation software.
IRS expects to collect hundreds of billions more in overdue and unpaid taxes thanks to new funding
The IRS says it expects to collect hundreds of billions of dollars more in overdue and unpaid taxes than previously anticipated using funding provided to the agency by the Democratsโ Inflation Reduction Act.
The IRS is launching a direct file pilot program for the 2024 tax season โ here is how it will work
As tax filing season officially starts Monday, a limited number of taxpayers in 12 states will soon be eligible for a program that will allow them to calculate and submit their returns directly to the IRS without having to pay for commercial tax preparation software.
Ex-IRS contractor gets five years in prison for leak of tax return information of Trump, rich people
A former contractor for the Internal Revenue Service who pleaded guilty to leaking tax information to news outlets about former President Donald Trump and thousands of the countryโs wealthiest people was sentenced to five years in prison on Monday.
Ex-IRS contractor pleads guilty in leak of tax return information of Trump, wealthy people
A former contractor for the Internal Revenue Service charged with leaking tax information to news outlets about former President Donald Trump and thousands of the countryโs wealthiest people pleaded guilty Thursday in an agreement with prosecutors.
IRS steps toward a new free-file tax return system have both supporters and critics mobilizing
Plans by the IRS to test a new electronic free-file tax return system next year have got supporters and critics of the idea mobilizing over whether the government should set up a permanent program to help people file their taxes without needing to pay somebody else to figure out what they owe.
Republicans get their IRS cuts; Democrats say they expect little near-term impact
While Republicans seek to make good on campaign promises to cut IRS funding through the proposed debt ceiling and budget cuts package now moving through Congress, Democrats are offering assurances that the spending cuts will have little impact on the federal tax collector.
IRS to send next round of stimulus payments this week
Officials at the Treasury Department and Internal Revenue Service said Friday, March 12, 2021 that processing the new round of stimulus payments has already begun, with the aim of having the first payments start showing up in bank accounts this weekend. (AP Photo/Matt Rourke, File)The second batch of COVID-19 stimulus checks will be issued this week, the Biden administration announced Monday. The payments of up to $1,400 per person began disbursement earlier this month after President Biden signed the $1.9 trillion Covid relief bill into law. Families will receive an additional $1,400 per dependent, so a couple with two children could receive up to $5,600. Unlike prior rounds, families will now receive the additional money for adult dependents over the age of 17.
IRS will delay tax filing due date until May 17
The IRS will delay the traditional April 15 tax filing due date until May 17, 2021, to cope with added duties and provide Americans more flexibility. The Internal Revenue Service says it's delaying the traditional tax filing deadline from April 15 until May 17. The pandemic hit in the middle of last year's tax filing season, setting the agency back in terms of processing. AdโNever before has the law changed so substantially in the middle of tax filing season," Patrick Thomas, director of Notre Dame Law Schoolโs Tax Clinic, said in a statement. A number of lawmakers and professionals from the tax community have urged the tax filing season be extended to accommodate for these pressures.
Stimulus payments are coming, so scammers could be coming for your money
โWith many Americans set to receive direct payments from the federal government, we expect scammers will devise schemes to exploit the massive spending to trick recipients into parting with personal or financial information,โ Moody said. To view Scams at a Glance: Stimulus Payments in English, click here . To view Scams at a Glance: Stimulus Payments in Spanish, click here . To view Scams at a Glance: Coronavirus Scams in English, click here . To access Moodyโs Scams at a Glance webpage, click here .
IRS says new round of COVID relief payments on the way
โThe payments will be delivered automatically to taxpayers even as the IRS continues delivering regular tax refunds,โ IRS Commissioner Chuck Rettig said in a statement. The relief measure, which passed on party-line votes in both the House and Senate, contains the third round of economic-impact payments. The first round passed last spring provided up to $1,200 per individual, and a second round of payments in December provided up to $600 per individual. The latest round of relief payments will provide households with $1,400 for each adult, child and adult dependent, such as college students or elderly relatives. AdOfficials said they wanted to handle the payments this way rather than waiting for the 2020 tax return to be filed in the interest of speeding payments to taxpayers.