He projects slower increases in funding over 10 years with increases in wealth taxes. President Joe Biden released his proposed budget for the 2025 fiscal year on Monday.…
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IRS Offers New Electronic Tax Filing System
The IRS commissioner recently testified before a House committee regarding Direct File. The Internal Revenue Service (IRS) has released the pilot version of the agency’s updated electronic tax…
Read MoreIRS Improves Phone Service Levels in Current Tax Season
The agency seeks to show the efficacy of additional funding. The Internal Revenue Service (IRS) has shown improved phone response metrics as the tax season kicks off, reportedly…
Read MoreFTC Files Complaint Against H&R Block for Deceptive Marketing
The company also deleted users’ tax information when they sought a lower-cost filing option. The Federal Trade Commission (FTC) is pursuing action against H&R Block for deceptive marketing…
Read MoreIRS to Begin Audits of CEO Company Jet Use
The agency will review business expense claims for private travel. The Internal Revenue Service (IRS) announced that they are proceeding with tax audits to review the accuracy of…
Read MoreSwiss Bank Banque Pictet Admits Hiding Billions from IRS
The entity reached a $122.9 million agreement with the U.S. Treasury Department. The U.S. Department of the Treasury has come to a $122.9 million agreement with the private…
Read MoreIRS Seeks to Collect Back Taxes from Billionaires
The agency’s initiative is funded under the Inflation Reduction Act. The Internal Revenue Service (IRS) has launched an initiative to collect hundreds of millions of dollars in back…
Read MoreIRS Plans Fully Digital Tax Submissions for 2024
The agency expects to convert entirely to paperless processing by 2025. U.S. Treasury Secretary Janet Yellen announced that the Internal Revenue Service (IRS) will begin accepting digital tax…
Read MoreIRS Says 1.1 Million Returns Possibly Fraudulent
Senators also request IRS counter scams that defraud individual taxpayers. The Internal Revenue Service has flagged some 1.1 million 2022 tax returns for potential identity fraud requiring additional…
Read MorePresident Biden Releases 2022 Tax Return
He reported an income of $579,514 and paid $137,658 in federal income tax. President Joe Biden and First Lady Jill Biden released their 2022 federal tax reports, revealing…
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