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…
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Treasury Reports $129 Billion Brought In on Tax Day
Financial analysts watching 2022 tax receipts closely. The Department of the Treasury released the daily financial statement for the annual tax filing deadline last week, showing a total…
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Senate Confirms IRS Commissioner
He had been the acting commissioner. The Senate confirmed Danny Werfel on Thursday as the Commissioner of the Internal Revenue Service. During his hearing in February, Werfel said,…
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Labor Department Finalizes Secure Act Implementation
Assistant secretary for benefits announces changes to 5500 Annual Return Form. The Department of Labor announced changes to the 2023 Form 5500 Annual Return/Report of Employee Benefit Plan.…
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House Committee Obtains Former President’s Tax Records
Supreme Court refuses to block access to President Trump’s taxes. The Ways and Means Committee of the House of Representatives received clearance for the 2015 to 2020 tax…
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Chief Justice Issues Temporary Block of House Request
Congressional committee cannot access President Trump’s tax records while a review occurs. Supreme Court Chief Justice John Roberts temporarily blocked the House Ways and Means Committee from accessing…
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IRS Hires 4,000 Customer Service Reps
Being trained in taxpayer rights and technical account management. The Internal Revenue Service announced that 4,000 additional customer service representatives have been hired and are being trained to…
Read MoreIRS to Increase Standard Deductions for 2023
They are responding to pressures of inflation. The Internal Revenue Service announced Tuesday that it is raising the income threshold for all tax brackets and will also increase…
Read MoreIRS To Clear 2021 Backlog This Week
Treasury secretary calls for additional funding as the service continues to struggle. The Internal Revenue Service (IRS) said on Tuesday that, by the end of this week, they…
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IRS to Raise Interest Rates in April
They set new rates every quarter per federal code. As of Friday, April 1, interest rates on amounts due to the Internal Revenue Service will increase for the…
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