The department moves to address the “basis shifting” of business partnerships to lower tax brackets. The Treasury Department proposed new rules this week to hold high-profile tax evasion…
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House Committee Requests Chamber of Commerce Documents
The lobbying group reportedly received funding from a billionaire. The House Ways and Means Committee sent a letter to the U.S. Chamber of Commerce this week, requesting tax…
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IRS Exceeds Taxpayer Assistance Response Goals
Secretary Yellen seeks to maintain Congressional investment. The Internal Revenue Service (IRS) said this week that the agency exceeded its taxpayer response goals for the year. They attribute…
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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…
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IRS 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…
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FTC 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…
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IRS 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…
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Senate Committee Chair Critiques Billionaire Life Insurance Plans
Senator Wyden decries the expense plans acting as legal tax havens for the ultra-wealthy. The Senate Finance Committee released a report this week after an 18-month investigation into…
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New House Bill Would Tax University Endowments
Legislation motivated in part by recent antisemitism. Some members of the House and Senate have expressed concerns surrounding the massive endowments colleges and universities receive from private donors…
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IRS Answers 2.4 Million More Phone Calls in 2023
An increase in funding results in 5,000 additional staff hired. The Department of the Treasury released updated statistics this week about the performance of the Internal Revenue Service…
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