The I.R.S.’s Taxpayer Advocate Service found that many of those affected were lower-income people who depended on refunds to cover living costs. The wait is “ridiculous,” the head of the service said.
Category: Income Tax
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MicroStrategy and Its Founder to Pay $40 Million in Tax Fraud Lawsuit
Michael Saylor did not pay any income taxes to Washington despite living there from 2005 through 2020, the attorney general for the District of Columbia said.
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FSA vs. HSA: What to Know About the Accounts to Pay Medical Costs
Flexible spending accounts and health savings accounts both have tax benefits, but both may also have drawbacks, two reports found.
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Thousands Are Eligible for Tax Refunds From 2020
The I.R.S. estimates that 940,000 people who didn’t file their returns for that year are due back money. The deadline for filing to get it is May 17.
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How Trump’s Justice Dept. Derailed an Investigation of a Major Company
The industrial giant Caterpillar hired William Barr and other lawyers to defuse a federal criminal investigation of alleged tax dodges.
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U.K. to Cut Taxes Again as Election Nears
The Conservative government, trailing badly in the polls, proposed the second tax cut in four months.
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A Tax Sunset Will Change What You Owe the I.R.S.
Important regulations expire at the end of next year, thwarting tax planning and creating a monumental fiscal challenge for Congress.
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U.S. Debt on Pace to Top $54 Trillion Over Next 10 Years
Congressional Budget Office projections released on Wednesday said a growing economy and recent spending cuts had slowed deficits.
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I.R.S. to Begin Trial of Its Own Free Tax-Filing System
Residents of 12 states are eligible to participate if they meet certain criteria. But the agency’s plans have already met resistance from tax preparation companies.
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How a Legal Fight Over a $15,000 Tax Bill Could Upend the U.S. Tax Code
The Supreme Court ruling in the Moore case could cost the federal government billions of dollars in lost tax revenue.