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.
Category: Internal Revenue Service
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I Spent New Year’s Eve Trying to Do the FAFSA. It Didn’t Go Well.
The new, simplified version of the college student aid form was supposed to become available in December. It was, kind of, for some people.
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U.S. Moves to Crack Down on Money Behind Fentanyl Trade
Treasury Secretary Janet L. Yellen will travel to Mexico this week for talks on countering illicit finance and fentanyl.
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Peter Schiff Will Receive Settlement to End His Defamation Suit
The money manager had sued an Australian media company that reported on a tax investigation into his bank, Euro Pacific.
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Users of Venmo, Cash App and Other Digital Wallets Get a Tax Reprieve
The Biden administration has faced backlash from small-business owners who called the new I.R.S. reporting requirements confusing and onerous.
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Higher Contribution Limits Are Coming for 401(k) Retirement Plans
But, financial advisers note, most people cannot afford to set aside the maximum amount. “This is a system geared for high earners,” one expert said.
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How to Take Advance of Your Health Savings Account
Insurance plans with high deductibles may seem unappealing, but the savings accounts that often come with them offer significant tax benefits.
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I.R.S. Contractor Charged With Leaking Tax Returns
The federal charges are said to involve disclosure of tax information from Donald Trump and other wealthy taxpayers.
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U.S. National Debt Tops $33 Trillion for First Time
The fiscal milestone comes as Congress is facing a new spending fight with a government shutdown looming.
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I.R.S. Freezes Pandemic-Era Tax Credit Amid Fraud Fears
The tax agency is ramping up audits and criminal investigations into unscrupulous promoters of the Employee Retention Credit.
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I.R.S. Deploys Artificial Intelligence to Target Rich Partnerships
The tax agency is opening examinations into large hedge funds, private equity groups, real estate investors and law firms.