When older Americans earn above a certain income level, they are often taken aback to find they owe federal income taxes on their benefits.
Category: Internal Revenue Service
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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.
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At 30%, Solar Panel Tax Credits Are at a High Point for Now
For about the next decade, homeowners can take advantage of the U.S. tax code to save on installation and reduce their electric bills.
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IRS to Stop Surprise Visits to Homes and Businesses
The end of a decades-long practice comes amid political backlash and increasing threats to agents.