Negotiations to prevent a government default reaffirmed that the big drivers of future deficits are all off the table in a divided Washington.
Category: Internal Revenue Service
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401(k) Hardship Withdrawals Tick Up as Inflation Stays High
Retirement plan administrators are noting an uptick in hardship withdrawals. But taking that money out can harm your future financial security.
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Investors See Hope for a Debt Limit Deal
Stock and bond trading suggest that investors see an imminent deal to raise the debt limit and prevent the federal government from defaulting.
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How the Employee Retention Tax Credit Became a Magnet for Fraud
The Employee Retention Credit has spawned a cottage industry of firms claiming to help businesses access stimulus funds, often in violation of federal rules.
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An A.I.-Generated Picture Stokes a Stock Market Plunge
A stock sell-off driven by a since-debunked picture underscored fears about how artificial intelligence could be used for nefarious purposes with big consequences.
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JPMorgan’s Succession Plans for Jamie Dimon May Weigh on Investors
Revelations about rivals’ plans may prompt the bank’s shareholders to ask about who will replace Jamie Dimon at an annual investor gathering on Monday.
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When Will the U.S. Run Out of Cash? The Answer Is Complicated.
The federal government is essentially living paycheck to paycheck, making the X-date hard to pin down.
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I.R.S. Acknowledges Black Americans Face More Audit Scrutiny
The commissioner, Daniel Werfel, said the agency was working to correct unfairness in the enforcement of the tax code.
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U.S. Could Run Out of Cash by June 1, Yellen Warns
Janet L. Yellen, the Treasury secretary, called on Congress to raise or suspend the debt limit so the United States could continue paying its bills.
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Trickling Tax Revenue Complicates Debt Limit Talks
The Treasury Department’s ability to delay a default, the so-called X-date, hinges on how fast the money is coming in.
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You Can Still File Your 2019 Taxes if You’re Due a Refund
The forms were originally due in the early days of the pandemic. The I.R.S. estimates that 1.5 million people are owed money, but they must file by July 17.