The federal government is essentially living paycheck to paycheck, making the X-date hard to pin down.
Category: Internal Revenue Service
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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.
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U.S. Car Brands Will Benefit Most From Electric Vehicle Tax Breaks
Rules that take effect on Tuesday will limit the $7,500 credits to electric cars made domestically with minerals from the U.S. or trade allies.
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What to Do With Your Tax Refund, According to Experts
The average refund is down from last year, but still almost $3,000. One option experts recommend is stashing part of it for unexpected expenses.
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I.R.S. Unveils $80 Billion Plan to Overhaul Tax Collection
The 10-year strategy document outlines a focus on taxpayer services and enforcement efforts on the rich.
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Lobbyists Begin Chipping Away at Biden’s $80 Billion IRS Overhaul
The New York Times – Business:The tax preparation industry is alarmed over the prospect that the Internal Revenue Service will devise its own free tax-filing system.
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Senate Confirms Daniel Werfel as IRS Commissioner
The New York Times – Business:The new commissioner of the Internal Revenue Service will oversee the agency’s $80 billion overhaul.
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IRS Decision Not to Tax Certain Payments Carries Fiscal Cost
The New York Times – Business:The Biden administration has opted not to tax state payments to residents, a decision that could add to the nation’s fiscal woes.