The new commissioner of the Internal Revenue Service will oversee the agency’s $80 billion overhaul.
Category: Internal Revenue Service
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IRS Decision Not to Tax Certain Payments Carries Fiscal Cost
The Biden administration has opted not to tax state payments to residents, a decision that could add to the nation’s fiscal woes.
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You Can Use Your Tax Refund to Buy I Bonds, but Should You?
The answer depends on whether you’re looking to get high interest rates now or a safe investment with inflation protection over many years.
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Biden’s I.R.S. Nominee Will Be Grilled About $80 Billion Overhaul
Daniel Werfel is expected to defend the administration’s plan to modernize the agency at his confirmation hearing on Wednesday.
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I.R.S. Decides Most Special State Payments Are Not Taxable
The agency offered the guidance that it had asked millions of taxpayers in 21 states to wait for before filing their returns.
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I.R.S. Tells Millions Who Received State Rebates: Don’t File Just Yet
Tax season is underway. But the Internal Revenue Service is still figuring out whether the millions of taxpayers who received rebates last year should count them as taxable income.
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Black Americans Are Much More Likely to Face Tax Audits, Study Finds
A new report documents systemic discrimination in how the I.R.S. selects taxpayers to be audited, with implications for a debate on the agency’s funding.
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As Tax Season Starts, a Beleaguered I.R.S. Looks to Bolster Customer Service
The Biden administration is focusing on making the agency more responsive amid concerns that a funding increase will result in more audits.
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Your Tax Refunds May Be Smaller This Year
Credits that were expanded as part of pandemic relief have expired, as has the deduction for donations for people who don’t itemize.
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I.R.S. Backlogs Continue as Republicans Mount Offensive
The National Taxpayer Advocate expressed hope that better days were ahead for the tax collection agency.
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For Freelancers, New Federal Help in Saving for Retirement
The Secure 2.0 Act provides for direct government contributions to retirement accounts for low- and moderate-income workers, though that won’t start until 2027.