Category: Internal Revenue Service

Biden to Nominate Former Obama and Bush Official to Lead IRS Overhaul

The New York Times – Business:
If confirmed by the Senate, Daniel Werfel will oversee an $80 billion revamp of the tax agency.
I.R.S. Gets Interim Leader at Pivotal Moment for Tax Collector

The New York Times – Business:
The White House has yet to nominate a full-time commissioner as the agency embarks on an $80 billion overhaul.
Here Are the 401(k) Contribution Limits for 2023

The New York Times – Business:
The I.R.S. announced one of its largest increases in decades to caps on retirement contributions, allowing workers with access to the plans to save more.
Your Paycheck Next Year Will Be Affected by Inflation. Here’s How.

The New York Times – Business:
If you get a raise, you may not end up in a higher tax bracket. But more of your income may be subject to Social Security taxes. And you’ll probably pay more for health care.
IRS Releases Inflation-Adjusted Tax Rates for 2023

The New York Times – Business:
Filers whose salaries have not kept pace with inflation could see savings on their federal income tax bills.
Looming Leadership Void at I.R.S. Raises Concerns Over $80 Billion Overhaul

The New York Times – Business:
Former commissioners warn that delays in nominating a new commissioner raise the prospect that transformation efforts will fail.

Biden to Nominate Former Obama and Bush Official to Lead IRS Overhaul