The Biden administration is focusing on making the agency more responsive amid concerns that a funding increase will result in more audits.
Category: Internal Revenue Service
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As Tax Season Starts, a Beleaguered I.R.S. Looks to Bolster Customer Service
The New York Times – Business: -
Your Tax Refunds May Be Smaller This Year
The New York Times – Business: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 New York Times – Business: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 New York Times – Business: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.
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Trump Tax Returns Undermine His Image as a Successful Entrepreneur
The New York Times – Business:The release of former President Donald J. Trump’s private tax documents by the House Ways and Means Committee shows heavy losses from his own ventures as he continued to cash in on inherited assets.
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Trump Tax Returns Released by House Democrats
The New York Times – Business:The publication of former President Donald J. Trump’s private tax documents comes amid questions about why the I.R.S. failed to fully audit him during his presidency.
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Treasury Department Outlines Rules for New Corporate Taxes
The New York Times – Business:The preliminary guidance applies to an alternative minimum tax for large corporations and a tax on stock buybacks, which helped fund President Biden’s climate and health bill.
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I.R.S. Delays Tax Change for Users of Venmo, Cash App and Other Digital Wallets
The New York Times – Business:Users who receive income through digital payments will have another year before having to comply with a new tax rule that had sowed confusion and concern.
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Trump’s Tax Audit Shows Depths of IRS Funding Woes
The New York Times – Business:The agency lacks the resources to go after rich taxpayers. For years, a single revenue agent was responsible for the audits of Donald J. Trump.
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I.R.S. Routinely Audited Obama and Biden, Raising Questions Over Delays for Trump
The New York Times – Business:The revelation that the agency had not audited Donald J. Trump during his first two years in office despite a mandatory presidential audit program raised concerns about potential politicization.
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New I.R.S. Rules for Online Sales Sow Fears About Surprise Tax Bills
The New York Times – Business:Users of digital wallets and e-commerce platforms like Venmo, CashApp, Etsy and StubHub must start reporting small transactions.
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Would Elon Musk Actually Step Down as Twitter’s C.E.O.?
The New York Times – Business:The Twitter owner has said he will resign as chief executive, but it’s far from certain whether he would actually step down as the boss.