Category: Internal Revenue Service

Trump Dangles Cash Payments to Assuage Affordability Concerns

With tariffs unpopular and prices still high, the White House has teased the promise of tariff rebates and large tax refunds next year.
Should You Donate to Charity This Year or Wait? It Depends.

Changes in the tax law will have different effects on people who take the standard deduction versus high earners who itemize.
Elon Musk’s Foundation Grows to $14 Billion, but Gives Little to Outsiders

The philanthropy has become one of America’s biggest, but most of its giving went to charities closely tied to the world’s richest man.
For ‘No Tax on Tips,’ the I.R.S. Gets Intimate

The Trump administration wants to exclude earnings from “pornographic activity” from a new tax break for tips. Will the I.R.S. know it when it sees it?
Judge Places Hold on IRS Data Sharing With ICE

A judge halted a federal deportation effort Friday, writing that the tax agency had illegally disseminated the data of some migrants.
The I.R.S. Tried to Stop This Tax Dodge. Scott Bessent Used It Anyway.

Like many on Wall Street, Treasury Secretary Scott Bessent used a limited partnership to avoid Medicare taxes. Unlike the others, he’s now overseeing the I.R.S.
How the Trump Administration Is Giving Even More Tax Breaks to the Wealthy

The Treasury Department and Internal Revenue Service are issuing rules that provide hundreds of billions of dollars in tax relief to big companies and the ultrarich.
I.R.S. Suspends Free Online Offering to File Taxes Directly

The new program, Direct File, helped low- and moderate-income taxpayers file their returns more easily, and had been expanding.
A Top Trump Official Had to Sell His Stock. He May Have Saved Millions.

Frank Bisignano, who holds top jobs at the Social Security Administration and the I.R.S., sold his stake in Fiserv before the company’s stock cratered this week.
Bessent Taps Social Security Chief to Serve as C.E.O. of I.R.S.

Frank Bisignano, who already leads the Social Security Administration, will also take on the day-to-day duties of the tax collector.
Trump’s Tax Cut Is Underwater. Can a ‘Refund Boom’ Save It?

Republicans are hoping a new name, along with larger refunds for many Americans next year, can buoy an economic agenda that polls show is unpopular.
IRS Official Sues Agency, Accusing It of Leaking Private Data to Fox News and Others

Holly Paz was among officials scrutinizing tax shelters before she was placed on leave and Fox News reported she had been fired.