The Direct File system will be open to millions of taxpayers in 25 states, up from 12 last year. But it’s unclear what will happen to the program next year.
Category: Internal Revenue Service
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I.R.S. Commissioner to Quit as Trump Takes Office
The president-elect has said he plans to nominate Billy Long, a former Republican congressman, to the role.
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Jeffrey Epstein’s Estate Got a $112 Million Tax Refund
The estate’s assets have swelled to $145 million, a probate court filing in the U.S. Virgin Islands shows. Much of that won’t make its way to Mr. Epstein’s victims.
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How a Consulting Firm and Trump’s I.R.S. Pick Pushed a Problematic Tax Credit
Billy Long worked with Lifetime Advisors, a company that solicited clients to claim a pandemic-era tax credit that the I.R.S. said became a magnet for fraud.
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I.R.S. to Send Out Unclaimed Tax Credit to One Million Taxpayers
Some Americans who qualified for a pandemic-era tax credit but did not claim it will get up to $1,400 in their account within the next month.
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Elon Musk and DOGE vs. Regulators
The billionaire has needled government agencies, armed with potential influence over their budgets. But some of these organizations are also looking into his interests.
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Musk’s Foundation Gave Away Less Money Than Required in 2023
Private foundations must donate 5 percent of their assets every year. Elon Musk’s enormous charity missed that standard for three consecutive years.
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How Jensen Huang, CEO of Nvidia, Is Avoiding Billions in Taxes
The chief executive of Nvidia, Jensen Huang, has taken advantage of popular loopholes in the federal estate and gift taxes, which have quietly been eviscerated.
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Trump Picks Former Representative Billy Long to Lead I.R.S.
Billy Long served six terms as a representative from Missouri. Since then, he has helped businesses claim a pandemic-era tax credit that has been riddled with fraud and cost the government billions more than anticipated.
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Older Workers to Get ‘Super’ 401(k) Catch-Up Contributions in 2025
Workers who are 60 to 63 will be able to put in up to $11,250 in extra contributions, if they can afford it.
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Critics Fear Tax Subsidies for Carbon Capture Won’t Be Checked
Some activists are questioning whether the federal government can accurately verify a tax program for facilities that store planet-warming gases.