The Treasury Department estimates that a new law requiring big companies to pay a 15 percent tax will raise $250 billion from large corporations over the next 10 years.
Category: Internal Revenue Service
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From Online Drug Lord to Crypto Entrepreneur, Blake Benthall Is Back in Business
After Blake Benthall was arrested for running Silk Road 2.0, the infamous illegal drug bazaar, things didn’t go the way you might expect.
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I.R.S. Crackdown on Delinquent Millionaires Yields $1 Billion
The beefed-up enforcement is part of the agency’s modernization initiative aimed at improving customer service and catching wealthy tax evaders.
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I.R.S. Extends Freeze of Pandemic-Era Tax Credit Amid Widespread Fraud
An internal analysis conducted by the agency found that up to 90 percent of claims are potentially fraudulent.
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First a Victim of Tax Return Identity Theft, Then a 2-Year Wait for a Refund
The I.R.S.’s Taxpayer Advocate Service found that many of those affected were lower-income people who depended on refunds to cover living costs. The wait is “ridiculous,” the head of the service said.
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I.R.S. Failed to Police Puerto Rico Tax Break, Whistle-Blower Says
An insider accused the agency of failing to scrutinize a lucrative tax break in Puerto Rico designed to lure wealthy Americans to the island.
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Trump May Owe $100 Million From Double-Dip Tax Breaks, Audit Shows
A previously unknown focus of an I.R.S. audit is a dubious accounting maneuver that effectively meant taking the same write-offs twice on a Chicago skyscraper.
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Thousands Are Eligible for Tax Refunds From 2020
The I.R.S. estimates that 940,000 people who didn’t file their returns for that year are due back money. The deadline for filing to get it is May 17.
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I.R.S. Stepping Up Efforts to Squash Fraud in Tax Credit Program
The Employee Retention Tax Credit continues to be ripe for abuse as Congress mulls shutting the program down.
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Biden Targets Private Jets in Hunt for Tax Revenue
The White House’s new focus on corporate aviation is drawing backlash from an industry that says it supports manufacturing.
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How Trump’s Justice Dept. Derailed an Investigation of a Major Company
The industrial giant Caterpillar hired William Barr and other lawyers to defuse a federal criminal investigation of alleged tax dodges.