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I.R.S. Changes Audit Practice That Discriminated Against Black Taxpayers
Posted inDiscrimination Income Income Tax Inflation Reduction Act of 2022 Race and Ethnicity Tax Credits, Deductions and Exemptions Tax Evasion

I.R.S. Changes Audit Practice That Discriminated Against Black Taxpayers

The agency will overhaul how it scrutinizes returns that claim the earned-income tax credit, which is aimed at alleviating poverty.
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Posted by By Alan Rappeport
I.R.S. Freezes Pandemic-Era Tax Credit Amid Fraud Fears
Posted inCoronavirus (2019-nCoV) Coronavirus Aid, Relief, and Economic Security Act (2020) Frauds and Swindling Internal Revenue Service Small Business Tax Credits, Deductions and Exemptions Werfel, Daniel I

I.R.S. Freezes Pandemic-Era Tax Credit Amid Fraud Fears

The tax agency is ramping up audits and criminal investigations into unscrupulous promoters of the Employee Retention Credit.
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Posted by By Alan Rappeport
Biden’s Climate Law Is Reshaping Private Investment in the United States
Posted inElectric and Hybrid Vehicles Energy Efficiency Global Warming Inflation Reduction Act of 2022 Law and Legislation Tax Credits, Deductions and Exemptions Wind Power

Biden’s Climate Law Is Reshaping Private Investment in the United States

Lucrative tax incentives have fueled a surge in solar panels but failed to boost wind power, data from a new project show.
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Posted by By Jim Tankersley
Poverty Rate Soared in 2022 as Aid Ended and Prices Rose
Posted inCensus Bureau Health Insurance and Managed Care Income Inflation (Economics) Poverty Stimulus (Economic) Tax Credits, Deductions and Exemptions United States Economy

Poverty Rate Soared in 2022 as Aid Ended and Prices Rose

The increase in poverty reversed two years of large declines. Median income, adjusted for inflation, fell 2.3 percent to $74,580.
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Posted by By Ben Casselman and Lydia DePillis

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