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The Latest Breaking News from IRS

Throwing Money at the IRS Won't Fix Its Problems

Can the government turn $80 billion into $204 billion? Probably not.

Reason

The tax man is receiving $80bn – but US small businesses shouldn’t worry

Will your small business face greater scrutiny from the IRS? Will your tax bill go up as a result? The answer to both questions: don’t panic

The Guardian - US

IRS Sent $1.1 Billion in Child Welfare Payments to the Wrong People

Possibly the federal government's most efficient pandemic spending effort.

Reason

From analysis to the latest developments in health,
read the most diverse news in one place.

Ten Multistate Cannabis Companies Owe $500M To The IRS, Says A New Report

An analysis of financial filings by Green Market Report showed that ten publicly traded multistate cannabis companies are carrying over $500 million in federal tax debts.

Benzinga

Conservatives Against Conservation

American Stewards of Liberty campaigns against Biden's conservation efforts, and some question the legality of their lobbying.

Texas Observer

FAFSA season starts: What you need to know for financial aid

The Free Application for Federal Student Aid period opens Oct. 1 for the 2023-2024 school year

The Independent UK

Mum who was 'life and soul of the party' dies days after returning from holiday

Laura was forced to wait for mental health support due to a lack of sufficient resources

Liverpool Echo

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Olympic abuse scandal: A strange twist

Center for SafeSport is supposed to investigate alleged abusers. But no one has accused Jonathan Little of a crime

Salon

Interview: Laguna Labs CEO Responds To SEC Chair's Comments On Regulating Ethereum

At the end of last week, the White House followed up on its March executive order with the "First-Ever Comprehensive Framework for Responsible Development of Digital Assets."

Benzinga

NY AG's Trump lawsuit just the beginning

AG Letitia James referred evidence found in her probe for investigation by federal prosecutors — and the IRS

Salon

Editorial: New York attorney general rightly pursues Donald Trump and his company

That real estate promoter Donald Trump is a shady businessman has been known to New Yorkers for the half-century since the Avenue Z rent collector for his dad, Fred Trump, made his public debut with sleazy lawyer-fixer Roy Cohn at his side. Trump lied about his wealth (he wasn’t as…

Tribune News Service

New York's $250 million lawsuit against Donald Trump is the beginning, not end, of this case – a tax lawyer explains what's at stake

New York Attorney General Letitia James hit former president Donald Trump with a US$250 million lawsuit on Sept. 21, 2022, citing “staggering” amounts of falsified business information and fraud.

The Conversation

New York AG refers Trump family to federal prosecutors and IRS

Trump now faces legal peril in at least three distinct cases.

Axios

Educator Expense Deduction for 2024: What to Know

Some educators can deduct out-of-pocket expenses for classroom supplies when they file their federal returns.

Kiplinger

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WEKU

The morning ritual that keeps our new Life Kit host grounded

Marielle Segarra explains how she starts her day — and shares her favorite Life Kit episodes, life hacks and why she's excited to talk about money and finance on the podcast.

Tribune News Service

Yellen defends IRS cash infusion, plugs customer service plans

WASHINGTON — The IRS will use part of its new $80 billion influx of cash to fully staff in-person help centers, increase phone and online services and assemble a team of experts to guide the agency’s customer service efforts, Treasury Secretary Janet L. Yellen announced Thursday.

Tribune News Service

Biden likely to nominate estate-tax expert as IRS’s top lawyer

President Joe Biden is likely to nominate Beth Kaufman, a partner at the law firm Caplin & Drysdale, to be the top lawyer at the Internal Revenue Service as the White House prepares to overhaul the agency’s leadership, according to people familiar with the matter.

The Independent UK

Yellen calls for modernized IRS at Maryland field office

Treasury Secretary Janet Yellen is laying out her vision for a modernized, responsive, tech-savvy tax collection agency equipped to manage 21st century challenges

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news in one place.

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Roll Call

Yellen defends IRS cash infusion, plugs customer service plans - Roll Call

The IRS will use part of its new $80 billion influx of cash to fully staff in-person help centers and increase phone and online services.

Los Angeles Times

The IRS is getting a lot more money for audits. Should you be worried?

Did a shiver go down your spine when you heard that Congress is pouring a whopping $80 billion into the Internal Revenue Service over the next 10 years to beef up the nation's tax collection system?

Tribune News Service

POINT: We should reform, not defund, necessary institutions

Sir Isaac Newton’s Third Law of Motion states that for every action, there is an equal and opposite reaction. While Newton was describing this phenomenon in relation to physics, the basic principle also applies to society in general.

Roll Call

Democrats celebrate law aimed at combating inflation amid focus on abortion

Biden and Democrats celebrate "inflation reduction" law as CPI report tanks markets. Meanwhile, GOP proposes national abortion limits.

The Times of India

Uttar Pradesh: IRS officer gets 6 years in jail in 23-yr-old bribery case

LUCKNOW: A special anti-corruption court on Monday sentenced a 1989-batch Indian Revenue Service (IRS) officer and then deputy commissioner, Income tax, Arvind Mishra to six years imprisonment and also imposed a fine of Rs 1.5 lakh on him for accepting a Rs 15,000 bribe, 23 years ago.

The Hindu

Special CBI court awards six-year jail term to IRS officer Arvind Mishra in corruption case

The court also slapped a fine of Rs 1.50 lakh on the officer.

Tribune News Service

The past, present and future of tipping and tipped workers in Seattle

SEATTLE — Did you know it was once a misdemeanor to leave a tip in Washington state?

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