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The Latest Breaking News from IRS

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 Times of India

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.

The Hindu

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?

Tribune News Service

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You may get an IRS refund if you filed your taxes late during the pandemic

The IRS is refunding penalties it charged taxpayers for filing their 2019 and 2020 tax returns late, as a form of COVID-19 relief. The refunds don't apply to penalties for failing to pay your taxes.

WEKU

How did Republican fearmongering about an IRS ‘shadow army’ go mainstream?

The party has embraced a precise brand of anti-government rhetoric, with the agency the latest target – and it’s drawing on an old playbook

The Guardian - US

Omar takes aim at "weasel" Ted Cruz

Omar blasts Cruz over GOP plan to kill student debt relief

Salon

Salaries for top staffers at Obama Foundation are outpacing their counterparts at other presidential centers

CHICAGO — Even before Barack Obama left the White House, plans to build his presidential center in Jackson Park were met with resistance as nearby residents feared the center’s very existence would drive up costs in an area the former president says he wants to uplift.

Chicago Tribune

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DeSantis 2018 campaign got $25,000 from nonprofit secretly funded by FPL cash, records show

MIAMI — In the run-up to the 2018 election, Broken Promises — a mysterious nonprofit group registered to a UPS box in the nation’s capital — gave $25,000 to a political committee called Consumers for Energy Fairness. It was the first donation the committee received that year.

Miami Herald

Brickbat: Too Much Information

The Internal Revenue Service posted to its website confidential information for 120,000 taxpayers with retirement accounts invested in assets like master limited partnerships and real-estate investment trusts. Those taxpayers, as well as tax-exempt nonprofits, must file 990-T forms. Only the information for the nonprofits was supposed to be posted. IRS…

Reason

The IRS says it mistakenly made public data for about 120,000 taxpayers

The data — which included individual names and business contact information — was public on the IRS.gov website for about a year until an employee noticed the mistake recently.

WEKU

Jackie Calmes: No, Tucker Carlson, armed IRS agents won't be coming for Amercans' money

My dad was an armed IRS agent, gun-toting for good reason. He helped bust mob figures across northern Ohio for tax evasion, from Toledo to Youngstown. He died too young (of natural causes), and his public service is among my best memories.

Los Angeles Times

IRS mistakenly published some taxpayers’ confidential data

WASHINGTON — The Internal Revenue Service mistakenly published confidential data for 120,000 taxpayers on its website before realizing the error and taking down the data, the Treasury Department said.

Tribune News Service

Short Circuit: A Roundup of Recent Federal Court Decisions

Mean teachers, bad warrants, and merest coincidences.

Reason

Editorial: The troubled North Carolina NAACP should explain and regroup. The state needs its advocacy

The NAACP has a proud history of overcoming racial barriers, but now its North Carolina conference is being stymied by internal obstacles.

Tribune News Service

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Reason

Artificial Intelligence Helps French Tax Authorities Find Thousands of Untaxed Swimming Pools

When taxing authorities get more resources and power, they will find ways to make everyone pay more.

WEKU

Experts say a Trump-backed charity is pushing the boundaries of tax law

An NPR investigation has raised questions about whether the nonprofit Conservative Partnership Institute may be violating a legal ban on participating in political campaign activities.

Tribune News Service

NC NAACP loses tax-exempt status; audit assessing misspending allegations

For decades, the public face of North Carolina’s NAACP has been an energetic organization unbending in its fight against injustice.

Reason

This Grandmother Didn't Submit the Proper Banking Form. Now the IRS Wants $2.1 Million From Her.

She’s asking the Supreme Court to consider whether this seizure is an excessive fine under the Eighth Amendment.

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McClatchy Washington Bureau

Fact check: Will middle-class taxpayers really face an ‘army’ of IRS agents?

WASHINGTON — Look out, warn the Republicans. The Internal Revenue Service is about to unleash an army of agents eager to audit you and cost you a lot of money and aggravation.

Benzinga

The "Inflation Reduction Act" Doesn't Address Inflation Causes At All - Opting Out To Bitcoin Is The Only Way

Does opting out of fiat by replacing it with Bitcoin offer a viable alternative?

Salon

Donor coaches GOP to lie about tax hike

Steve Wynn urged Republicans to falsely tell workers "they're coming for you"

The Independent UK

NOT REAL NEWS: A look at what didn't happen this week

Social media users shared a range of false claims this week

The Conversation

Child poverty estimates point to a record low in 2021 – here's how it could have been even lower

The U.S. government will likely report in September 2022 that for 2021 its most accurate measure of child poverty was the lowest on record. This was due, in large part, to generous government benefits. Our research suggests child poverty in 2021 would have been even lower had the government made…

USAFacts

What are capital gains? How are they taxed?

About two-thirds of individual capital gains subject to tax are from selling corporate stock; the remainder is from property sales.

Tribune News Service

IRS will refund penalties to California taxpayers who filed late in early COVID years

Californians who paid their 2019 or 2020 income taxes late could be getting refunds on the amounts they paid in penalties, the Internal Revenue Service said Wednesday.

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