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The Latest Breaking News from IRS

Tax-loss harvesting: How to turn investment losses into money-saving tax breaks

Kiss your poor investment goodbye and get a tax break for doing it – that’s the idea behind tax-loss harvesting. It can be a smart move to make if you’re holding on to an underperforming stock or fund and you’re looking offset gains realized from selling another one of your…

Tribune News Service

The IRS promises your tax refund within three weeks. Here are some exceptions

WASHINGTON — More people are getting bigger federal tax refunds this year, but not everyone will be getting their refund within the 21 days the Internal Revenue Service promised.

McClatchy Washington Bureau

A procrastinator’s guide to filing your taxes (late)

April 18 doesn't have to be scary.

Mic

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read the most diverse news in one place.

IRS unit gets no funds to enforce sanctions on rich Russians

The IRS criminal investigation arm tasked with tracking down sanctioned Russian oligarchs' property failed to receive an infusion of money in the Ukraine aid package

The Independent UK

Nicolas Cage clears up ‘misconception’ about reason why he accepted dozens of VOD movie roles

‘If there was a misconception, it was that,’ actor said

The Independent UK

Checks and Balances: Illinois Joint Committee on Administrative Rules blocks governor’s emergency rule

The Checks and Balances Letter delivers news and information from Ballotpedia’s Administrative State Project, including pivotal actions at the federal and state levels related to the separation of powers, due process, and the rule of law.

Ballotpedia

Liz Weston: How to keep your tax return from getting hung up

The IRS is overburdened and understaffed, which means even the smallest error could delay the processing of your tax return for months

The Independent UK

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IRS is ‘outgunned’ in audits of major companies, agency chief says

The IRS is outmatched in resources and expertise when it audits some of the largest companies in the country, the agency’s top official said.

Tribune News Service

Amid painful tax season, bipartisan duo eyes IRS budget fix

WASHINGTON — After giving the IRS its biggest budget boost in years, some lawmakers are turning to new efforts to deliver resources to the beleaguered agency in the middle of a tax filing season plagued by lengthy delays and a hefty backlog of unprocessed returns.

Tribune News Service

Amid painful tax season, bipartisan duo eyes IRS budget fix - Roll Call

After giving the IRS its biggest budget boost in years, some lawmakers seeking new ways to deliver resources to the beleaguered agency.

Roll Call

Face recognition's staying power

Cancellation of an IRS program hasn't slowed adoption of the controversial technology for government use.

Axios

Commentary: The IRS must be properly funded; here’s why

The Internal Revenue Service is the government agency that taxpayers “love to hate,” but starving it to death is bad for the country. The Biden administration’s Build Back Better legislation, which includes critically needed funding for the IRS, in now in limbo. The president has promised to fashion a stripped-down…

Tribune News Service

¿Va a declarar sus impuestos pronto? Así es como la asistencia fiscal por el COVID-19 podría afectar lo que debes

Incluso en 2022, millones de estadounidenses sentirán el impacto de la pandemia por coronavirus cuando declaren sus impuestos.

Tribune News Service

Michael Hiltzik: Proof the IRS targets the poor for tax audits while leaving millionaires alone

The Internal Revenue Service's preference for handling millionaires and billionaires with kid gloves has been known and documented for years.

Los Angeles Times

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Reason

Lowest-Income Taxpayers Are the Most Likely To Be Audited

Plus: North Carolina rescinds FART license plate, permit-free concealed carry gets OK in Ohio, COVID case counts rising again, and more...

Tribune News Service

Filing your taxes soon? Here’s how COVID-19 relief could affect what you owe

Even in 2022, millions of Americans will feel an impact from the coronavirus pandemic when they file their taxes.

The Conversation

Whistleblowers and tax evasion: what South Africa needs to add to its toolbox

The importance of whistleblowers was highlighted again recently in South Africa. In one of the reports released by Judge Raymond Zondo, who has headed up a commission of inquiry into state capture, he recommended that whistleblowers should be protected. He also recommended that they should be given an incentive to…

Tribune News Service

IRS sees path to cut lengthy phone waits, massive refund backlog

There’s a glimmer of hope for frustrated taxpayers who have been unable to reach the Internal Revenue Service or have had their tax refunds held up by massive processing backlogs.

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news in one place.

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The Independent UK

IRS plans to hire 10,000 workers to relieve massive backlog

The IRS is announcing plans to hire 10,000 new workers to help reduce a massive backlog that the Biden administration says will make this tax season the most challenging in history

Axios

Tax audits drop for the highest earners

Yet, it's the wealthy who are more likely to evade taxes

The Independent UK

Cormac McCarthy has 2 novels coming out in the fall

Cormac McCarthy has two novels coming out this fall, his first fiction releases since the Pulitzer Prize-winning “The Road” in 2006

Los Angeles Times

Congresswomen ask IRS to look at Golden Globes group's tax exempt status

LOS ANGELES — More than a year after a Los Angeles Times investigation into the Hollywood Foreign Press Association, a pair of congresswomen have sent a letter to the Internal Revenue Service, asking for an investigation into the organization's tax-exempt status.

Benzinga

IRS "Waves White Flag" In Crypto Case Impacting "Millions of Americans."

This article was originally published on Gokhshtein Media and appears here with permission.

The Independent UK

First trial in Atlanta corruption investigation set to start

A political consultant who was a top aide to former Atlanta Mayor Kasim Reed is the first person set to go to trial in a long-running federal investigation into corruption at City Hall

Chicago Sun-Times

Campaign 2022 kicks off with ‘camaraderie,’ coffee and catcalls — as candidates line up to get on the ballot

It was the first day of the weeklong period for candidates to file their nominating petitions for federal, state and local offices on the June primary ballot. The Illinois State Board of Elections headquarters didn’t open until 8 a.m. But that didn’t stop candidates and staffers from gathering…

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