GOP bill targets NPR, PBS funding amid Elon Musk’s DOGE audits
First on FOX: Republican lawmakers are renewing efforts to burn federal funds to NPR and PBS amid the upheaval of the Trump administration's federal bureaucracy. According to legislative text previewed by Fox News Digital, Rep. Claudia Tenney suspends taxpayer dollars in the House of Representatives and a bill to stop taxpayer dollars to reduce national […]
Dems loved IRS audits for you — and now fear accountability for themselves
As promised during the election, Elon Musk has been appointed Director of the Government's Efficiency to combat the government's waste and fraud. In typical Washington fashion, such initiatives usually produce sophisticated reports after 18 months, with little actual action. But Musk and his team have taken a different approach, actively dismantling the worst areas of […]
Three audits in a row: Why Trump must DESTROY the Department of Education
If Donald Trump really wants to change America for the better, he should look to the Department of Education, which just failed its third consecutive audit. “Instead of focusing energy and time on improving operations at all levels and improving student outcomes, the Biden-Harris-era Department of Education has poured resources into the student loan system,” […]
Over 800 IRS employees owe millions in back taxes after audits pushed by Ernst – Washington Examiner
The document was shared exclusively in a Nov. 8 letter to Iowa state senators. washington examinerThe IRS noted that of the 2,044 employees who reported balances totaling $12 million or more, 860 employees still have unpaid past due taxes. Of the 70 employees who “deliberately evaded” paying taxes, only 20 were fired. “We haven't seen […]
FBR plans digital invoicing, audits as tax gap hits Rs7tr – DAWN.com
ISLAMABAD: The country's tax revenue shortfall ballooned to a staggering Rs7 trillion in the last fiscal year (FY24), up from Rs1,289 billion in FY22, Dawn learned from sources, highlighting the urgent need to strengthen tax compliance to meet IMF targets. This significant increase, almost equal to the Federal Board of Revenue's (FBR) total collection for […]
As the IRS targets wealthy Americans for audits, here are red flags for everyday filers – CNBC
Photo: Rafa Elias | Moment | Getty Images The I.R.S. Still in the works The plan would avoid increased audits for taxpayers making less than $400,000, but experts say certain details on tax returns could draw scrutiny regardless of income level. Last week, the Treasury Department's Office of the Inspector General for Taxation (TIGTA) announced […]
IRS to start ‘intensifying audits’ on bogus employee retention claims
Hit by false pandemic-era claims of the Employee Retention Tax Credit (ERC), the IRS said it was stepping up audits and criminal investigations of suspected fraud. The IRS has sent 28,000 denial notices to businesses in recent weeks, which could prevent “up to $5 billion in fraudulent payments,” the agency said in a statement Thursday. […]
Republicans Demand Audits for ‘Astonishing Level’ of Potential Obamacare Enrollment Fraud
House Republican committee chairs on Saturday called for an audit of the “alarming levels” of Obamacare enrollment fraud. Judiciary Committee Chairman Jim Jordan (R-Ohio), Ways and Means Committee Chairman Jason Smith (R-Missouri), and Energy and Commerce Committee Chairman Cathy McMorris Rodgers (R-Wash.). It is called Citing the Paragon Health Institute report, the report said the […]
The IRS says audits are about to surge — here’s who’s most at risk
The Internal Revenue Service said it plans to significantly increase audit rates for large corporations, partnerships and billionaires over the next three years, following a major funding boost from the Biden administration. The IRS stated in one document: news release On Thursday, it announced it aims to nearly triple the audit rate for companies with […]
Catch up on the day’s stories: Pushing back against book bans, IRS ramps up audits, Kevin Bacon gene – CNN
👋 Welcome to 5 Things PM! The Internal Revenue Service plans to: Improving audit rates of wealthy taxpayers and big corporations. Audit rates for people with income over $10 million will increase by 50%, and the agency plans to triple the audit rate for businesses with assets over $250 million. The effort will be paid […]