Trump Withdraws $10 Billion IRS Lawsuit, DOJ Acknowledges Lawfare Compensation Fund
Trump Drops Lawsuit Against IRS, Establishes Compensation Fund President Donald Trump has decided to withdraw his $10 billion lawsuit against the Internal Revenue Service (IRS) and instead create a compensation fund for individuals he believes were unfairly targeted by the government’s actions, according to a recent court filing. The Justice Department confirmed the establishment of […]
Trump ends IRS lawsuit for an apology and a $1.776B fund for victims of government abuse, allowing even Hunter Biden to request compensation.
Trump Settles $10 Billion Lawsuit Against IRS In a surprising move, President Trump has settled a $10 billion lawsuit against the IRS, accepting an apology instead of cash, along with the creation of a $1.776 trillion fund designed to compensate those affected by federal weapon use. A senior official indicated that individuals who feel they […]
IRS might owe many taxpayers COVID tax refunds — here’s how to find out if you qualify
Many Americans might be eligible for tax refunds related to the pandemic, and the time to act is quickly running out, despite ongoing legal disputes. In a case known as Kwon v. United States, the U.S. Court of Federal Claims determined last November that a particular tax rule about extensions for disaster filings should have […]
The fastest growing state in the US, as reported by IRS data, is a red state.
According to recent IRS data, Texas and Florida are the primary states attracting new residents, yet South Carolina is experiencing the fastest growth rate. This has led many Americans to relocate south in search of lower taxes, abundant job opportunities, and an overall improved quality of life. In fact, South Carolina has the highest per […]
Bitcoin taxes: Your actual obligations to the IRS when you sell
Understanding the Tax Implications of Selling Bitcoin If you’re considering selling your Bitcoin or another cryptocurrency, it’s crucial to understand how that might impact your taxes for the year. The selling process itself is straightforward. If you have an account with a well-known exchange or a bank like SoFi, you’ll find a variety of options […]
Taxpayer advocate alerts to July 2026 deadline for IRS refunds from the COVID period
Peter Navarro, the White House Commerce and Manufacturing Advisor, recently discussed President Trump’s significant increase in tax refunds during an interview. Meanwhile, the IRS Taxpayer Advocate has announced that a considerable number of U.S. taxpayers might be eligible for refunds or reduced penalties due to delays in filing deadlines brought on by the COVID-19 pandemic. […]
Most IRS employees assigned to taxpayer services face longer work periods.
IRS Employee Reassignments Extended Amid Filing Season Many IRS staff who were reassigned from back-office roles to front-line positions during the tax filing season will remain in their temporary roles for the time being. In early February, around 1,500 employees from IT and human resources were directed to spend 120 days assisting in taxpayer services. […]
How likely are you to be audited now that the IRS is utilizing AI? The outcome is still uncertain.
IRS Audit Rates and Changes Ahead When you look purely at the statistics, the IRS has audited less than 1% of tax filers in recent years. For instance, in 2021, only about 0.3% of all tax returns were audited, according to the latest data. Audit probabilities are generally higher for certain taxpayer groups, depending on […]
Average tax refund has increased by 11.3%, IRS filing data reveals
Average Tax Refunds Rise Significantly This Season The average tax refund this season has increased by 11.3% compared to the same period last year, based on IRS filing data leading up to tax day. As of April 17th, the average refund for individual filers stands at $3,275, a sizable jump from last year’s $2,942. About […]
Treasury strengthens IRS Form 990 regulations for nonprofits following SPLC indictment
Treasury Department Tightens Tax-Exempt Reporting Standards The Treasury Department is revising tax-exempt reporting rules managed by the IRS to better track nonprofit funds allegedly used for “extremist activities” and “concealing fraud.” This initiative follows the recent indictment against the Southern Poverty Law Center (SPLC), a nonprofit focused on civil rights, which has been accused by […]