IRS targets wealthy ‘non-filers’ with new wave of compliance letters – CNBC
IRS Commissioner Daniel Warfel speaks at an IRS event in McLean, Virginia, on August 2, 2023. Alex Wong | Getty Images The IRS has announced plans to target new letters to “non-filers,” starting with high-income taxpayers who have not filed a federal return since 2017. The agency will send letters to wealthy non-filers starting this […]
Direct file tax system opens to new users as IRS service levels improve
The IRS’ Direct File online tax filing system will be open to new users for a limited time starting at 5 p.m., the IRS announced Tuesday. This testing program is available to taxpayers in 12 states where it is being piloted by the IRS. These include New York, Texas, Florida, and California.You can access the […]
Laken Riley murder ignites demands to hire more CBP agents and redirect $15B Democrat IRS payday to border
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Corporate jet users brace for more IRS audits
Corporate jet owners and operators are upset about dozens of additional audits scheduled for later this spring, the Internal Revenue Service announced this week. Industry groups say jetliners have done nothing wrong, while tax experts say taxes on corporate perks like jets are being taxed to pursue the roughly $700 billion a year the IRS […]
Republicans would cripple the IRS by forcing its workers back into the office
In the bustling corridors of power where the future of American governance is being debated, a new battleground has emerged, both surprisingly intimate and all-important. It’s an office space for federal employees. The Internal Revenue Service, the linchpin of the federal government’s machinery, has become the epicenter of the debate, as Republican leaders have issued […]
IRS to open its free tax filing site to more new users – ABC News
As tax filing season begins, taxpayers in some states will have a new way to file online “within days,” the IRS announced this week. direct fileA free site for filing federal tax returns directly through the IRS opens for new users. 12 states The IRS said it was provided for an unspecified period of time […]
Advice | Why should you pay the IRS on time? The underpayment penalty is 8%. – The Washington Post
With tax season in full swing, there’s one thing to remember. If you owe money to the IRS, that means you’ll pay a lot of money in interest. Under tax law, interest rates on overpayments and underpayments are set quarterly. As of April 1, the tax rate for individuals will remain at 8%, almost triple […]
Tax evasion by millionaires and billionaires tops $150 billion a year, says IRS chief – CNBC
The nation’s millionaires and billionaires avoid more than $150 billion a year in taxes, increasing the government’s deficit and creating a “lack of fairness” in the tax system, according to the head of the Internal Revenue Service. With billions of dollars in new funding from Congress, the IRS has begun a sweeping crackdown on wealthy […]
The IRS will pursue business private jet usage in a new round of audits on high-wealth taxpayers – NBC News
first, taylor swift tracker and other celebrities’ private jet usage. Going forward, there will be even more scrutiny on executives’ personal use of business aircraft, which is recorded as an expense in taxes. IRS leaders announced Wednesday that as part of the agency’s continued mission to pursue high-value tax fraud, the agency will investigate companies’ […]
IRS to ramp up audits of private jet usage
The Internal Revenue Service said Wednesday it is stepping up audits of corporate jets to collect more unpaid taxes as part of a crackdown on wealthy taxpayers. The tax collector’s office plans to conduct 30 to 40 audits of companies and wealthy individuals who may be flying on corporate jets for leisure purposes to reduce […]