By Sam Becker December 05, 2023 With consequential Supreme Court rulings on topics like abortion and voting rights in recent years, Americans may be forgiven if their interest isn’t exactly piqued by a legal battle concerning the tax code. But a case currently in front of the high court, although it has largely flown under … Continue reading An under-the-radar Supreme Court case could upend the tax code and derail wealth taxation
By AJ Dellinger November 10, 2023 Inflation has increased the cost of everything from eggs to airfare in the past couple of years, and the Internal Revenue Service (IRS) is looking to lessen the burden on taxpayers. The agency announced Thursday that it will adjust the income thresholds for tax brackets for the 2024 … Continue reading IRS tax brackets 2024 vs. 2023: Here’s the full list of new income thresholds
IRS will start piloting its free TurboTax alternative in 2024 But it will initially be available 13 states only, most of which don’t levy state income taxes. Mariella Moon Wed, Oct 18, 2023 NoDerog via Getty Images It looks like the Internal Revenue Service (IRS) truly was working on a free TurboTax alternative like … Continue reading IRS will start piloting its free TurboTax alternative in 2024
By Associated Press September 08, 2023 WASHINGTON (AP) — The IRS announced on Friday it is launching an effort to aggressively pursue 1,600 millionaires and 75 large business partnerships that owe hundreds of millions of dollars in past due taxes. IRS Commissioner Daniel Werfel said that with a boost in federal funding and the … Continue reading The IRS is going after tax-dodging millionaires—with help from AI
By Sam Becker June 22, 2023 The Internal Revenue Service (IRS) isn’t exactly known for its stellar customer service—something that’s become increasingly clear in recent years. But there’s good news: The agency is making significant improvements in how it deals with taxpayers, directly. With the official tax-filing deadline two months behind us, it appears … Continue reading IRS customer service is finally making gains after hellish pandemic-era disruptions
By Sam Becker June 16, 2023 Is there a certain aura around an audit? A new paper from economists at Harvard, the university of Sydney, and the Treasury Department appears to suggest so—at least for Uncle Sam. The paper, titled “A Welfare Analysis of Tax Audits Across the Income Distribution,” finds that for every … Continue reading Harvard economists have a surprisingly convincing argument in favor of IRS tax audits
By Michael Grothaus May 30, 2023 As of the time of this writing, many major stocks are up on (June 09, 2023)’s news that a deal to lift the United States debt ceiling has been reached between the Biden administration and House Speaker Kevin McCarthy. The 99-page piece of legislation is officially called the … Continue reading What’s in the debt ceiling deal? Everything to know, from student loans to IRS funding
By Sam Becker May 17, 2023 Tax season can be a gut check for millions of Americans. Hot off announcing a new pilot program, the Internal Revenue Service (IRS) may also be in for a reality check. This week, the IRS announced that it’s created a new “Direct File” tax-filing option, and will launch … Continue reading IRS free direct file is a nice idea, but lousy customer service could undermine the whole thing
By Emily Guy Birken April 15, 2023 If you forgot about tax filing until you were clearing up the matzo crumbs, stray Easter eggs, or winter wardrobe this week, there’s no need to panic. The IRS allows you to take a six-month extension on filing your taxes—although you still have to pay what you … Continue reading Still haven’t filed your taxes? Here’s how to get the automatic extension
By Christopher Zara April 14, 2023 Dealing with a job loss is stressful enough, but for countless Americans who were laid off in 2022, this coming week could bring them the added headache of being in unfamiliar tax situations when their returns are due. This is especially true for people who work … Continue reading IRS tax day 2023: Getting laid off can affect your return in surprising ways, H&R Block expert warns
