Taxes
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‘Unpredictable’ Election Clouds Tax and Economic Policy View
Sanders May Bring His Populist Brand to Powerful Senate Finance Committee
Accountant Gets Jail Time For Charging $3 Million on New Jersey Employer’s Credit Card
New Jersey Joins IRS Direct File For 2025 Filing Season
Number of the Day: $5.7 Billion
As of March 31, the IRS has spent $5.7 billion, or 10%, of the $57.8 billion it will receive from the Inflation Reduction Act, TIGTA says.
Trump’s Plan to Stop Taxing Tips Could Cost Up to $250 Billion
A bill introduced by Republican lawmakers would ax federal and employment taxes on tips, but doing so could come at a price.
Majority of Outstanding High-Risk ERC Claims Expected to Be Rejected
The review involved months of digitizing information and analyzing data since last September to assess a group of more than 1 million Employee Retention Credit (ERC) claims representing more than $86 billion filed amid aggressive marketing last year.
Florida Fisherman Pleads Guilty to Evading $400K in Taxes
He is scheduled to be sentenced on Sept. 17 and faces a maximum sentence of five years in prison, a period of supervised release, restitution and monetary penalties.
IRS Offers Guidance on Exceptions to Tax on Early Emergency Retirement Distributions
A taxpayer is permitted to receive a distribution from an applicable eligible retirement plan to meet unforeseeable or immediate financial needs relating to necessary personal or family emergency expenses.
House GOP Shifts Message on 2017 Tax Cuts
Cost concerns and blue-district GOP issues prompt strategy rethink among Republicans charged with reviewing the expiring provisions.
New Draft Form of Form 6765 Released: Credit for Increasing Research Activities
Section G, which was labeled “Section F” in the version of the form that IRS shared last fall, requests the Business Component Detail.
Senate Finance Dems Look to Raise Revenue for 2025 Tax Cliff
Top party lawmakers are making it clear that taxes need to rise on wealthy individuals and multinational corporations.