Individual income taxes are the federal government’s single biggest revenue source. In fiscal year 2018, which ended Sept. 30, the individual income tax is expected to bring in roughly $1.7 trillion, or about half of all federal revenues, according to the Congressional Budget Office.
Court records show a judge this week approved a settlement between the Internal Revenue Service and hundreds of Tea Party groups.
Sen. Ted Cruz (R., Texas) introduced comprehensive legislation Tuesday that would make the lowered individual tax rates included in the Tax Cuts and Jobs Act permanent.
The Internal Revenue Service will not accept electronically filed tax returns for the upcoming filing season in which people fail to note whether they have health insurance, according to an agency announcement that is a reversal of informal policy under the Obama administration.
The majority of households paying the Obamacare penalty in 2015 were low- and middle-income households, according to the most recent data from the Internal Revenue Service.
The Internal Revenue Service was involved in a $5 million push to pressure Americans to buy Obamacare coverage, according to documents obtained from the watchdog group Judicial Watch.
Americans on average spent more on taxes in 2016 than they did on food and clothing combined, according to data released this week by the Bureau of Labor Statistics.
Congressional Republicans working to craft a tax reform package are taking their pitches to major Fortune 500 companies this week, as they look to coalesce support from the business community ahead of an expected legislative push in the fall.
The IRS must name the specific employees it blames for targeting tea party groups for extra scrutiny and must prove it has halted the targeting of the groups, a federal judge ordered last week.
The federal government collected record amounts of both individual income taxes and payroll taxes through the first ten months of fiscal 2017 (Oct. 1, 2016 through the end of July), according to the Monthly Treasury Statement.
The federal government collected approximately $2.5 trillion in taxes in the first three quarters of fiscal year 2017, but the federal government still ran a $523 billion deficit during that time, according to the latest monthly Treasury Department statement.
A federal judge on Friday ordered the Internal Revenue Service to reveal White House requests for taxpayers' private information, advancing a probe into whether administration officials targeted political opponents by revealing such information.
Obamacare's individual mandate generated about $1.5 billion from about 7.5 million people during its first year in existence.
Justice Department officials pushed IRS employees to hand over documents before they gave the records to Congress in 2013 as investigators were attempting to dig into the tax agency's targeting of conservative nonprofits.
IRS Deputy Associate Chief Counsel Thomas Kane said in transcribed congressional testimony that more IRS officials experienced computer crashes, bringing the total number of crash victims to "less than 20," and also said that the agency does not know if the lost emails are still backed up somewhere, the Daily Caller reported.
A federal judge has ordered the IRS to explain how it lost two years' worth of emails from former IRS employees.
A federal judge has instructed the IRS to appear before the court July 11 to explain why the IRS shouldn't be required to allow outside experts evaluate whether the emails of former IRS employees are truly lost.
Late Wednesday, Congressional investigators published emails from ex-IRS official Lois Lerner, which detailed her targeting a Republican Senator in 2012 for an internal audit based on an email she accidentally received.
IRS Commissioner John Koskinen weathered another fiery exchange where House Oversight Committee Chairman Darrell Issa (R-Calif.) bluntly told him, "We have a problem with you and you have a problem with credibility."
The emails of Ex-IRS official Lois Lerner, who was found in contempt of Congress, may be lost forever since her hard drive has been recycled by the IRS, multiple sources told Politico.