A U.S. House of Representatives committee has obtained Donald Trump’s tax returns, following a years-long court fight with the Republican former president who accused the Democratic-led panel of being politically motivated, CNN reported on Wednesday.
A Congressional Budget Office report found that the Internal Revenue Service will collect billions of dollars from auditing low- and middle-income Americans under the White House-backed “Inflation Reduction Act,” contradicting Biden administration claims, according to Republicans on the House Ways and Means Committee.
President Joe Biden’s “Build Back Better” plan, which is currently stalled in the U.S. Senate, has drawn even more questions about controversial items in the proposed $2 trillion bill.
Senate Democrats are set Tuesday to announce a scaled-down version of the Biden administration’s proposal to crack down on Americans it suspects are dodging taxes.
The U.S. Justice Department on Friday ordered the Internal Revenue Service to hand over former President Donald Trump’s tax returns to a House of Representatives committee, saying the panel has offered “sufficient reasons” for requesting the material.
The Internal Revenue Service has denied tax-exempt status to the non-profit political activism group Christians Engaged, asserting that the group’s Bible teachings typically align with Republican party policies, and that it engages in “prohibited political campaign intervention.” The Texas-based organization is appealing the decision, asserting that the IRS denied tax exemption because Christians Engaged “teaches biblical values.”
Internal Revenue Service Commissioner Charles Rettig on Tuesday asked Congress for new authority and resources in order to regulate cryptocurrencies for better tax collection and to avoid frauds and scams.
A federal judge is allowing a whistleblower complaint to proceed against the Clinton Foundation, ruling the IRS “abused its discretion” in trying to dismiss allegations of nonprofit wrongdoing by one of America’s most famous political families.
Thousands of aviation safety inspectors and hundreds of food, drug and medical inspectors are heading back to work without pay — and so will tens of thousands of Internal Revenue Service employees if the government shutdown is still in place when tax season begins Jan. 28.
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.
