IRS
Program provides a 10 or 20-percentage point tax credit boost for solar and wind projects in low-income or Tribal communities WASHINGTON —Today, the U.S. Department of the Treasury, U.S. Department of Energy, and Internal Revenue Service (IRS) announced that applications for the Low-Income Communities Bonus Credit program under Section 48(e) of the Internal Revenue Code […]
An anonymous reader shares The Hill’s report from earlier this month. Apparently America’s tax-collecting Internal Revenue Service “cannot locate thousands of microfilm cartridges containing millions of sensitive individual and business tax account records, according to a watchdog report.” The Treasury Inspector General for Tax Administration said in a report released August 8 that the IRS […]
Guidance completes Phase 1 of Treasury Department Inflation Reduction Act Implementation, advances President Biden’s Investing in America agenda WASHINGTON — As part of the Biden-Harris Administration’s Investing in America agenda, the U.S. Department of the Treasury and the Internal Revenue Service (IRS) today released proposed rules and FAQs on key provisions in the Inflation . . […]
US financial news live updates: July SNAP benefits, Social Security payments, IRS refunds… AS USA Source link
Washington(CNN) Internal Revenue Service Commissioner Daniel Werfel acknowledged in a letter to the US Senate on Monday that Black taxpayers are audited at significantly higher rates than non-Black taxpayers, a revelation he said has left the agency “deeply concerned.” “While there is a need for further research, our initial findings support the conclusion that Black […]
The Internal Revenue Service said on Tuesday it would launch a free, government-provided direct tax filing option next year, which could lead to the full-scale launch of an IRS filing system that would compete with private tax preparers. The IRS said in an exploratory report to Congress that 72% of American taxpayers surveyed said they […]
3 hours ago Image caption, Black taxpayers in the US are more likely to be audited by the IRS, a new study from Stanford University shows. Black Americans are significantly more likely to be subjected to tax investigations, the Internal Revenue Service (IRS) has admitted. IRS Commissioner Daniel Werfel said in a letter . . […]
Black taxpayers more likely to be audited, IRS admits BBC Source link
WASHINGTON, May 16 (Reuters) – The Internal Revenue Service on Tuesday said it would launch a free, government-provided direct tax filing option next year, which could lead to the full-scale launch of an IRS filing system that would compete with private tax preparers. The IRS said in an
The IRS’s “initial findings” concur with a recent study that found Black taxpayers may be disproportionately audited, and the agency is evaluating how its processes may play a factor, IRS Commissioner Danny Werfel wrote in a letter Monday. Werfel’s letter to Senate Finance Committee Chairman Ron Wyden (D-Ore.) comes after Wyden requested during Werfel’s confirmation […]