Taxpayers
WASHINGTON — As a candidate in 2020, Joseph R. Biden Jr. campaigned to end billions of dollars in annual tax breaks to oil and gas companies within his first year in office. It’s a pledge he has been unable to keep as president. Mr. Biden’s budget request to Congress this week was his fourth attempt […]
The U.S. has sent more than $70 billion worth of aid to Ukraine since Russian troops crossed its border last year. But now a battle is brewing in Washington over the Biden administration’s request for over $20 billion more. Many Republicans in Congress are opposed – hardliners in the House want to cut off all […]
The Internal Revenue Service is overhauling how it scrutinizes the tax returns of lower-income Americans as part of an effort to reduce enforcement disparities that have made Black taxpayers far more likely than anyone else to be audited. At the center of this effort is a major change to how the I.R.S. conducts audits of […]
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 […]
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
With Tax Day around the corner, the fear of an audit looms for some Americans. A recent report by Stanford University shows that some Americans are being targeted for audits more than others. Stanford report showed black taxpayers might have more to stress about come tax time. The report found the Internal Revenue Service (IRS) […]
Here’s a huge climate challenge that you don’t hear much about: Around the world, taxpayers are helping to support fossil fuels through subsidies when their money could be funding green energy transitions instead. That’s a huge problem for efforts to slow down climate change, and it’ll be on many minds this week when global financial […]
Even before the latest round of billion-dollar belly flops, U.S. taxpayers have bailed out banks of all types, sizes and locations for decades. But don’t take my word for it. Prior to 2023 — that is, before the $1.8-billion bath Silicon Valley Bank took last month — 563 American banks have failed since 2001, according […]
WASHINGTON – Tax season takes place January 23 through April 18, and IRS Criminal Investigation (IRS-CI) reminds U.S. citizens and green card holders living abroad to follow the same rules for paying taxes as if they were residing in the U.S. U.S. taxpayers are subject to tax on worldwide income from all sources and must […]