Jan 28 Most Americans say they pay ‘too much’ and see poor value in taxes, AP-NORC poll shows By Cora Lewis, Linley Sanders, Associated Press A majority of taxpayers feel they pay too much in taxes, with many saying that they receive a poor value in return, according to a new poll from the University of Chicago Harris School of Public Policy and The Associated Press-NORC… Continue reading
Jan 23 TurboTax maker Intuit barred from advertising ‘free’ tax services without disclosing who’s eligible By Wyatte Grantham-Philips, Associated Press In an opinion and final order, the FTC ruled that Intuit engaged in deceptive practices by running ads claiming consumers could file their taxes for free using TurboTax — when in fact many taxpayers did not qualify for such free… Continue reading
Jan 10 Despite funding boost, IRS still grapples with backlogs and identity theft, watchdog warns By Fatima Hussein, Associated Press The IRS is experiencing “extraordinary delays” in assisting identity theft victims, taking nearly 19 months to resolve self-reported cases, which the report calls “unconscionable" since a delay in receiving a refund can worsen financial hardships. Continue reading
Oct 17 IRS plans rollout of free e-file tax return system with invitations to limited taxpayers By Fatima Hussein, Associated Press The agency, which is working on implementing state filing into its pilot, estimates that hundreds of thousands of taxpayers will participate in the limited rollout of the program for the 2024 filing season. Continue reading
Oct 12 Gap between U.S. income taxes owed and paid is expected to keep growing, IRS says By Wyatte Grantham-Philips, Associated Press The amount of tax money owed but not paid to the IRS is set to keep growing. For tax years 2021 and 2020, the projected gross "tax gap" soared to $688 billion and $601 billion, respectively. Continue reading
Oct 10 Trump once signed a document with real size of NY penthouse, trial evidence shows By Michael R. Sisak, Associated Press A 1994 document pegged his Trump Tower triplex at 10,996 square feet — not the 30,000 square feet later claimed for years on financial statements that were given to banks, insurers and others to make deals and secure loans. Continue reading
Sep 26 California Gov. Newsom signs law raising taxes on guns and ammunition to pay for school safety By Adam Beam, Associated Press California Gov. Gavin Newsom has signed a law that will raise taxes on guns and ammunition. The federal government already taxes guns at 10 percent or 11 percent. The law Newsom signed on Tuesday adds an 11 percent tax on… Continue reading
Sep 06 Federal prosecutors seeking new indictment for Hunter Biden by end of September By Lindsay Whitehurst, Associated Press The exact charges the president's son would face were not immediately clear, but he has been under investigation in Delaware on gun and tax charges. Continue reading
Aug 02 IRS aims to go paperless by 2025 as part of campaign to conquer mountains of paperwork By Fatima Hussein, Associated Press The effort to reduce the exorbitant load of paperwork that has plagued the agency — dubbed the "paperless processing initiative" — was announced by U.S. Treasury Secretary Janet Yellen and IRS Commissioner Daniel Werfel on Wednesday. Continue reading
Jul 28 Democrats claim the GOP is withholding contradictory evidence in Hunter Biden probe By Farnoush Amiri, Associated Press House Democrats are demanding the release of a transcript from a new FBI witness, saying it contradicts Republicans' claims in the vast congressional inquiry into President Joe Biden's son, Hunter. Continue reading