Tag Archives: Irs
Irs Accidentally Exposes Approximately 120,000 Individual Information on Their Website
The hits just keep coming for the IRS. This time in the form of accidentally revealing sensitive taxpayer information from Form 990-T, which is for the business tax returns filed by tax-exempt organizations. According to the agency, it was … Continue reading
With the Irs’ New $80 Billion in Funding, Some Say It Should Be Spent on Answering the Phone
If you ever have had to call the IRS for any reason, you know that getting in touch with an employee is next to impossible. Earlier this month President Biden announced the Inflation Reduction Act, which included a plethora … Continue reading
Offshore Tax Loophole Helps Americans Cheat the Irs, Says the Senate
For years, people across the country have tried countless times to scam, trick, or do something to get around the IRS and their relentless nature of tax collection. Most of the time, those people have gotten caught and slapped … Continue reading
Irs to Refund 1.6 Million People Who Missed Tax Deadlines During the Pandemic
Millions of Americans across the country missed key filing deadlines during the pandemic. However, this did not stop the IRS from dishing out hefty fines to the late filers. Luckily, it seems as though the Internal Revenue Service has realized … Continue reading
Irs Increases Amount Teachers Can Deduct for Classroom Expenses
Teachers are often seen as extremely underpaid for the amount of work they do inside the classroom, but also outside of it when it comes to buying school supplies for their kids using money from their own pocket. As it … Continue reading
Janet Yellen’s Six-Month Plan for Irs to Target Tax Cheats
United States Treasury Secretary Janet Yellen has recently given a six-month timeline to the IRS to assemble a detailed plan on how they will deploy the $80 billion in funding they will be receiving over the next 10 years. … Continue reading
White House Says More Irs Funding Won’t Increase Audits for Lower Income Americans
On Monday, the Biden Administration received major backlash regarding concerns about the new $80 billion for the IRS in the Inflation Reduction Act package. The funding was intended to help the IRS crackdown on the collection of under-reported income … Continue reading
Most of New Irs Revenue Will Come From Small Businesses
Over the past few weeks, the new was passed. This bill included a whopping $80 billion in funding to the IRS to improve the agency’s collection of under-reported income. This will inevitably end up targeting many small businesses to help … Continue reading
Irs to Implement New Fingerprint Process for E-File
Starting September 25th of this year, the Internal Revenue Service is switching to a new process of collecting fingerprints when it comes to E-file applications for tax practitioners. They will be implementing an electronic process that will require tax … Continue reading
Irs Expects to Finish Processing All 2021 Tax Returns This Week
The IRS, for some now has experienced a major backlog of unfinished tax returns dating back to the beginning of the COVID-19 pandemic in March of 2020. It appears that some ground is being made up as the IRS is … Continue reading