IRS Archives - Page 3 of 4

IRS to Prioritize Criminal Investigations and Enforcement for Certain Assets

The Internal Revenue Service (IRS) has announced that the federal tax agency is prioritizing criminal investigations and will be increasing enforcement on certain assets. The IRS revealed that it plans to increase enforcement in the area of digital asset transactions and listed transactions. The agency identified certain transactions to have…

IRS Agents Make Surprise Visit to Home Of Jim Jordan’s Star Witness, Jordan Demands Answers

In a shocking twist, IRS agents made a surprise visit to the home of Republican Rep Jim Jordan’s (R-OH) star witness from a recent Committee hearing. Journalist Matt Taibbi was a star witness at Jordan’s Weaponization of Government hearing. During the hearing, Taibbi used Twitter’s internal files to blow the…

IRS Lists ‘Dirty Dozen’ Tax Scams in Fresh Warning

The Internal Revenue Service (IRS) has released a list of the "Dirty Dozen" scams that taxpayers should be aware of. The IRS published the list along with a warning to taxpayers and businesses about the latest tax scams. The agency warns that unscrupulous promoters are falsely advertising the availability of…

New IRS Tax Rules Are a ‘Double Whammy’ for Families, Experts Warn

The new tax rules implemented by the Internal Revenue Service (IRS) could place a strain on some families hoping for an expanded child tax credit, experts are warning. The IRS has issued several press releases to warn about potentially lower tax refunds this filing season. However, some analysts say the…

IRS: Millions of Americans Don’t Realize They Are Eligible for Tax Credit

Millions of Americans don't realize that they are eligible for a tax credit, the Internal Revenue Service (IRS) has revealed. The IRS has issued a reminder regarding a tax credit that last year averaged over $2,000. However, roughly 20 percent of those entitled to the money didn’t claim it. “This…

House Republicans to Vote on Bill to Eliminate Income Tax, Abolish IRS

House Republicans are preparing to vote on a bill that would eliminate income tax and abolish the Internal Revenue Service (IRS). The House will be voting on Republican Rep. Buddy Carter's (R-GA) reintroduced Fair Tax Act. The legislation seeks to reel in the IRS and remove the national income tax,…

GOP-Led House Votes to Rescind Billions in IRS Funding Approved by Democrats

The GOP-led House of Representatives has voted to rescind billions of dollars in funding for the Internal Revenue Service (IRS) that was approved in the Democrats' so-called "Inflation Reduction Act." Lawmakers voted to rescind more than $70 billion in funding to the IRS on Monday night, in the first significant…

IRS Warns Americans: Report $600 Transactions from Payment Processors or Risk Audit

The Internal Revenue Service (IRS) is warning American taxpayers that failure to report transactions of $600 or more from payment processing services will run the risk of an audit. The IRS is cracking down on payments made through networks like Venmo, Paypal, and Cash App. The move comes as the…

Department of Justice Charges 5 IRS Employees with Fraud

The U.S. Department of Justice (DOJ) has charged five current or former Internal Revenue Service (IRS) employees with fraud, prosecutors have revealed. The IRS staffers were caught defrauding the Paycheck Protection Program (PPP) and Economic Injury Disaster Loan (EIDL) Program. PPP and EIDL are taxpayer-funded federal stimulus programs authorized as…

Republicans to Cut 87,000 Agents from IRS after Winning Majority in Congress

Republicans have revealed that they plan to cut all 87,000 new Internal Revenue Service (IRS) agents recruited by the Democrats after the GOP wins control of Congress. The hiring of tens of thousands of new IRS agents was authorized in the Democrats' "Inflation Reduction Act," which was passed just weeks…