Tax Archives - Slay News

Elon Musk Polls X Users About Defunding the IRS

Elon Musk has issued one of his famous polls on X to ask his followers whether the Internal Revenue Service (IRS) should receive its budget request or be defunded. In recent years, Musk has become one of the most popular figures in the world. His alliance with President Donald Trump…

Supreme Court Upholds Trump-Era Foreign Investment Tax

The United States Supreme Court has voted to uphold a tax on foreign investment that was introduced during President Donald Trump's administration. However, the high court left larger questions about taxing unrealized income unanswered. In a 7-2 ruling, the court affirmed the one-time mandatory repatriation tax that was included in…

Biden Hints at Looming Tax Hikes ‘Across the Income Spectrum’ If Re-Elected

Democrat President Joe Biden has hinted that Americans already struggling with an inflation crisis can expect looming major tax hikes if he's re-elected in November. An increase in taxes would come despite the high inflation rates that have defined Biden’s presidency. Biden announced the plan in a post on X…

Tax-Preparation Firms Gave Facebook ‘Extraordinarily Sensitive’ Personal Data, Report Shows

Three tax-preparation companies have given the private information of millions of American taxpayers to Facebook's parent company Meta, a bombshell new congressional report has revealed. The tax firms shared the "extraordinarily sensitive" personal data with Meta and other Big Tech companies such as Google. The tax-prep companies—TaxAct, H&R Block, and…

Arnold Schwarzenegger Detained by German Police for Several Hours over Luxury Watch

Arnold Schwarzenegger was detained by police and held for several hours at an airport in Munich, Germany on Wednesday. The Hollywood star was stopped by customs agents and was found to be carrying an undeclared luxury Audemars Piguet watch worth tens of thousands of dollars. Schwarzenegger later described the ordeal…

IRS Issues Warning: Taxpayers Targeted by New ‘Cardboard Envelope’ Tax Scam

The Internal Revenue Service (IRS) has issued a warning about a new scam mail scheme that's targeting taxpayers. The tax scam involves attempting to trick people into believing the government owes them money. “The new scheme involves a mailing coming in a cardboard envelope from a delivery service,” the IRS…

$10M Appeared in Biden’s 2017 Tax Return, Bribery Investigators Find

Democrat President Joe Biden's 2017 tax return shows that he received a staggering $10 million without any details of the source, congressional investigators probing an alleged bribery scheme have discovered. The investigation by the conservative Federalist Society found one of Biden's corporate entities reported nearly $10 million in revenue without…

IRS Warns Time Running Out to Claim $1.5 Billion in Unclaimed Refunds for 2019 Tax Year

The Internal Revenue Service (IRS) has warned American taxpayers that time is running out to claim tax refunds for 2019. On Wednesday, the IRS announced that over a million Americans have unclaimed tax refunds for the 2019 tax year. The deadline to make the claims is now looming as a…

IRS Chief Unveils Plan for Hiring Armed Agents

Internal Revenue Service (IRS) Commissioner Daniel Werfel has unveiled the federal agency's plan for hiring armed enforcement agents. Werfel has provided details about plans to hire armed IRS agents to serve in the agency’s criminal investigations division. The announcement comes amid concerns from Republicans about a proliferation of gun-toting tax…

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…