WASHINGTON — Treasury Secretary Janet L. Yellen said on Monday that the United States could run out of money to pay its bills by June 1 if Congress does not […]
Internal Revenue Service
Trending topics and news from the Internal Revenue Service category
Back to news homeTrickling Tax Revenue Complicates Debt Limit Talks
WASHINGTON — A vote by House Republicans last week to lift the nation’s debt limit in exchange for deep spending cuts was the first step in what is likely to […]
U.S. Car Brands Will Benefit Most From Electric Vehicle Tax Breaks
American brands like Tesla and General Motors will benefit most from rules that determine which electric vehicles qualify for tax credits starting on Tuesday. Foreign carmakers like Hyundai will be […]
I.R.S. Unveils $80 Billion Plan to Overhaul Tax Collection
WASHINGTON — The Internal Revenue Service on Thursday unveiled an $80 billion plan to transform itself into a “digital first” tax collector focused on customer service and cracking down on […]
Black Americans Are Much More Likely to Face Tax Audits, Study Finds
WASHINGTON — Black taxpayers are at least three times as likely to be audited by the Internal Revenue Service as other taxpayers, even after accounting for the differences in the […]
Your Tax Refunds May Be Smaller This Year
Filers may want to have their returns prepared early in the filing season, so they can adjust their budget if their refund falls short of expectations. “Knowing where you stand […]
I.R.S. Backlogs Continue as Republicans Mount Offensive
WASHINGTON — The Internal Revenue Service will begin the 2023 tax season bogged down in 10 million unprocessed tax returns from prior years and struggling to answer taxpayer phone calls, […]
How New IRS Rules Could Affect Venmo, Zelle and CashApp Users
WASHINGTON — This year, Dennis Turbeville, a woodworker in Washington, used the mobile payment service Venmo to sell his wares, collect payments on a rental property and split personal expenses […]
Did You Sell an Old Desk Online? You May Receive a Tax Form.
The change is not meant to apply to people who are receiving payments as gifts or as reimbursements from friends after splitting the cost of a restaurant meal, said Erin […]
How a Hospital Chain Used a Poor Neighborhood to Turn Huge Profits
RICHMOND, Va. — In late July, Norman Otey was rushed by ambulance to Richmond Community Hospital. The 63-year-old was doubled over in pain and babbling incoherently. Blood tests suggested septic […]