“Average tax refund amounts are down double-digits compared to last year, according to the latest batch of weekly IRS data about the 2019 tax-filing season released late Friday,” The Hill reports.
“The average refund through Feb....
Related topics: Taxes
That is the new and interesting book by Yair Listokin. He argues that during a downturn regulators perhaps should be slower to approve utility rate increases, the IRS should run tax policy in a more stimulative manner, construction expenditures...
Related topics: Taxes
The employee faces up to 5 years in prison.
Related topics: Banking
The illegal disclosure revealed the Trump lawyer was accepting some questionable payments.
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So says Ace of Spades, remarking on the astonishing report that an IRS bureaucrat has been charged with leaking Trump attorney Michael Cohen’s bank records to reporter Ronan Farrow and attorney Michael Avenatti last year. The bureaucrat, based...
Related topics: Banking, Ronan Farrow
In general, the IRS expects most tax refunds to be issued in less than 21 days. Here’s how to find out the status of your tax refund.
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In 2017, the Internal Revenue Service processed more than 245 million tax returns and collected more than $3.4 trillion in revenue. Individuals and businesses throughout the U.S. are expected to file tax forms with the IRS to tell the federal...
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Two key House Democrats are asking the IRS for information about third-party analyses of the new tax-filing "postcard," after the agency's in-house watchdog expressed concerns about the forms.Ways and Means Committee Chairman Richard Neal (Mass.)...
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Not only is an audit unlikely to happen — if it does, it’s rarely a huge deal. Few words inspire such fear in the hearts of Americans as “IRS audit.” But one of the biggest mistakes that taxpayers make is letting fear of the IRS stop them...
Most U.S. taxpayers owe less to the IRS this year under the new tax law, but the average refund is also smaller.
Most Americans have a smaller total federal income tax bill for 2018 than they did in previous years, thanks to the tax law passed by...
Related topics: Taxes
The smartest insight and analysis, from all perspectives, rounded up from around the web:
"Millions of people are getting hit with a surprise tax bill," said Matthew Yglesias at Vox. Twitter is aflame with outrage from early filers who typically...
Related topics: Taxes, Social Media, Twitter (business)
Penalties for filing taxes late are deliberately set high enough to encourage taxpayers to file in a timely manner. On top of that, the IRS can impose additional penalties and interest to any unpaid taxes, increasing your bill even further.Penalties...
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The IRS released data on Thursday showing that the average refund size for the first 12 days of this year’s tax-filing season was smaller than it was during a similar period last year.The average refund size through Feb. 8 was $1,949, which was...
Related topics: Taxes
In 2017, the man reported an income under $20,000, and also reported paying $1 million in withholding taxes. The IRS refunded him $980,000 — that is, until it figured out what he had done.
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The 35-day budget impasse caused "real harm" to taxpayers, according to a new IRS watchdog report.
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It’s important to be dialed in when it comes to scammers. Buzz60's Sean Dowling has more.
The partial U.S. government shutdown in December and January caused “real harm” to taxpayers, with many unable to get help from officials to understand their tax obligations, a government watchdog said. In a report released on Tuesday, the...
Related topics: Taxes
U.S. Senator Elizabeth Warren told CNBC the other day: “I want these billionaires to stop being freeloaders … I want them to pick up their fair share.”
Are billionaires freeloaders? To get an idea, we can look at IRS data on the Top 400...
Related topics: Taxes, Cnbc
Chainalysis, which offers software that tracks cryptocurrency transactions, said on Tuesday it had raised $30 million in its Series B round led by prominent VC firm Accel.
The New York-based upstart serves clients like Barclays, Binance, and IRS and...
Related topics: Blockchain, Banking, Barclays
Today, the President announced plans for a temporary end to the Government Shutdown until February 15. Although the IRS previously confirmed the Government Shutdown would not impact processing tax returns, with filing season beginning on Monday,...
Related topics: Taxes