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New data shows IRS’s 10-year struggle to investigate tax crimes - ICIJ: The number of cases the wider U.S. tax agency refers to its criminal unit has plummeted.
icij.org/inside-icij/2024/03/new-data-shows-irss-10-year-struggle-to-investigate-tax-crimes/
Quick Glance: IRS's Struggle with Tax Crimes Over a Decade
- In the past fiscal year, the civil IRS referred only 157 tax cases for criminal investigation - from more than 200 million tax forms filed annually, as shown by new federal data.
- There has been a significant decrease in the possible tax crimes identified by civil investigators of the IRS over the past 10 years.
- In early 2022, Congress granted the IRS an additional $80 billion to staff up the agencies that audit millionaires, billionaires, and large corporations.
- Experts widely agree that the efforts to overhaul the IRS will take years, including the hiring and training of thousands of new officers and modernizing its sprawling data systems.
Yellen Sounds Alarm on China ‘Global Domination’ Industrial Push: US Treasury Secretary Janet Yellen slammed China’s use of subsidies to give its manufacturers ...
bloomberg.com/news/articles/2024-03-27/yellen-sounds-alarm-on-china-roiling-world-with-industry-ramp-up
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Yellen to Visit Senior Leaders in China in April, Politico Says: Treasury Secretary Janet Yellen will visit China in April to meet with the country’s senior ...
bloomberg.com/news/articles/2024-03-23/yellen-to-visit-senior-leaders-in-china-in-april-politico-says
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Yellen Asked to Probe Security Issues in Ammunition Maker’s Sale: Representative Clay Higgins, a member of the House Homeland Security Committee ...
bloomberg.com/news/articles/2024-03-28/yellen-asked-to-probe-security-issues-in-ammunition-maker-s-sale
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Last week:
- New data shows IRS’s 10-year struggle to investigate tax crimes
- ‘Anonymous’ company secretly linked to Indonesian billionaire destroys Borneo’s ... Show more
US supply chain task force to discuss Baltimore bridge collapse: A U.S. federal supply chain task force will meet on Wednesday to assess the Baltimore bridge ...
reuters.com/world/us/us-supply-chain-task-force-discuss-baltimore-bridge-collapse-2024-03-27/
Quick Glance: Wife of Baltimore bridge collapse survivor reveals workers' situation during tragedy
- The wife of a construction worker who survived the Francis Scott Key Bridge collapse describes it as a miracle that he survived as he cannot swim.
- Julio Cervantes was one of eight construction workers on the bridge when the Dali cargo ship crashed into a support pillar, causing the bridge to collapse into the Patapsco River.
- Search teams successfully located two individuals in the Port of Baltimore related to the bridge collapse incident.
- President Joe Biden has committed to rebuilding the bridge promptly, with the National Transportation Safety Board conducting an investigation into the incident.
Charitable Donations for Tax Deductions: How to Offset: We’re approaching the end of tax season in the US and those with a large bill might be thinking of ways ...
bloomberg.com/news/newsletters/2024-03-28/charitable-donations-for-tax-deductions-how-to-offset
Reddit (RDDT) IPO : Should You Invest in the Stock After Trading Debut Surge: Shares of the social-media company surged in their first day of trading ...
bloomberg.com/news/articles/2024-03-21/reddit-rddt-ipo-should-you-invest-in-the-stock-after-trading-debut-surge
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The IRS has 940,000 unclaimed tax refunds from 2020 that are about to expire. Is one of them yours?
apnews.com/article/tax-season-irs-refund-april-15-7d448039c59df67f054806d00110ff18
Are You One of the 940,000 Taxpayers Owed $1B in IRS Refunds from 2021? Here's What to Know
cnet.com/personal-finance/are-you-one-of-the-940000-taxpayers-owed-1b-in-irs-refunds-from-2021-heres-what-to-know/
Rich Americans Looking to Cut Tax Burden Are Boon for Muni Bonds: Americans are getting richer, setting up the municipal bond market for a bounty of opportunity.
bloomberg.com/news/articles/2024-03-20/wealth-boom-among-ultra-rich-drives-demand-for-munis-tax-shield
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FATCA IRS Tax Law: Americans Prepare to Renounce Citizenship at Lower Fee: US citizens living outside the country are preparing to officially cut ties after ...
bloomberg.com/news/articles/2024-03-22/fatca-irs-tax-law-americans-prepare-to-renounce-citizenship-at-lower-fee
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Doing Your Taxes? Steer Clear of These AI Scams: Tax season is stressful—and now you have to worry about cybercriminals using AI deepfakes ...
pcmag.com/articles/doing-your-taxes-steer-clear-of-these-ai-scams
What Is the Fed’s Dot Plot and Why Does It Matter?: It’s almost certainly the most closely scrutinized scatter chart in world financial markets ...
bloomberg.com/news/articles/2024-03-19/what-is-the-fed-s-dot-plot-and-why-does-it-matter
Ex-Credit Suisse, UBS US Client Indicted for Hiding $20 Million From IRS: A Brazilian-American businessman was indicted in Florida for allegedly using Credit ...
bloomberg.com/news/articles/2024-03-21/ex-credit-suisse-client-indicted-over-hiding-money-from-irs
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Yellen Says Moderation in Housing-Cost Gains to Help Lower US Inflation: Treasury Secretary Janet Yellen said she expects a moderation in the rise of housing ...
bloomberg.com/news/articles/2024-03-13/yellen-says-flattening-rents-to-deliver-more-us-inflation-relief
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OC bookie at center of gambling scandal thought link to Ohtani would help business
ocregister.com/2024/03/27/bookie-at-center-of-gambling-scandal-thought-link-to-ohtani-would-help-business/
LIVE: US Treasury's Janet Yellen testifies to House committee on 2025 budget: Reuters Live on X (Twitter)
twitter.com/i/broadcasts/1dRKZEPrRyDxB
Betting on March Madness? Don't forget to report your winnings to the IRS: Up to half of your winnings will be owed as taxes when you file your 2024 tax return.
cnbc.com/2024/03/28/betting-on-march-madness-report-winnings-to-the-irs.html
Janet Yellen’s Successor Will Have to Steer the Dollar Through Rough Waters: Washington’s aggressive use of sanctions and heightened partisanship are shaking ...
bloomberg.com/news/articles/2024-03-17/janet-yellen-s-successor-will-have-to-steer-the-dollar-through-rough-waters
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TaxAct 2024 (Tax Year 2023) Review: TaxAct guides new and experienced users through filing taxes online. Its strengths lie in its simple navigation ...
pcmag.com/reviews/taxact
Biden Targets Private Jets in Hunt for Tax Revenue: The White House’s new focus on corporate aviation is drawing backlash from an industry that says it supports ...
nytimes.com/2024/03/21/business/biden-corporate-jets-taxes.html
Graham: Will Direct File hold tax prep firms accountable?: Having Direct File in the marketplace could lead to lower costs and improved service across the ...
bostonherald.com/2024/03/23/graham-will-direct-file-hold-tax-prep-firms-accountable/
FTX Creditor Platform Buys $60 Million in Bankruptcy Claims: When FTX collapsed in Nov. 2022, Louis d’Origny was just one of more than a million customers who ...
bloomberg.com/news/articles/2024-03-21/platform-built-by-former-ftx-exec-snaps-up-60-million-in-claims
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Law firm Baker McKenzie sues IRS for details on partnership tax crackdown: International law firm Baker McKenzie has sued the IRS in Washington, D.C ...
reuters.com/legal/litigation/law-firm-baker-mckenzie-sues-irs-details-partnership-tax-crackdown-2024-03-19/
Yellen Congressional Hearing Foreshadows Tax Policy Fight as Cuts Expire: Treasury Secretary Janet Yellen testified Thursday at a congressional hearing that ...
bloomberg.com/news/articles/2024-03-21/yellen-hearing-foreshadows-battle-over-tax-policy-as-cuts-expire
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IRS has launched its free tax filing service, Direct File, in 12 states: Direct File has many limits, but nearly 19M people in 12 states may be eligible.
arstechnica.com/tech-policy/2024/03/irs-free-tax-filing-service-now-available-but-most-people-dont-qualify/
Quick Glance: Tax Filing 2023: Key Information
- The IRS hired over 7,000 taxpayer service representatives and plans to hire 6,500 more
- A free IRS filing service for taxpayers is being developed
- Massachusetts and New Hampshire are testing the free filing project 'Direct File'
- Helpful answers to questions about filing taxes for 2023
Lord of the Roths: How Tech Mogul Peter Thiel Turned a Retirement Account for the Middle Class Into a $5 Billion Tax-Free Piggy Bank
propublica.org/article/lord-of-the-roths-how-tech-mogul-peter-thiel-turned-a-retirement-account-for-the-middle-class-into-a-5-billion-dollar-tax-free-piggy-bank
Sila's two lives: In the red in US, but a 'thriving' investor here
standardmedia.co.ke/national/article/2001492178/silas-two-lives-in-the-red-in-us-but-a-thriving-investor-here
Hunter Biden tax case: Lawyers to ask L.A. judge to drop charges: The president's son has asked a federal judge to dismiss a nine-count indictment for alleged ...
latimes.com/california/story/2024-03-27/hunter-bidens-lawyers-ask-judge-to-dismiss-tax-charges-citing-vindictive-prosecution
Quick Glance: Hunter Biden to Challenge Tax Charges as Politically Motivated
- Hunter Biden, son of U.S. President Joe Biden, unexpectedly appears at a House Oversight Committee meeting to vote on contempt of Congress charges.
- A U.S. judge expresses skepticism towards Hunter Biden's attempt to dismiss his tax evasion case on the grounds of political targeting.
- The judge questions the evidence of political pressure and doubts the influence of two IRS agents on the prosecution's decision.
- Hunter Biden pleads not guilty to tax evasion charges and faces two separate criminal cases, one involving alleged illegal gun purchase while using drugs.
The Whistleblower Who Leaked Trump’s Taxes Is About to Go to Prison. Biden Should Pardon Him Now.
slate.com/news-and-politics/2024/03/trump-taxes-irs-whistleblower-littlejohn-billionaires-musk-bezos-biden.html
Quick Glance: Tax Deadlines 2024: Federal and State Filing Dates
- The tax season officially began on Jan. 29, with the federal tax deadline set for April 15. Individual income tax returns are due by April 15, 2024 at the IRS.
- For the federal tax return, residents of Maine and Massachusetts have until April 17 to file, due to Patriots' Day and Emancipation Day. Filing taxes early can lead to faster refunds and prevent fraud.
- Taxpayers can file their taxes once they have all necessary information. Early filing ensures quicker refunds and lower fees. State tax deadlines vary, with some states offering automatic six-month extensions.
- The federal tax deadline for 2024 is April 15. Most states align their deadlines with the federal due date, while some offer different filing dates. Quarterly estimated tax payments are due on specific dates throughout the year for self-employed individuals.
What to Know Filing 2023 Taxes: Interest Income, Roth IRA Limits, Direct File: Taxpayers may encounter a host of surprises when they file income taxes this year ...
bloomberg.com/news/articles/2024-03-16/what-to-know-filing-2023-taxes-interest-income-roth-ira-limits-direct-file
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Stock Markets Today: Yellen speaks, Britain housing, Yen gains, TikTok fate: Get up to speed with what the markets are monitoring
bloomberg.com/news/newsletters/2024-03-14/stock-markets-today-yellen-speaks-britain-housing-yen-gains-tiktok-fate
US IRS chief sees workforce topping 100,000 within three years: Internal Revenue Service Commissioner Danny Werfel said on Monday that the tax agency will need ...
reuters.com/world/us/us-irs-chief-sees-workforce-topping-100000-within-three-years-2024-03-19/
How freelancers can prepare for changing tax requirements: If you’re a freelancer or gig worker who receives payments via apps like Venmo, Zelle ...
apnews.com/article/freelancers-taxes-gig-workers-fe631c2df95a997a74d2879180460819
Conservative nonprofit didn’t disclose some political spending, filings show: The American Accountability Foundation, which has promoted its research against ...
politico.com/news/2024/03/22/american-accountability-foundation-lobbying-political-spending-00148510
Yellen says US moving to ensure domestic EV maker success despite China's exports
reuters.com/business/autos-transportation/yellen-says-us-moving-ensure-domestic-ev-maker-success-despite-chinas-exports-2024-03-13/
Quick Glance: Efforts to Promote Success of Domestic EV Manufacturers Despite Chinese Exports
- U.S. Treasury Secretary Janet Yellen highlights the actions taken by the Biden administration to ensure the success of the domestic electric vehicle industry.
- Yellen did not discuss implementing new tariffs on Chinese EVs but reiterated Biden's dedication to supporting the domestic industry.
- Current 25% tariffs on Chinese vehicles are currently preventing Chinese EVs from entering the U.S. market.
- Nevertheless, China's largest producer, BYD, is already shipping EVs to Mexico and considering establishing a factory there.
Habeck Wants to Pressure States Benefiting From Russia Sanctions
bloomberg.com/news/articles/2024-03-07/habeck-wants-to-pressure-states-benefiting-from-russia-sanctions
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The No. 1 mistake cryptocurrency traders make when filing their taxes, according to a CPA
cnbc.com/2024/03/22/cpa-no-1-mistake-cryptocurrency-traders-make-when-filing-taxes.html
Yellen says Biden tax credits boost clean energy investment in coal country: Treasury Secretary Janet Yellen said on Wednesday clean energy investments in parts ...
reuters.com/sustainability/sustainable-finance-reporting/yellen-says-biden-tax-credits-boost-clean-energy-investment-coal-country-2024-03-13/
Can AI Help You Do Your Taxes?: Current AI tax tools are prone to costly mistakes. But experts argue AI could reshape the tax industry in the coming years.
time.com/6960420/ai-tools-tax-help/
IRS stops billions in dubious ERC claims: The Internal Revenue Service's efforts to halt fraudulent claims for the Employee Retention Credit have protected more ...
accountingtoday.com/news/irs-erc-compliance-effort-stops-billions-in-dubious-claims
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The child tax credit debate is a preview of next year’s big tax fights: President Biden wants to tax the wealthy to pay for expanded social safety net benefits ...
washingtonpost.com/business/2024/03/10/chld-tax-credit-congress/
Quick Glance: Biden's Billionaire Tax Proposal: Expert Insights
- President Joe Biden praised U.S. economic performance in his State of the Union Address and emphasized the importance of raising taxes for the wealthy and corporations.
- Economists applaud proposals to increase corporate and billionaire taxes as potential revenue sources to tackle the U.S. debt crisis.
- The proposed tax credit for first-time homebuyers received approval, but doubts linger about its significant impact.
- Experts express concerns about the potential impact of corporations relocating due to the proposed tax hikes.
IRS encounters Form 1065 processing glitches: The Internal Revenue Service has posted new information about how to handle possible processing errors when ...
accountingtoday.com/news/irs-encounters-form-1065-processing-glitches
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The IRS launched a free online tax filing system. Find out here if it’s available in your state
apnews.com/article/irs-direct-file-taxes-98dbc44cc764972991072efbf40f2291
IRS forms, Spring Training and Breakdancers: Picturing This Week in History March 18 – 22
usnews.com/photos/2024/03/18/irs-forms-spring-training-and-breakdancers-picturing-this-week-in-history-march-18-22
Not Much Is Scarier Than Getting a Letter from the IRS. Here's Why You Might: If you try Direct File, you may receive an unexpected thank you letter from the IRS ...
cnet.com/personal-finance/taxes/nothings-scarier-than-getting-a-letter-from-the-irs-heres-why-you-might/
IRS Issues Tips for Speeding Up Tax Refunds: Tax filing season is well underway, with the April 15 deadline fast approaching.
newsweek.com/tax-refund-april-irs-tips-speed-1880660
The IRS Finally Has an Answer to TurboTax: Against all odds, the government has created an actually good piece of technology.
theatlantic.com/technology/archive/2024/03/irs-direct-file/677818/
IRS Update on Tax Filing Extension: Extensions to the April tax filing deadline are available, but all taxes must be paid by April 15, says the IRS.
newsweek.com/irs-update-tax-filing-extension-1882212
IRS Direct File Free Online Tax Tool Goes Live in 12 States: If you're eligible, Direct File will let you skip the expense of traditional tax-prep software.
uk.pcmag.com/tax-software/151404/irs-direct-file-free-online-tax-tool-goes-live-in-12-states
The IRS has come calling. Here's what you should do next.: If you have recently received an IRS notice telling you payment is due on a return you filed up to six ...
theadvocate.com/baton_rouge/news/business/irs-notices-hit-nwla-mailboxes/article_81b0eb10-ec59-11ee-a31d-07ee23df3be8.html
Henck: Misconduct in full swing at the IRS: The IRS routinely handles routine matters and then congratulates itself on its ethics. However ...
bostonherald.com/2024/03/12/henck-misconduct-in-full-swing-at-the-irs/
Your Tax Refund May Be Offset If You Owe Taxes, Child Support Or Other Debt Thanks To A Federal Program
forbes.com/sites/kellyphillipserb/2024/03/27/your-tax-refund-may-be-offset-if-you-owe-taxes-child-support-or-other-debt-thanks-to-a-federal-program/
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What investors need to know about crypto taxes amid the latest bitcoin rally : The price of bitcoin hit records this week. Here are key things to know about ...
cnbc.com/2024/03/16/heres-how-to-calculate-crypto-taxes-amid-the-latest-bitcoin-rally.html
The Even Better Guide to Tax Season: From doing your taxes for free to filing your first return, we've got you covered.
vox.com/even-better-guide-to-tax-season
US Treasury's No 2 urges South Africa to boost fight against corruption: US deputy Treasury secretary Wally Adeyemo on Wednesday urged South Africa to step ...
timeslive.co.za/news/south-africa/2024-03-13-us-treasurys-no-2-urges-south-africa-to-boost-fight-against-corruption/
IRS has launched its free tax filing service, Direct File, in 12 states: Direct File has many limits, but nearly 19M people in 12 states may be eligible.
arstechnica.com/tech-policy/2024/03/irs-free-tax-filing-service-now-available-but-most-people-dont-qualify/
Prosecutors Say Credit Suisse Client Dan Rotta Allegedly Cheated IRS for Decades: US prosecutors used a court hearing Tuesday to describe the measures an ...
bloomberg.com/news/articles/2024-03-12/two-passports-fake-names-irs-says-credit-suisse-client-cheated
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How the enhanced CTC could impact tax season: The fate of the Child Tax Credit is in the hands of the Senate, but the IRS is ready to implement changes rapidly ...
accountingtoday.com/list/how-the-enhanced-child-tax-credit-could-impact-tax-filing-season
What should you do if you really can't find your old tax return?: Believe it or not, if you've lost your tax return for 2022, you're not alone. People move ...
freep.com/story/money/personal-finance/susan-tompor/2024/03/12/find-lost-income-tax-returns-needed-to-file-irs-2023-taxes/72792210007/
Tale of two women: AAP's public messaging after Kejriwal’s arrest
deccanherald.com/india/delhi/tale-of-two-women-aaps-public-messaging-after-kejriwals-arrest-2950777
Yellen says China's green energy industry is distorting global prices: Treasury Secretary's remarks come before her expected second visit to Beijing
thenationalnews.com/world/us-news/2024/03/27/yellen-says-chinas-green-energy-industry-is-distorting-global-prices/
Where’s My Tax Refund?: The different types of taxes you owe, how much to expect from your tax refund this year, and more.
morningstar.com/personal-finance/when-do-i-get-my-tax-refund
OC bookie at center of gambling scandal thought link to Ohtani would help business
ocregister.com/2024/03/27/bookie-at-center-of-gambling-scandal-thought-link-to-ohtani-would-help-business/
Under the radar no more: IRS increases scrutiny on corporate jets: The campaign is part of a larger effort by the IRS to increase its scrutiny of high-income ...
accountingtoday.com/news/under-the-radar-no-more-irs-increases-scrutiny-on-corporate-jets
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A staple of North Philly’s sneaker scene is facing potential prison time after admitting to $4 million tax evasion scheme
inquirer.com/news/youngs-sneaker-city-philadelphia-yong-lee-tax-evasion-20240328.html
NIO, BYD and Co. without a chance on the US market: US Treasury Secretary Yellen confirms support for Tesla and Co.
finanzen.net/nachricht/aktien/haltung-bekraeftigt-wettbewerb-bei-e-autos-us-regierung-will-erfolg-von-heimischen-autobauern-wie-tesla-sicherstellen-13371105
Deadline nears for Californians to claim $94 million in 2020 tax refunds. Here’s what to do
sacbee.com/news/california/article287104890.html
10 states where residents write off the most in taxes: SmartAsset analyzed the latest IRS data to find which U.S. residents wrote off the most in taxes.
sacbee.com/news/business/article287144425.html
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Too many electric cars and solar panels produced: China could depress prices globally
t3n.de/news/e-autos-solarpanels-china-preise-dumping-1616279/
Anambra drivers protest alleged multiple taxations, officials harassment: Some members of the Drivers Association of Anambra have protested what they termed ...
punchng.com/anambra-drivers-protest-alleged-multiple-taxations-officials-harassment/
When is the last day to file taxes? The important dates Iowans should known for 2024
desmoinesregister.com/story/money/2024/03/27/when-are-taxes-due-2024-find-out-when-to-file-federal-state-taxes-in-iowa-irs-tax-return/73116150007/
Tax season so far: Looking for answers: Taxpayers are accessing the IRS website much more this year than last to find the answers they need ...
accountingtoday.com/list/tax-filing-season-statistics-through-march-15-2024
8 of the biggest issues facing the banking industry today: A major shake-up in the payments world, a data breach that's opened up a debate on who is ultimately ...
americanbanker.com/list/8-of-the-biggest-issues-facing-the-banking-industry-today
Reviews of IRS Direct File for free tax prep are in. Here’s what taxpayers say.: ‘It was the fastest I’ve ever done my taxes,’ says one user. An estimated 19 ...
marketwatch.com/story/early-reviews-of-the-irs-direct-file-free-tax-prep-tool-are-in-heres-what-taxpayers-say-so-far-3a2c4a3a
How to get your 2020 stimulus check before it’s too late: The IRS is reminding taxpayers that there’s one more chance to claim any missed-out money and other ...
marketwatch.com/visual-stories/how-to-get-your-2020-stimulus-check-before-its-too-late-3a958cf1
IRS investigating Dodgers star's former interpreter: Ippei Mizuhara and an alleged bookmaker are under criminal investigation by the Internal Revenue Service ...
accountingtoday.com/articles/irs-investigating-ohtanis-former-interpreter
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More than 51,000 New Yorkers are about to lose $61M in uncollected tax refunds: The IRS says more than 51,000 New Yorkers are in danger of losing nearly $61 ...
nydailynews.com/2024/03/26/new-york-uncollected-tax-refunds/
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