U.S. reaps record tax haul, boosted by meme stock frenzy
The surge in individual stock trading by Americans last year contributed to a record tax haul for the federal government this spring.
IRS adds new ‘surge team’ as lawmakers fume over tardy refunds
The IRS is expanding its capacity to process tax returns following criticisms from members of Congress about taxpayers waiting months to get their refunds.
IRS to end use of facial recognition to access tax accounts
The IRS will drop a system that required taxpayers to upload video selfies to access their info. Research has shown that AI-driven facial recognition often...
Tax season opens Jan. 24. Treasury says be ready for frustration
Taxpayers and return preparers should gird for a challenging and frustrating tax season as many of the processing delays and customer-service shortages that have plagued...
Banks enlist customers to kill Biden’s account data reporting plan
Financial institutions are recruiting customers to help stop a measure being considered in Congress that would require banks to hand some account information to the...
Congress juggles agenda to avert government shutdown and default
A government shutdown is still seen as unlikely but several obstacles stand in the way as leaders manage negotiations on several key issues. Here's a...
Barr reportedly had profanity-laden split with Trump over election fraud claims
WASHINGTON — Former Attorney General William Barr told then-President Donald Trump that there was no evidence of election fraud, an assertion that was met with...
Biden eyeing capital gains tax as high as 43.4% for wealthy
President Biden will propose boosting the capital gains rate to 39.6% for those earning $1 million or more, an increase from the current base rate...
Tax cheats are costing the US $1 trillion a year, IRS says in sharply higher estimate
The head of the IRS calculated that tax evasion in the U.S. may total $1 trillion a year, a figure that is multiples higher than...