IRS
The IRS has issued a public warning denying widespread social media claims that new $1,390 stimulus checks are on the way. Despite rumors, no such legislation has been passed by Congress, and no payments are being prepared. The false information coincides with Senator Josh Hawley’s proposal for a separate tax rebate funded by tariff revenue, […]
In a major shift, the IRS announced that churches can now endorse political candidates without losing their tax-exempt status. The change, outlined in a court filing, reinterprets the Johnson Amendment of 1954, which prohibited tax-exempt entities from political campaigning. The IRS now views endorsements made during religious services as protected speech, likening them to “family […]
According to a source familiar with the agency’s plans, More than half of these employees — over 3,500 — are expected to be from just one division at the IRS. In an email obtained by CBS News and shared by an IRS employee a managers of the IRS Small Business/Self-Employed Division Wednesday, and it says […]
Approximately 1 million taxpayers will soon receive special payments of up to $1,400 from the IRS as part of an initiative to distribute unclaimed Recovery Rebate Credits from 2021. These payments target taxpayers who were eligible for COVID-19 stimulus payments but either left the rebate credit field blank or incorrectly marked it as $0 on […]
The IRS is working with Code for America to offer New York residents the able to file taxes for free next year. It’s part of a limited pilot program which will allow states like New York, Arizona, California, and Massachusetts to merge their state e-filing process with the IRS’s federal E-filing tools. According to the […]
The IRS is looking to hire armed special agents across the country and pay $95K working 59 hours a week and will be on call 24/7 even while on vacation. Another requirement is special agents that are higher shouldn’t be afraid to use deadly force. The agent’s assignments will be to investigate financial crimes, tax related […]
A former Detroit rapper was sentenced to more than four years in prison for a $28 million tax fraud scheme that cheated the Internal Revenue Service and state treasuries of six states. United States Attorney Dawn N. Ison announced on Friday that Sameerah Marrell, who also uses aliases such as Sameerah Pickett, Sameerah Anderson, Loren Boyd, and Crème, […]
A new report published says that the IRS audits Black taxpayers at a significantly higher rate than non-Black taxpayers. The paper, published by Stanford’s Institute for Economic Policy Research, said that despite the IRS’s “race-blind audit selection,” Black taxpayers are audited 2.9 to 4.7 times more often than non-Black taxpayers. However, the research did not suggest […]
According To Forbes, OnlyFans content creators have recently been contacted in connection with a criminal tax investigation. The news is coming from multiple sources within the tax community. Traffic to OnlyFans, a subscription-based social media platform that often includes adults-only content, exploded with the pandemic. OnlyFans reportedly grossed over $2.3 billion in 2020 alone. Its content […]
The first day the Internal Revenue Service will accept and process federal returns for the 2022 tax year will be Monday, Jan. 23rd. Taxpayers have until April 18 this year to file their return without requesting an extension. (Victims of California’s severe winter storms have until May 15, 2023.) The IRS expects to receive more than 168 million […]
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