According to a report, the Internal Revenue Service (IRS) imposed $7 billion in extra tax penalties last year, about four times the $1.8 billion it assessed in 2022 following the Biden administration’s push for increased funding and enforcement of the agency.
Read More Americans Suffered $7B In Tax Penalties Last Year Following Biden Admin’s Additional Funding Of IRS, Thousands Of Added PositionsTag: Internal Revenue Service
Yellen to warn of ‘significant risks’ from use of AI in finance
Treasury Secretary Janet Yellen will warn that the use of AI in finance could lower transaction costs, but carries “significant risks.”
Read More Yellen to warn of ‘significant risks’ from use of AI in financeUS IRS says it will pursue high-income earners who failed to file tax returns
The IRS said it will go after high-income earners who have failed to file tax returns in 125,000 cases since 2017.
Read More US IRS says it will pursue high-income earners who failed to file tax returnsIRS Halts Surprise Visits To Taxpayers’ Homes And Businesses Over Safety Concerns
The Internal Revenue Service (IRS) announced on Monday that the agency will dramatically restrict the number of unannounced inspections of homes and businesses, citing safety concerns for its personnel as well as the possibility of scammers posing as agency officials.
Read More IRS Halts Surprise Visits To Taxpayers’ Homes And Businesses Over Safety ConcernsRepublican sounds alarm on IRS spending millions on weapons and tactical gear
Representative Stephanie Bice has demanded a full accounting from the Internal Revenue Service, saying that the nearly $10 million spent by the agency on weapons and tactical gear since 2020 is “concerning.”
Read More Republican sounds alarm on IRS spending millions on weapons and tactical gear20 armed IRS agents raid gun store, seize purchase records
Armed Internal Revenue Service (IRS) and Bureau of Alcohol, Tobacco, Firearms and Explosive (ATF) agents raided a gun store in Great Falls, Montana seizing all forms that hold buyer’s information during firearm transactions.
Read More 20 armed IRS agents raid gun store, seize purchase records