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Keyword: irs

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  • How the IRS Enables the Border Invasion: Tax deductible nonprofits help illegal migrants enter the United States.

    01/31/2023 9:51:36 AM PST · by SeekAndFind · 16 replies
    Frontpage Mag ^ | 01/31/2023 | Daniel Greenfield
    Last year, bills to stop funding non-profits that help illegal aliens enter this country were introduced in the House and Senate. The Stop Federal Funding for Human Trafficking and Smuggling Act and the Protecting Federal Funds from Human Trafficking and Smuggling Act have failed to make headway. Meanwhile, the problem has only gotten worse. Such bills would not be necessary if the IRS were doing its job. Instead, the IRS, which consistently targets conservative nonprofits, has refused to address the problem. The mass invasion of the United States of America would not be possible without a nonprofit sector that has...
  • Experts Warn New IRS Tax Rules Are A 'Double Whammy' For Families

    01/30/2023 8:55:56 PM PST · by george76 · 29 replies
    The Epoch Times. ^ | January 29, 2023 | Jack Phillips
    After the Internal Revenue Service issued several releases warning about potentially lower tax refunds this filing season, some analysts say that it could put strain on some families who may have anticipated an expanded child tax credit. Analysts Sound Off.. Financial expert Lynnette Khalfani-Cox told NPR on Jan. 22 that there are “four main reasons” that cause will cause 2022’s returns to be smaller. “The first is: no more stimulus checks. The second is that what was called the enhanced child credit—that’s gone,” she noted. A third reason is that a pandemic-era tax break for charitable deductions was killed for...
  • IRS Alerts Taxpayers They Must Answer a New Question On Tax Forms Or Face Consequences

    01/26/2023 6:38:26 PM PST · by SeekAndFind · 83 replies
    Epoch Times ^ | 01/26/2023 | Tom Ozimek
    The Internal Revenue Service (IRS) issued an alert to taxpayers on Tuesday, reminding them that they must report all digital asset-related income and answer a new digital asset question on their 2022 federal income tax return or face consequences such as delayed refunds or even penalties.The IRS said in a Jan. 24 release that a key change on 1040 forms this year is that the agency has replaced the term “virtual currency” with “digital assets,” in addition to some other modifications to the wording.The “Yes” or “No” question, which was expanded and revised this year to update terminology, reads as...
  • Supreme Court Declines Case Challenging Excessive IRS Penalties

    01/23/2023 3:05:05 PM PST · by nickcarraway · 28 replies
    Reason ^ | 1.23.2023 | Scott Shackford
    Should an elderly grandmother be forced to hand over millions of dollars to the government for failing to file a particular form?The Supreme Court today rejected to consider a case on whether some Internal Revenue Service (IRS) penalties are actually unconstitutionally excessive fines. The case revolves around Monica Toth, an 82-year-old Boston-area woman who the IRS wants to seize more than $2 million from because she ran afoul of IRS documentation guidelines. In the 1930s, Toth's family fled from Nazi Germany to Argentina, where she was born. Toth moved to America at age 22 and later became a U.S. citizen....
  • The IRS Enables China’s Foreign Influence Operation: China’s propaganda is subsidized by American taxpayers.

    01/20/2023 10:00:40 AM PST · by SeekAndFind · 2 replies
    Frontpage Mag ^ | 01/20/2023 | Daniel Greenfield
    Senators and law enforcement officials have expressed concern about the presence of the Confucius Institute on college campuses. The Trump administration demanded that it register as a foreign mission. It has been the subject of congressional investigations, a defense boycott, warnings from cabinet members, and scrutiny at the highest levels of government.And yet multiple Confucius Institute branches are fundraising in the United States and the D.C. office, the Confucius Institute U.S. Center, remains a registered 501(c)(3) nonprofit with the IRS.The Confucius Institute’s office on Embassy Row, just off Dupont Circle, less than a dozen blocks from the White House, is...
  • Editorial: Defunding IRS is a political stunt, and a terrible idea (barf)

    01/14/2023 6:25:51 AM PST · by Tolerance Sucks Rocks · 46 replies
    The Pittsburgh Post-Gazette ^ | January 13, 2023 | The Editorial Board
    The new Republican-controlled House of Representatives got off to a bumpy start by attempting to repeal last year’s addition of of $71.5 billion to the IRS budget. It’s a political stunt with no chance of passing the U.S. Senate. Hamstringing the taxman doesn’t make taxes go away, but it does make it harder for taxpayers to pay them, the government to collect them and public agencies to function. Defunding the IRS would aggravate an already egregious problem: Billions of dollars of uncollected taxes, mostly from corporations and the wealthy. From 2014 to 2016, the IRS estimated $500 billion per year...
  • The House GOP Finally Gets Serious on Abolishing the IRS

    01/13/2023 8:21:55 PM PST · by SeekAndFind · 20 replies
    Red State ^ | 01/13/2023 | Jennifer Oliver O'Connell
    I make it no secret that I despise the IRS. It has been less a tool of funding our country, and more a cudgel to punish political enemies, dependent upon which side is in charge of the governmental branches. So, the moves that the new GOP House of Representatives is making are steps in the right direction: DeFund, and DeFang.Since the 1913 ratification of the 16th Amendment, Congress has had the power to lay and collect taxes on income from whatever sources it was derived from, and with every progressive president (thank you, Woodrow Wilson and Franklin D. Roosevelt), we...
  • Biden think tank where secret docs were stashed accused of giving prez, his allies ‘no show’ jobs

    01/13/2023 5:31:24 PM PST · by conservative98 · 26 replies
    NY Post ^ | January 13, 2023 4:43pm | Steven Nelson
    WASHINGTON — A conservative group alleges in a new IRS whistleblower complaint that the University of Pennsylvania’s Biden Center for Diplomacy and Global Engagement flouted non-profit rules — in part by giving the future president and his allies “no show” jobs, The Post has learned. The center burst into the national spotlight Monday with the revelation that classified documents dating from President Biden’s vice presidency were found at its Washington office, ultimately leading to the appointment of special counsel Robert Hur to determine whether Biden or others in his orbit illegally mishandled records. The America First Legal Foundation, led by...
  • OH GROW UP: CNN Throws Fit Over House GOP Voting to Gut IRS Funding

    01/12/2023 1:38:39 PM PST · by JV3MRC · 19 replies
    NewsBusters ^ | 1/12/2023 | Joseph Vazquez
    CNN Chief Business Correspondent Christine Romans had a hissy fit over House Republicans voting to gut the $80 billion IRS funding following their pledge to nix plans to hire 87,000 new employees over the next ten years. Romans flailed at House GOP “pass[ing] a bill based on a demonstrable falsehood. There is no army of 87,000 IRS agents coming after American families and small businesses.” Of course, Romans said nothing about how 57.3% of the estimated “86,852 new IRS” hires, “(49,754 in total) would be assigned to enforcement,” according to The Heritage Foundation. Romans instead chose to gaslight on the...
  • House Republicans To Vote On Bill Abolishing IRS, Eliminating Income Tax.

    01/10/2023 11:09:28 AM PST · by Carriage Hill · 135 replies
    Fox News ^ | 1.10.2023 | Houston Keene
    Republicans in the House of Representatives will vote on a bill that would abolish the Internal Revenue Service (IRS), eliminate the national income tax, and replace it with a national consumption tax. Fox News Digital has learned that the House will be voting on Georgia Republican Rep. Buddy Carter's reintroduced Fair Tax Act that aims to reel in the IRS and remove the national income tax, as well as other taxes, and replace them with a single consumption tax. The vote on the bill was made as part of the deal between House Speaker Kevin McCarthy, R-Calif., and members of...
  • JUST IN: House Republicans Vote Unanimously to Repeal Funding For Army of 87,000 IRS Agents (VIDEO)

    01/09/2023 7:34:07 PM PST · by Macho MAGA Man · 104 replies
    The Gateway Pundit ^ | January 9, 2023 | Cristina Laila
    The House of Representatives on Monday evening voted 221-210 to repeal funding for 87,000 IRS agents. The so-called ‘Inflation Reduction Act’ gave $79.6 billion to the IRS over the next 10 years. The Wall Street Journal said the new army of IRS agents will target the middle and upper-middle class. According to new analysis, the IRS audits the poor at 5 times the rate of everyone else. The IRS also has a history of targeting conservative groups. The House approved its first bill on Monday night rescinding funding for the 87,000 IRS agents.
  • IRS Targeted Poorest Taxpayers While Millionaires Went Mostly Unscathed in 2022: Report

    01/09/2023 10:46:38 AM PST · by nickcarraway · 40 replies
    Fox News ^ | January 7, 2023 | Peter Aitken
    White House argues that Inflation Reduction Act will increase audits against millionairesA study of 2022 IRS tax audit data found that a taxpayer in the lowest income bracket is five times more likely to face an audit that would a member of the highest income bracket. "The IRS correspondence audit process is structured to expend the least amount of resources to conduct the largest number of examinations – resulting in the lowest level of customer service to taxpayers having the greatest need for assistance," National Taxpayer Advocate Erin M. Collins said of the report during an annual report to Congress....
  • In 2022, The IRS Went After The Very Poorest Taxpayers: Despite $80 billion in new funding, the agency is living up to its reputation of hassling low-income taxpayers over rich people

    01/08/2023 6:04:25 PM PST · by SeekAndFind · 42 replies
    Reason ^ | 01/08/2023 | Liz Wolfe
    Despite $80 billion in new funding, the agency is living up to its reputation of hassling low-income taxpayers over rich people...On Wednesday, Syracuse University's Transactional Records Access Clearinghouse (TRAC) released data provided to it by the Internal Revenue Service (IRS) on audits performed by the agency in fiscal year 2022. Despite the infusion of new funding earmarked for the IRS via last year's Inflation Reduction Act, the agency continued historic trends of hassling primarily low-income taxpayers, with relatively few millionaires and billionaires getting caught up in the audit sweep."The taxpayer class with unbelievably high audit rates—five and a half times...
  • McCarthy: ‘The Very First Day, the First Thing We’re Going to Do Is Repeal the 87,000 IRS Agents’

    12/31/2022 7:37:53 AM PST · by ChicagoConservative27 · 94 replies
    Breitbart ^ | 12/31/2022 | Jeff poor
    Friday, during an appearance on FNC’s “Jesse Watters Primetime,” House Republican leader Kevin McCarthy teased Congress’ immediate upcoming actions to start 2023. First up, according to the California Republican, after electing the Speaker of the House was to repeal the 87,000 IRS agents provision passed by Congress earlier this year. “Great question – the first thing we have to do is elect our Speaker. We can’t do anything until we elect that Speaker,” he said. “And if you watch, the White House is actually pushing back on our investigations, saying we’re not going to give you anything till you get...
  • IRS delays new tax-reporting rule on Venmo, PayPal payments over $600

    12/23/2022 11:14:45 AM PST · by SeekAndFind · 39 replies
    MSN via Fox News ^ | 12/23/2022 | Megan Henney
    The Internal Revenue Service on Friday said that it is delaying by one year a new tax reporting requirement targeting Americans who made more than $600 online through third-party payment apps like Venmo or PayPal. "The IRS and Treasury heard a number of concerns regarding the timeline of implementation of these changes under the American Rescue Plan," said Doug O'Donnell, the acting IRS commissioner. "To help smooth the transition and ensure clarity for taxpayers, tax professionals and industry, the IRS will delay implementation of the 1099-K changes." This is a developing story. Please check back for updates.
  • Trump Audit Shows Depths of IRS Funding Woes

    12/23/2022 8:45:35 AM PST · by Beave Meister · 38 replies ^ | 12/22/2022 | Alan Rappeport
    WASHINGTON — Before Donald Trump became president and after, his exceedingly complex and voluminous tax returns came under regular scrutiny by the Internal Revenue Service. The number of agents assigned to the audit team: one. After Trump left office, the IRS said it was beefing up the audit team, to three. The tax agency itself acknowledged that it was still overwhelmed by the complexity of Trump’s finances and the resistance mounted by the former president and his sophisticated army of accountants and lawyers, which included a former IRS chief counsel and raised questions early last year about why even three...
  • Democrats' release of Trump taxes raises questions about audits, transparency and privacy: ANALYSIS

    12/22/2022 3:07:18 AM PST · by blueplum · 34 replies
    ABC ^ | 21 Dec 2022 | Devin Dwyer
    ...Neal, D-Mass., said Tuesday that the move -- done along party lines -- was overwhelmingly in the public interest despite federal law that generally prohibits disclosure of individual Americans' tax returns without their permission or a court order.... In October, the House panel told the U.S. Supreme Court that Trump's records were essential to "examining the need for 'legislation on equitable tax administration..." ..."The Chairman's request robustly articulated and documented the legislative need for the request," the committee told the high court. The justices ultimately sided with the committee.... ..."The judges and justices who reviewed this case took the committee...
  • IRS Admits To Accidentally Releasing Private Data Of About 112,000 Taxpayers

    12/16/2022 3:36:08 PM PST · by george76 · 32 replies
    Daily Caller News ^ | December 16, 2022 | JAMES LYNCH
    The Internal Revenue Service (IRS) mistakenly released the private data of roughly 112,000 taxpayers in September and again in late November, the agency disclosed Thursday. An IRS programming error in September caused the release of 112,000 individual 990-T forms, a form used by IRA holders to report retirement account assets. The IRS is required to publicize 990-T forms filled out by nonprofit organizations but not those completed by individual taxpayers, ... The 990-T data was accidentally released again in November when a contractor uploaded an outdated file holding the private information, the IRS said in a Thursday letter to Congress....
  • HSBC updates climate policy to stop funding new oil and gas

    12/14/2022 12:30:13 PM PST · by Oldeconomybuyer · 35 replies
    The Associated Press ^ | December 14, 2022 | By JENNIFER McDERMOTT
    HSBC, Europe’s biggest bank, announced Wednesday it will no longer finance new oil and gas fields as part of its updated climate strategy. Climate campaigners welcomed the moved saying HSBC provided a new baseline for other major banks but urged the bank to go further. The bank said it would still provide financing to existing fossil fuel projects “in line with current and future declining global oil and gas demand.” It would also continue to provide finance and advisory services to energy sector clients but will assess the companies’ plans to transition to clean energy. “It sets a new minimum...
  • Does anyone recall the income tax rate in the 50s, 60s, or 70s? (Vanity)

    12/15/2022 1:00:32 PM PST · by amorphous · 54 replies
    15 Dec 2022 | Me
    Below is an income tax table I found online. It's kind of shocking. I'm starting to distrust online sources - wondering if anyone on Free Republic would be able to verify its accuracy: