An unprecedented leak of the personal federal tax data of thousands of Americans has turbocharged a debate over wealth inequality in the United States and has tax reform advocates hopeful that a deeper public understanding of how the wealthy avoid taxes will lead to a restructuring of the U.S. tax code. The data, leaked to […]
WASHINGTON – The Biden administration says wealthy Americans withhold more than $600 billion in unpaid taxes from the Treasury every year, and it has proposed a detailed plan to bulk up the Internal Revenue Service’s enforcement arm in an effort to increase tax compliance among high net worth individuals. Total unpaid taxes “will rise to […]
WASHINGTON — The Internal Revenue Service Wednesday continued an ongoing effort to help those experiencing homelessness by reminding people who don’t have a permanent address or a bank account that they may still qualify for stimulus payments and other credits, including the advance Child Tax Credit. The agency is also asking for help from groups […]
WASHINGTON – Unclaimed income tax refunds worth more than $1.3 billion await an estimated 1.3 million taxpayers who did not file a 2017 Form 1040 federal income tax return, according to the Internal Revenue Service. “The IRS wants to help taxpayers who are due refunds but haven’t filed their 2017 tax returns yet,” said IRS […]