IRS

Prominent U.S. Sens. Elizabeth Warren (D-Mass.) and Bernie Sanders (I-Vt.) penned a letter to Treasury Secretary Janet Yellen and IRS Commissioner Daniel Werfel expressing their concerns over the delay in implementing tax reporting requirements for crypto brokers. They emphasized the...

Software giant Microsoft Corp. (NASDAQ:MSFT) is challenging a decision by the U.S. Internal Revenue Service (IRS) regarding a purported $28.9 billion tax liability. As reported by Bloomberg, the company declared its disagreement with the proposed adjustments to its...

The Internal Revenue Service, or IRS, has placed a lien on a condo owned by Rudy Giuliani, the former New York mayor and onetime attorney to Donald Trump, in Palm Beach, Florida, over unpaid taxes from 2021. What Happened: According to Insider, the notice filed in August reveals...

An Internal Revenue Service (IRS) contractor found himself at the center of a legal storm on Friday, after federal prosecutors announced charges of illicitly accessing and distributing the tax returns of a notable government figure. What Happened: While the identity of the...

The Internal Revenue Service (IRS) is girding up for massive furloughs that could hamper important taxpayer services, as the threat of a government shutdown looms large. What Happened: The IRS plans to furlough a sweeping majority of its workforce, around 60,000 employees, if the government shuts...

The son of President Joe Biden is suing the Internal Revenue Service (IRS) over the sharing of tax return information. The lawsuit from Hunter Biden comes shortly after an indictment was announced against him. What Happened: A lawsuit against the IRS has been filed by Hunter Biden, the son of...

The Internal Revenue Service (IRS) this month is set to audit 75 major partnerships, including leading hedge funds and real estate companies. The selected entities, which have an average of $10 billion in assets, were identified with the assistance of artificial intelligence (AI) tools, allowing...

Two major U.S. federal agencies — the Department of the Treasury and the Internal Revenue Service (IRS) — have jointly introduced a comprehensive set of cryptocurrency regulations. The initiative underscores the growing importance of digital assets in the financial landscape and the...

House committees subpoenaed officials of the Federal Bureau of Investigation (FBI) and Internal Revenue Service (IRS) regarding alleged political interference in the Hunter Biden investigation, Axios reports. On Monday, two F.B.I. special agents and two I.R.S. officials were summoned in connection...

Last week, an IRS special agent with significant military experience was fatally wounded by a colleague during a training session at a gun range in Phoenix, Arizona. As per Insider on Saturday, the victim was identified as 47-year-old Patrick Bauer. The accidental shooting took place last Thursday...

Used Tesla Inc (NASDAQ: TSLA) vehicles could now be eligible for a federal tax credit of up to $4,000, according to updated guidance from the Internal Revenue Service (IRS). This change could be a significant boost for prospective Tesla buyers looking to enter the electric vehicle (EV)...

U.S. Treasury Secretary Janet Yellen commended an initiative this week by the IRS that is projected to dwindle the federal deficit by $2.6 trillion over the next decade. The IRS’s transformative “paperless processing” program will alleviate the handling an annual influx of 200...

Summary California retail cannabis sales (and total U.S.) are, in the aggregate, ~$6 billion less than what many industry observers, analysts (including us) and news media have reported (2018-2022). Our analysis was triggered by an added level of transparency that commenced in Q1:23 when excise tax...

During a congressional hearing on Wednesday, two IRS whistleblowers asserted that the Justice Department deliberately delayed its investigation into Hunter Biden and disregarded suggestions to pursue felony tax charges. What Happened: IRS agents Gary Shapley and Joseph Ziegler claimed that the U.S...

Donald Trump reportedly discussed with the Internal Revenue Service and other federal agencies about investigating two FBI officials when he was in office. What Happened: Two FBI officials who were under Trump's lens were investigating into his campaign's links to Russia, the former's president's...