The tax credit, called the Employee Retention Credit, was designed help small businesses keep paying their employees during the height of the pandemic.
IRS
Posted inBusiness
IRS plans to crack down on 1,600 millionaires to collect millions of dollars in back taxes
A team of academic economists and IRS researchers in 2021 found that the top 1% of U.S. income earners fail to report more than 20% of their earnings to the IRS.
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Posted inEditorials, Opinion
Another View: Surprise! Good tidings from the IRS
The federal agency has been doing better. Now it needs to go after the most sophisticated scofflaws.
Posted inNation & World, News, Politics
IRS is ending unannounced visits to taxpayers, to protect workers and combat scammers
The agency in recent years has experienced more threats, in part tied to conspiracy theories that agents were going to target middle-income taxpayers more aggressively.
Posted inBusiness, Nation & World, News
IRS says it collected $38 million from more than 175 high-income tax delinquents
Federal tax collector’s enhanced ability to identify tax delinquents comes from resources provided by the Inflation Reduction Act.
Posted inNation & World, News
Republicans release whistleblower testimonies from former IRS agents in Hunter Biden case
The release of the testimony comes just 2 days after Hunter Biden, 53, announced he will plead guilty to misdemeanor tax offenses as part of an agreement with the Justice Department.
Posted inNation & World, News
IRS audits Black taxpayers more often than other groups, agency confirms
Tax audit algorithms targeted filers who collected anti-poverty credits and did not report business income, researchers found.
Posted inBusiness, Op-eds, Opinion
From the Business Desk: Reckoning is needed for pandemic relief
Government has tried to lessen the financial toll of the pandemic, with generally positive results. But we still need to scrutinize how it’s done.
Posted inMaine
IRS says Maine’s $850 pandemic relief checks not taxable
The agency had been studying whether the money sent out last year in Maine – and similar payments made in 16 other states – was subject to federal taxes.
Posted inNation & World, Politics
Democrats hammer Republican plan to impose national sales tax, abolish IRS
Sponsored by Rep. Earl L. ‘Buddy’ Carter, R-Ga., the plan would do away with income, payroll, estate and gift taxes, and instead impose a 23% national sales tax.