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The Internal Revenue Service announced late Tuesday that it will let taxpayers submit tax returns without penalty through Wednesday, after a long day of technical problems that fueled confusion about what is already one of Americans' most frustrating interactions with their government. A computer glitch at the IRS knocked offline the agency's ability to process many tax returns filed electronically, a breakdown that left agency officials flummoxed and millions of Americans baffled.
On Tax Day, President Donald Trump and a chorus of Republicans announced that Tuesday's filing deadline marked the last time that figuring out taxes will drive Americans crazy. Not so.
On the eve of Tax Day, President Donald Trump is exaggerating the government's plans to shrink the much-dreaded federal income tax forms.aa He is promising a simplified, one-page tax form for next year that basically already exists - the 1040EZ. And after weeks of promises, Trump appears to be dropping a pledge to create an even smaller, card-size tax form.
Last December, we accomplished something historic for you and your family. The most sweeping reform of the tax code in more than three decades was signed into law.
President Donald Trump speaks at an event to promote his $1.5 trillion tax cut package at Bucky Dent Park in Hialeah, Fla., Monday, April 16, 2018, as Irina Vilarino, owner of Las Vegas Cuban Cuisine listens. President Donald Trump speaks at an event to promote his $1.5 trillion tax cut package at Bucky Dent Park in Hialeah, Fla., Monday, April 16, 2018, as Irina Vilarino, owner of Las Vegas Cuban Cuisine listens.
Republicans in Congress chose to make the corporate tax changes permanent, while phasing out most tax changes to the individual tax code by 2027. They made this choice to comply with the arcane rules of budget reconciliation, which do not allow legislation that increases budget deficits outside the 10-year budget window.
The acting head of the IRS says the current tax-filing season has gone well, while acknowledging the tough challenge the cash-strapped agency faces of administering the new tax law that will affect 2019 returns. Acting IRS Commissioner David Kautter told Congress Thursday that some 79 million refunds totaling about $226 billion have been issued as of April 6, averaging $2,900 - up $13 from last year.
As Politico's Playbook highlighted this morning , if Democrats are able to take over either chamber of Congress - a possibility that is appearing more and more likely - they could get their hands on the president's returns.
Georgia's legislators gaveled things to a close last week and for the first time in a while, it was a session that provided some positive accomplishments for taxpayers. For the first time since at least 2002, Georgia will not have "austerity cuts" for K-12 public schools in the state budget for the new fiscal year.
New Jersey has a major crisis on its hands. Its political leaders are refusing to address the elephant in the room that is crippling blue-collar families by hindering job creation, wage growth, and quality of life.
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New Jersey will have the highest percentage of taxpayers facing a tax hike this year as a result of the Republican rewrite of the federal tax code, according to a new report. The Tax Policy Center, a think tank based in Washington, D.C., said in a report Wednesday that 10.2 percent of New Jersey taxpayers will see their tax bills rise.
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The U.S. Supreme Court on March 21, 2018, reversed the Second Circuit in a 7-2 decision in Marinello v. United States, holding that to convict a defendant under the Omnibus Clause of Code Section 7212 the government must prove that the defendant was aware of a pending tax-related proceeding, such as a particular investigation or audit, or could reasonably have foreseen that such a proceeding would commence.
By LISA MASCARO and MATTHEW DALY Associated Press WASHINGTON - With passage of an enormous budget bill, the GOP-controlled Congress all but wrapped up its legislating for the year.
With passage of an enormous budget bill, the GOP-controlled Congress all but wrapped up its legislating for the year. But will it be enough to convince voters to give Republicans another term at the helm? In two big ways, Republicans have done what they promised.
If you want any kind of credit these days, you're going to get assessed by one of the private credit bureaus for credit worthiness. These bureaus rely on data from past and present creditors to evaluate your position.
On Tuesday New Jersey's new Democratic governor, Phil Murphy, broke sharply with President Trump and Congress on taxes. He used his first budget address to propose a hefty tax hike on millionaires.
Missouri's Senate on Monday approved a 10-cents per-gallon fuels tax increase, phased in over a five-year period. But the proposed increase is far from a done deal, since it was added to a 420-page bill that makes numerous changes to the ways state government gets its revenues - and still must win the Senate's final approval.